The company which sells its namesake brand as well as Michael Kors and Armani quarterly profit beat market estimates on increased sales of its watches and leather products, but the watchmaker forecast a third-quarter profit below expectations.
Fossil trading at $78 premarket down from a close of $93. Fossil was IBD's number 2 rated stock.
Tuesday, August 9, 2011
Dish Network Q2 profit misses on subscriber losses
The second-largest U.S. satellite TV provider’s quarterly profit fell short of market estimates as the satellite-TV provider lost subscribers, hurt by increased competition.
Direct TV and Verizon's FIOS taking a toll on DISH.....
Direct TV and Verizon's FIOS taking a toll on DISH.....
Futures have reversed overnight....
At 11 pm last night, the Dow Futures were down 280 points....as I write this Dow Futures are up 108 points....
Market Breadth from Yesterday....
This is about as ugly as it gets....Check out the New Lows on the NYSE (1,306). I have been keeping track of Market Stats for 15 years, and have never seen anything close to that. Selling volume suggests that yesterday was a complete panic selloff.
Monday, January 24, 2011
Stocks to watch....
Apple Inc. (AAPL). The iPhone-maker said on Saturday its App Store reached landmark 10 billion downloads, further underlining the lead of the company in mobile online software battle, a counter on front page of the store showed.
Halliburton Co. (HAL). The world's second-largest oilfield services, on Monday reported higher fourth-quarter profit as drilling activity in its North American market remained strong. The company said its net profit rose to $605 million, or 66 cents per share, from $243 million, or 27 cents per share, a year earlier.
Halliburton Co. (HAL). The world's second-largest oilfield services, on Monday reported higher fourth-quarter profit as drilling activity in its North American market remained strong. The company said its net profit rose to $605 million, or 66 cents per share, from $243 million, or 27 cents per share, a year earlier.
Premarket Movers.....
Gainers
Clinical Data Inc.’s (CLDA 25.00, +9.97, +66.33%) shares rallied 44% after the company’s antidepressant received approval Friday from the U.S. Food and Drug Administration.
Genoptix Inc. (GXDX 24.88, +5.12, +25.91%) shares rose 26% after Swiss drug maker Novartis AG (NVS 56.70, +0.28, +0.50%) said it would buy the cancer-diagnostic specialist for $470 million.
Nvidia Corp. (NVDA 23.05, +0.83, +3.74%) shares added 5% after Barron’s said the chip maker’s stock might rise as much as 80% in the next year.
Smurfit-Stone Container Corp. (SSCC 35.10, +7.58, +27.54%) shares climbed 27% after Rock-Tenn Co. (RKT 60.17, +2.99, +5.23%) said it would buy the container-board producer for $3.5 billion.
Decliners
RadioShack Corp. (RSH 16.09, -1.52, -8.63%) shares fell 12% after the consumer-electronics retailer said Chief Executive Officer Julian Day would step down in May. Read more about RadioShack.
World Wrestling Entertainment Inc. (WWE 11.95, -1.55, -11.48%) shares lost 11% after the producer of wrestling matches late Friday projected fourth-quarter earnings below expectations.
Clinical Data Inc.’s (CLDA 25.00, +9.97, +66.33%) shares rallied 44% after the company’s antidepressant received approval Friday from the U.S. Food and Drug Administration.
Genoptix Inc. (GXDX 24.88, +5.12, +25.91%) shares rose 26% after Swiss drug maker Novartis AG (NVS 56.70, +0.28, +0.50%) said it would buy the cancer-diagnostic specialist for $470 million.
Nvidia Corp. (NVDA 23.05, +0.83, +3.74%) shares added 5% after Barron’s said the chip maker’s stock might rise as much as 80% in the next year.
Smurfit-Stone Container Corp. (SSCC 35.10, +7.58, +27.54%) shares climbed 27% after Rock-Tenn Co. (RKT 60.17, +2.99, +5.23%) said it would buy the container-board producer for $3.5 billion.
