Sunday, July 27, 2008

On Vacation

I am currently on Vacation in the Florida Keys for Lobster Season. I will return on Wednesday August 6th 2008.

Saturday, July 26, 2008

How Did We Get Into This Financial Mess?

Stock Market Review

7 Stocks You Need to Know for Monday

Kraft (KFT | Quote | Chart | News | PowerRating) reports earnings on Monday before the market opens. Analysts are expecting EPS of $0.50.

Traders bid shares of Legg Mason (LM | Quote | Chart | News | PowerRating) higher on Friday despite the company's announcement of its second consecutive quarterly loss.

Concern that major American automakers like Ford (F | Quote | Chart | News | PowerRating) are running out of cash led to record short interest in the stock as of Friday.

Reporting earnings Monday before the bell, Sohu.com (SOHU | Quote | Chart | News | PowerRating) is expected to announced earnings per share of $0.67 for the quarter.

Shares of the trendy footwear company Crocs (CROX | Quote | Chart | News | PowerRating) fell sharply on Friday as the company lowered their earnings forecast for the second quarter as well as the year.

Fortune Brands (FO | Quote | Chart | News | PowerRating), makers of whiskey and golf accessories, beat lowered Wall Street estimates by five cents in its earnings report on Friday.

Verizon (VZ | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $0.65 when the company reports earnings Monday morning before the open.

Friday, July 25, 2008

ICE

Intercontinental Exchange, Inc. has a good tone in early trading so keep it on the radar.

JOYG

Joy Global, Inc. received support at the 200 dma a few days ago and is acting well today so keep it on the radar.

GOOG

Google, Inc. has a good tone in early trading after being upgraded this morning so keep it on the radar.

Pre-Market Gappers

Gapping up:

MSO +10.0%, FRE +7.8%, MSCC +7.3%, DAIO +7.3%, NUVA +7.2%, RS +7.1%, RVBD +5.9%, DVA +5.5%, BKHM +5.0%, MCHP +4.5%, PLXS +4.3%, VISN +4.1%, HUN +4.0%, FNM +4.0%, ANGO +3.6%, GOLD +3.6%, MTD +3.3%, IFX +3.2%, PCX +3.0%, PWER +2.9%, BP +2.9%, MT +2.8%, NOK +2.8%, AZN +2.2%, TOT +2.2%, SONO +2.1%, BNI +1.8%, LNCE +1.7%, ANSS +1.4%, WDC +1.1%...

Gapping down:


CROX -50.8%, CPHD -26.4%, SIRF -26.1%, AFFX -25.4%, IBKR -13.2%, SGLP -13.1%, COLM -12.1%, VSEA -11.1%, LSCC -10.4%, POWI -9.9%, EPIC -8.8%, CVCO -6.3%, VLCM -5.9%, ES -5.8%, ACTG -5.6%, AXA -4.4%, NETL -4.0%, BMC -3.9%, ING -3.5%, ESIO -3.3%, ANF -3.1%, CLS -2.8%, RMBS -2.7%, UBS -2.6%, CYMI -2.5%, WYNN -1.4%, CS -1.4%, DDUP -1.1%.

Upgrades and Downgrades

Upgrades:

GOOG, BSMD, RTIX, SWN, JNPR, CCMP, NE

ESV, TER, RVBD, VDSI

Downgrades:


WB, AFFX, CAKE, DDR, WTSLA, ANF, TIF

ARO, CPHD, SBCF, UTEK, TASR, NLS, RF

CFNL, CROX, EPIC, DAI

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 2%

In Hong Kong the Hang Seng closed down 1.50%

European markets are trading lower by 1%

Durable Goods Orders (Jun , 2008)

Consumer Sentiment (Jul , 2008)

New Home Sales (Jun , 2008)

Yesterday the Dow lost 283 points

Crude Oil is $126 per barrel

Gold is $932 per ounce

Thursday, July 24, 2008

Stock Market Review

7 Stocks You Need to Know for Friday

Netflix (NFLX | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the market opens. Analysts are expecting EPS of $0.40.