Decliners
RadioShack Corp. (RSH 16.09, -1.52, -8.63%) shares fell 12% after the consumer-electronics retailer said Chief Executive Officer Julian Day would step down in May. Read more about RadioShack.
World Wrestling Entertainment Inc. (WWE 11.95, -1.55, -11.48%) shares lost 11% after the producer of wrestling matches late Friday projected fourth-quarter earnings below expectations.
Friday, January 21, 2011
GE looks to breakout on positive earnings...
General Electric Co. (GE). The company on Friday said profit rose 51 percent, topping Wall Street's expectations, helped by lower loss rates at its finance arm and an unexpected 1 percent rise in revenue. The largest U.S. conglomerate said on Friday fourth-quarter net income came to $4.5 billion, or 42 cents per share, up from $3 billion, or 28 cents per share, a year earlier.
Capital One beats estimates...
Capital One Financial Corp. (COF). The company’s fourth-quarter profit rose 85 percent to $697 million, beating estimates, as losses on bad loans fell and consumers slowly started to take out new loans. The company said it earned $1.52 per share. That compared with a year-ago profit of $376 million, or 83 cents per share.
BAC continues to report losses...
Bank of America Corp. (BAC). The largest bank by assets, reported a second straight quarter loss, driven by a $2 billion writedown of its mortgage business. The bank posted fourth-quarter net loss of $1.57 billion, or 16 cents a share, compared with a loss of $5.2 billion, or 60 cents a share, a year earlier.
ISRG surges...
Intuitive Surgical Inc. (ISRG). The company on Thursday reported far better-than-expected fourth-quarter profit on strong demand for its da Vinci surgical robots and an increase in procedures using the high priced systems. The company said net profit rose 56 percent to $121.2 million, or $3.02 per share, from $77.5 million, or $1.95 per share, a year ago. The company forecast 2011 revenue growth of 16 percent to 20 percent and procedure growth of 25 percent to 28 percent.
Google blows past estimates....
Google Inc. (GOOG). The company’s co-founder Larry Page will take over as CEO from Eric Schmidt, a surprise move to make the company more nimble at a time when competition heats up with fast-growing rivals like Facebook. The news came as Google reported fourth-quarter earnings and revenue that blew past expectations. Net income, excluding items, of $8.75 a share outstripped Wall Street's average forecast of $8.10. Net revenue, excluding fees paid to partner websites, was $6.37 billion.
Skyworks continues to roll....
Skyworks Solutions Inc. (SWKS). The cellphone chipmaker on Thursday reported better-than-expected first-quarter results and forecast second-quarter above market estimates on firm demand for smartphones, tablets and a shift to 4G. The company reported net income of $60.9 million, or 32 cents a share, from $28 million, or 16 cents a share, a year ago. The company forecast second-quarter earnings of 38 cents to 40 cents a share, excluding items, on revenue of $310 million to $320 million.
Friday, December 10, 2010
Rumors swirl on Radware (RDWR)
We've heard this story before, but rumors are out there that Radware (RDWR) will be taken out very shortly. The stock is up 4-5 points in the last three days, after holding 20% gains when these rumors first surfaced on Sept 14.
The stock is currently at $39.10 Rumored take out price is $47.
The stock is currently at $39.10 Rumored take out price is $47.
Today's Upgrades and Downgrades...
Airgas Inc. (NYSE: ARG) Raised to Outperform at Baird.
Bank of Ireland (NYSE: IRE) Cut to Underweight at Morgan Stanley.
Broadcom Corporation (NASDAQ: BRCM) Started as Neutral at Nomura; Raised to Positive at Susquehanna.
Calpine Corporation (NASDAQ: CPN) Started as Outperform at Oppenheimer.
Celgene Corporation (NASDAQ: CELG) Started as Outperform at Wells Fargo.
CIT Group, Inc. (NYSE: CIT) Started as Neutral at Credit Suisse.
DryShips, Inc. (NASDAQ: DRYS) Raised to Outperform at Credit Suisse.
Gilead Sciences Inc. (NASDAQ: GILD) Started as Outperform at Wells Fargo.
Intel Corporation (NASDAQ: INTC) Started as Buy at Nomura.
Lululemon Athletica (NASDAQ: LULU) Raised to Hold at Jefferies.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Started as Neutral at Nomura.
NVIDIA Corporation (NASDAQ: NVDA) Started as Neutral at Nomura.
Procter & Gamble (NYSE: PG) Raised to Buy at Goldman Sachs.
QUALCOMM Incorporated (NASDAQ: QCOM) Started as Neutral at Nomura.
Research in Motion Ltd. (NASDAQ: RIMM) Reiterated Outperform and target raised to $75 at Raymond James.
Texas Instruments Inc. (NYSE: TXN) Started as Reduce at Nomura.
Bank of Ireland (NYSE: IRE) Cut to Underweight at Morgan Stanley.
Broadcom Corporation (NASDAQ: BRCM) Started as Neutral at Nomura; Raised to Positive at Susquehanna.
Calpine Corporation (NASDAQ: CPN) Started as Outperform at Oppenheimer.
Celgene Corporation (NASDAQ: CELG) Started as Outperform at Wells Fargo.
CIT Group, Inc. (NYSE: CIT) Started as Neutral at Credit Suisse.
DryShips, Inc. (NASDAQ: DRYS) Raised to Outperform at Credit Suisse.
Gilead Sciences Inc. (NASDAQ: GILD) Started as Outperform at Wells Fargo.
Intel Corporation (NASDAQ: INTC) Started as Buy at Nomura.
Lululemon Athletica (NASDAQ: LULU) Raised to Hold at Jefferies.
Marvell Technology Group Ltd. (NASDAQ: MRVL) Started as Neutral at Nomura.
NVIDIA Corporation (NASDAQ: NVDA) Started as Neutral at Nomura.
Procter & Gamble (NYSE: PG) Raised to Buy at Goldman Sachs.
QUALCOMM Incorporated (NASDAQ: QCOM) Started as Neutral at Nomura.
Research in Motion Ltd. (NASDAQ: RIMM) Reiterated Outperform and target raised to $75 at Raymond James.
Texas Instruments Inc. (NYSE: TXN) Started as Reduce at Nomura.
Latest Short Interest - from Bloomberg
• Short Interest in the SP500 for the period ending Nov. 30th declined 3.51%.
The largest decreases came from Healthcare (dn. 7.68%) Consumer Discretionary (dn. 7.09%) and financials (dn. 6.35%)
3 sectors showed an increase in Short Interest, IT (+2.85%) Telecom (+2.11%) and Industrials (+0.19%)
• Largest Increases: KSS (+157.9%) RSG (+89.9%) INTC (+80.97%) AIZ (+72.21%) PWR (+63.79%) IR (+63.34%) COL (+62.87%) RF (+49.5%) HAR (+45.91%) MJN (42.81%)
• Largest Decreases: APA (dn. 64.08%) MYL (dn. 61.26%) PGR (dn. 34.95%) APC (dn. 30.2%) MHP (dn. 29.8%) MAT (dn. 29.17%) ED (dn. 28.88%) BTI (dn. 28.75%) NEE (dn. 28.48%) AEP (dn. 27.37%)
The largest decreases came from Healthcare (dn. 7.68%) Consumer Discretionary (dn. 7.09%) and financials (dn. 6.35%)
3 sectors showed an increase in Short Interest, IT (+2.85%) Telecom (+2.11%) and Industrials (+0.19%)
• Largest Increases: KSS (+157.9%) RSG (+89.9%) INTC (+80.97%) AIZ (+72.21%) PWR (+63.79%) IR (+63.34%) COL (+62.87%) RF (+49.5%) HAR (+45.91%) MJN (42.81%)
• Largest Decreases: APA (dn. 64.08%) MYL (dn. 61.26%) PGR (dn. 34.95%) APC (dn. 30.2%) MHP (dn. 29.8%) MAT (dn. 29.17%) ED (dn. 28.88%) BTI (dn. 28.75%) NEE (dn. 28.48%) AEP (dn. 27.37%)
Green Mountain Coffee warns...