Microsoft (MSFT | Quote | Chart | News | PowerRating) unveiled a $2.5 billion spending plan in an effort to compete with Google (GOOG | Quote | Chart | News | PowerRating) online

Analysts are expecting earnings per share of $0.55 when Coventry Health Care (CVH | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the bell.

Dow Chemical (DOW | Quote | Chart | News | PowerRating) and Eli Lilly (LLY | Quote | Chart | News | PowerRating) were notable among the minority of companies that missed earnings estimates on Thursday

Reporting earnings before the open tomorrow morning, Black & Decker (BDK | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $1.42

AMZN

Amazon.com is acting very well in early trading so keep it on the radar.

POT

Potash beats by $0.21, beats on revs (POT) 200.69 : Reports Q2 (Jun) earnings of $2.82 per share, $0.21 better than the First Call consensus of $2.61; revenues rose 93.7% year/year to $2.62 bln vs the $2.55 bln consensus. Quarterly potash gross margin of $886.4 mln was 240% higher than the $260.4 mln of last year's second quarter and approached FY07's gross margin, reflecting the benefit of rising prices.

BIDU

Baidu.com reported good earnings and the security is trading up on the news this morning so keep it on the radar.

Pre-Market Gappers

Gapping up:

BIDU +12.9%, NCC +10.4%, LSI +10.2%, SANM +9.5%, MLNX +9.1%, GSIC +8.0%, VAR +7.0%, AMZN +6.3%, ICO +6.2%, CRUS +5.6%, IRBT +5.4%, NTRI +4.3%, DOX +4.2%, POT +4.1%, NTGR +3.8%, TEX +3.8%, NWS +3.5%, AFOP +3.4%, DGII +3.2%, SY +2.9%, CTXS +2.7%, WB +2.5%, MCK +2.2%, NOK +1.1%...

Gapping down:


WFR -29.1%, CDNS -27.0%, CPTS -19.7%, SWIR -18.8%, NVEC -18.7%, WIRE -16.2%, CGX -15.7%, OMTR -14.2%, SKX -12.3%, DAI -10.8%, GDI -10.5%, CMG -8.7%, F -7.1%, LCC -7.1%, RYL -6.6%, FFIV -5.5%, AFL -3.7%, STLD -3.5%, VOD -3.3%, AEM -3.0%, NE -2.4%, LMC -2.3%, EQIX -1.3%.

Upgrades and Downgrades

Upgrades:

TCB, SXL, WFR, PPDI, CIB, SANM, APD

Downgrades:

BA, CHIC, SWIR, CMG, MCD, AUXL, RJF

CTXS, GDI, PHLY, COST, TEF

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed up 2.18%

In Hong Kong the Hang Seng closed down 0.20%

European markets are trading down about 1%

Jobless Claims (wk7/19 , 2008)

Existing Home Sales (Jun , 2008)

EIA Natural Gas Report (wk7/18 , 2008)

Money Supply (wk7/14 , 2008)

Ford Posts 8.7 Billion Losss on Credit-Union Writedown

Dow Chemical Net Falls 27%

Daimler Cuts Full-Year Forcast

Credit Suisse Earnings Beat Analysts' Estimates

Crude Oil is $125 per barrel

Gold is $925 per ounce

Wednesday, July 23, 2008

Stock Market Review

7 Stocks You Need to Know for Thursday

Analysts are expecting earnings per share of $1.35 from 3M (MMM | Quote | Chart | News | PowerRating) when it reports earnings Thursday morning before the market opens.

Congress is set to vote on a "rescue package" for troubled mortgage lending giants Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating).

Reporting earnings tomorrow morning before the open, Dow Chemical (DOW | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $0.85.

Medco Health Solutions (MHS | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $0.54 when it reports tomorrow before the bell.