Green Mountain Coffee Roasters (GMCR 31.98, -5.44, -14.54%) declined 15% in the premarket. The Waterbury, Vt., coffee producer issued a softer profit forecast and withdrew its shipment guidance for its K-Cup coffee packs.
Earnings Next Week...
Corporate Events Calendar – Week of Mon Dec 13
• Mon Dec 13: analyst meetings (Air Liquide, BCR, EW); sales (GWW)
• Tues Dec 14: earnings before the open (BBY, FDS, SAFM); earnings after the close (HOV); analyst meetings (BMC, BRCM, CRL, FSLR, GE, KO, NVS, ONXX, PPG)
• Wed Dec 15: earnings before the open (JOYG); earnings after the close (NDSN); analyst meeting (AVT, CBR, DAL, DG, DGI, DHR, HON, LII)
• Thurs Dec 16: earnings before the open (ABC, ATU, DFS, FDX, GIS, PIR, RAD); earnings after the close (ACN, LUB, ORCL, RIMM, SMOD, TTWO, ZQK); analyst meetings (ATHN, CNC, IRDM, PG)
• Fri Dec 17: analyst meetings (CCE, ITT, PNR)
• Mon Dec 13: analyst meetings (Air Liquide, BCR, EW); sales (GWW)
• Tues Dec 14: earnings before the open (BBY, FDS, SAFM); earnings after the close (HOV); analyst meetings (BMC, BRCM, CRL, FSLR, GE, KO, NVS, ONXX, PPG)
• Wed Dec 15: earnings before the open (JOYG); earnings after the close (NDSN); analyst meeting (AVT, CBR, DAL, DG, DGI, DHR, HON, LII)
• Thurs Dec 16: earnings before the open (ABC, ATU, DFS, FDX, GIS, PIR, RAD); earnings after the close (ACN, LUB, ORCL, RIMM, SMOD, TTWO, ZQK); analyst meetings (ATHN, CNC, IRDM, PG)
• Fri Dec 17: analyst meetings (CCE, ITT, PNR)
Latest Fund Flows
Fund Flows – from JPMorgan’s E Beinstein - For the week ending 12/8/10, all fund categories experienced inflows; HY, Equity, and Money Markets significant ones. HG had inflows of $400mn this week vs an inflow of $56mn last week. The last outflow was during the week of 11/3/10 of -$258mm. HY funds had inflows of $1bn this week vs an outflow of - $1.2bn last week. Equity funds had inflows of $8bn this week (3rd largest inflow this year) vs an outflow of -$1.6bn last week. Money markets had an inflow of $25bn this week (largest this year) vs an outflow of -$2.8bn last week.
Stocks to Watch
• Apple Inc. (AAPL). The component suppliers for the PC maker’s iPad are gearing up for a new round of production in the first quarter, sources said on Friday, with one saying the product will be a revamp of the popular tablet computer including front- and back-mounted cameras.
• Bank of America Corp. (BAC). The bank and financial holding company restarted about 16,000 home foreclosure cases across the United States on Monday, the Wall Street Journal said.
• Borders Group Inc. (BGP). The bookseller said on Thursday it is trying to obtain new financing to avoid violating the terms of its credit agreements early next year.
• Cablevision Systems Corp. (CVC), F5 Networks Inc (FFIV), Netflix Inc (NFLX) and Newfield Exploration Co (NFX). The four companies will join the benchmark S&P 500 index after the closing bell on Dec. 17, S&P said in a statement on Thursday. Netflix, F5 Networks and Newfield Exploration will replace Office Depot Inc (ODP), The New York Times Co (NYT) and Eastman Kodak Co (EK) in the S&P 500. Cablevision Systems will replace King Pharmaceuticals Inc (KG) as King Pharma's takeover by Pfizer Inc (PFE) is expected to be completed soon, S&P said.
• Cisco Systems Inc. (CSCO). The network equipment maker company’s CEO John Chambers on thursday said, the company would likely gain share in the overall market, including the public sector, where it suffered a fall in orders last quarter.
• Green Mountain Coffee Roasters Inc. (GMCR). The coffee company gave a weak first-quarter profit outlook due to higher marketing costs and an expected volatility in coffee costs, becoming the latest coffee company to take a hit due to soaring prices. The company, which raised coffee prices in October in response to rising coffee costs, expects a first-quarter adjusted profit of 14-18 cents a share.
• JPMorgan Chase & Co. (JPM). The bank is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank's home base.
• Microsoft Corp. (MSFT). The world's largest software company said November month was the best on record for xbox sales, helped by Kinect. 1.37 million of xbox consoles were sold, the company said. Separately, Microsoft, Adobe (ADBE) and other U.S. software manufacturers are pressing the Obama administration for a deal with China next week that could spur billions of dollars of additional U.S. software exports, an industry official said on Thursday.
• Sony Corp. (SNE). The electronic equipment maker on Friday said it shipped more than 5.5 million copies of Gran Turismo 5, the latest version of its motor-racing game franchise, in its first 12 days on sale.
• United Technologies Corp. (UTX). The diversified manufacturer set a wide 2011 profit target range, warning that a fluctuating euro and uncertain global economic recovery could hamper it from hitting its long-term earnings growth target of 10 percent or more. The company expected a profit of $5.05 to $5.35 per share in 2011.
• Bank of America Corp. (BAC). The bank and financial holding company restarted about 16,000 home foreclosure cases across the United States on Monday, the Wall Street Journal said.
• Borders Group Inc. (BGP). The bookseller said on Thursday it is trying to obtain new financing to avoid violating the terms of its credit agreements early next year.
• Cablevision Systems Corp. (CVC), F5 Networks Inc (FFIV), Netflix Inc (NFLX) and Newfield Exploration Co (NFX). The four companies will join the benchmark S&P 500 index after the closing bell on Dec. 17, S&P said in a statement on Thursday. Netflix, F5 Networks and Newfield Exploration will replace Office Depot Inc (ODP), The New York Times Co (NYT) and Eastman Kodak Co (EK) in the S&P 500. Cablevision Systems will replace King Pharmaceuticals Inc (KG) as King Pharma's takeover by Pfizer Inc (PFE) is expected to be completed soon, S&P said.
• Cisco Systems Inc. (CSCO). The network equipment maker company’s CEO John Chambers on thursday said, the company would likely gain share in the overall market, including the public sector, where it suffered a fall in orders last quarter.
• Green Mountain Coffee Roasters Inc. (GMCR). The coffee company gave a weak first-quarter profit outlook due to higher marketing costs and an expected volatility in coffee costs, becoming the latest coffee company to take a hit due to soaring prices. The company, which raised coffee prices in October in response to rising coffee costs, expects a first-quarter adjusted profit of 14-18 cents a share.
• JPMorgan Chase & Co. (JPM). The bank is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank's home base.
• Microsoft Corp. (MSFT). The world's largest software company said November month was the best on record for xbox sales, helped by Kinect. 1.37 million of xbox consoles were sold, the company said. Separately, Microsoft, Adobe (ADBE) and other U.S. software manufacturers are pressing the Obama administration for a deal with China next week that could spur billions of dollars of additional U.S. software exports, an industry official said on Thursday.
• Sony Corp. (SNE). The electronic equipment maker on Friday said it shipped more than 5.5 million copies of Gran Turismo 5, the latest version of its motor-racing game franchise, in its first 12 days on sale.
• United Technologies Corp. (UTX). The diversified manufacturer set a wide 2011 profit target range, warning that a fluctuating euro and uncertain global economic recovery could hamper it from hitting its long-term earnings growth target of 10 percent or more. The company expected a profit of $5.05 to $5.35 per share in 2011.
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