EMC Corporation (EMC | Quote | Chart | News | PowerRating) beat analyst's earnings estimates and raised its 2008 sales forecast due to gains in revenue from software and computer services.

Eli Lilly (LLY | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the bell. Analysts are expecting EPS of $1.00.

Stock Acting Well in Early Trading

AAPL, AMZN, BIDU, GOOG,

ILMN, ISRG, RIMM

ESI CHART


ITT Tech breaks out over $90 per share so keep it on the radar.

Pre-Market Gappers

Gapping up:

INFN +16.8%, ISRG +11.7%, UAUA +7.0%, EMC +6.3%, RNT +5.1%, RBS +4.7%, VOCS +4.7%, BCS +4.3%, ILMN +4.2%, AXYS +4.1%, PFE +3.0%, YHOO +2.8%, NSC +2.6%, AXA +2.5%, PMTC +2.2%, HBC +2.1%, RJF +1.8%, MT +1.5%,...

Gapping down:

AEHR -31.6%, ANAD -17.7%, ETFC -15.6%, VMW -14.4%, ADCT -12.3%, COST -8.3%, ZMH -8.3%, CHRW -7.8%, PTV -6.5%, BRCM -5.1%, SEAB -4.2%, WM -4.1%, XTO -3.0%, RCL -2.6%, GSK -2.6%, LLTC -2.2%, NOK -2.1%, CPB -1.7%, WM -1.4%, SHPGY -1.3%.

Upgrades and Downgrades

Upgrades:

BHI, SGLP, SYNA, EAS, SU, SNN,

AXA, STI, FRO, AKS, NAT

Downgrades:

ANAD, WM, CHRW, SEAB, FORM, ZMH,

AXL, ALV, CYN, AIRV, MIR, GMR,

SNIC, ADCT

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed up 1%

In Hong Kong the Hang Seng closed up 2.7%

European markets are trading higher

MBA Purchase Applications (wk7/18 , 2008)

EIA Petroleum Status Report (wk7/18 , 2008)

Beige Book (Jun , 2008)

Pfizer profit more then doubles on lower costs

Crude Oil is $126 per barrel

Gold is $933 per ounce

Tuesday, July 22, 2008

Stock Market Review

7 Stocks You Need to Know for Wednesday

PepsiAmericas beat earnings estimates and raised guidance for the year today. Pepsico (PEP | Quote | Chart | News | PowerRating) reports earnings tomorrow morning, with analysts expecting EPS of $1.02. The stock was up more than 2% in advance of Wednesday's announcement.

Promises to cut $2 billion by the end of 2009 and a major dividend cut sent shares of Wachovia (WB | Quote | Chart | News | PowerRating) soaring on Tuesday, despite the company's abysmal earnings report. Shares of Wachovia ended the day higher by more than 27%.

Tomorrow morning before the market opens, Boeing (BA | Quote | Chart | News | PowerRating) is expected to report earnings per share of $1.22 for the quarter. The stock was up a little more than 1% on the day.

JetBlue Airways Corporation (JBLU | Quote | Chart | News | PowerRating) and US Airways Group Inc. (LCC | Quote | Chart | News | PowerRating) both surprised analysts on Tuesday by beating estimates. JetBlue was up more than 15%. US Airways climbed by more than 58%.

Analyts are expecting McDonalds (MCD | Quote | Chart | News | PowerRating) to report earnings per share of $0.86 Wednesday morning before the bell. The stock was up slightly on Tuesday.

AT&T (T | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the open. Analysts are expecting EPS of $0.76. T was virtually unchanged when the markets closed on Tuesday.

Stocks in Play

BNI, CME, CELG, GRMN, ICE,

GOOG, UNP

Pre-Market Gappers

Gapping up:

BXG +108.1%, FDRY +32.4%, STI +6.8%, WGOV +4.1%, PDE +3.9%, STLD +3.9%, VLTR +3.6%, BP +2.3%, TOT +1.9%, DD +1.9%, PNRA +1.3%, QLGC +1.2%, PKG +1.1%, WPI +1.0%, RDS.A +1.0%...

Gapping down:


BRCD -18.2%, VOD -13.7%, SNDK -13.0%, WB -12%, TXN -12.0%, AXP -12.0%, AAPL -10.5%, MRK -7.3%, DFS -6.2%, COF -6.1%, DT -6.1%, STM -5.4%, WB -4.5%, FRE -4.0%, PAAS -3.7%, ALV -3.7%, MHK -3.5%, MA -3.3%, SGP -3.2%, NOK -3.0%, V -3.0%, CSCO -2.3%, WCG -2.2%, BBY -1.6%, LNCR -1.5%, FNM -1.1%.

Upgrades and Downgrades

Upgrades:

QLGC, PETS, MSPD

Downgrades:


SPSN, QI, MU, BMI, HOT, SFI

CRM, SNDK, ADSK, AGO, AUO, LFL

LEVP

Morning News

Futures are pointing to a much lower open

In Japan the Nikkei 225 closed up 3%

In Hong Kong the Hang Seng was flat

European markets are trading lower

ICSC-UBS Store Sales (wk7/19 , 2008)

Redbook (wk7/19 , 2008)

State Street Investor Confiden (Jul , 2008)

Apple, Inc. reports lower then expected earnings

American Express reports lower then expected earnings

Crude Oil is $131 per barrel

Gold is $973.50 per ounce

Monday, July 21, 2008

Stock Market Review

7 Stocks You Need to Know for Tuesday

Swiss pharmaceutical giant Roche announced a $43.7 billion bid for the 44% of Genentech (DNA | Quote | Chart | News | PowerRating) it does not already own. Shares of Genentech closed up more than 14%.

Wachovia (WB | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the opening bell. Analysts are expecting a loss of $0.78 per share. Wachovia ended the day up a little more than 1%.

Disappointing results over the drug, Vytorin, that it is co-marketing with Merck, led to losses for Schering-Plough (SGP | Quote | Chart | News | PowerRating) on Monday. The stock was down more than 11%.

Bank of America (BAC | Quote | Chart | News | PowerRating) reported earnings on Monday that were lower, but not as bad as feared by analysts. Bank of America shares ended the day up more than 3%.

In the latest move of the Great Yang/Icahn Showdown, the activist investor has agreed to accept three seats on the Yahoo! (YHOO | Quote | Chart | News | PowerRating) board of directors rather than follow-through on a proxy fight. The stock closed lower by more than 3%.

Reporting earnings before the market opens on Tuesday, Caterpillar (CAT | Quote | Chart | News | PowerRating) is expected to announce EPS of $1.54. Traders bid shares of CAT higher by more than 3%.

Analysts are expecting earnings per share of $3.86 when the CME Group Inc. (CME | Quote | Chart | News | PowerRating) reports earnings tomorrow before the bell. CME was off slightly at a little more than 2% on Monday.

CELG CHART


Celgene Corp. has a possible bull flag on a daily chart so keep it on the radar.

RIMM

Research in Motion is acting well in early trading so keep it on the radar.

V

Visa, Inc. has a good tone in early trading so keep it on the radar.

BIDU

Baidu.com has a decent tone in early trading so keep it on the radar.

POT

Potash, Inc. has a good tone in early trading so keep it on the radar. Resistance is at the 50 dma around $214.15. Closing above this level would be bullish.

Nasdaq Chart

Pre-Market Gappers

Gapping up:

DNA +10.0%, WM +8.6%, BAC +8.4%, WB +7.2%, YHOO +4.9%, BHP +4.8%, UBS +4.7%, ING +4.6%, BTU +4.5%, MT +4.4%, RTP +4.4%, BCS +4.3%, AAUK +4.2%, C +3.4%, STO +2.8%, ASML +2.8%, CS +2.4%, XMSR +2.3%, AXA +1.9%, TOT +1.3%...

Gapping down:


SHPGY -3.0%, GFI -2.2%, CCL -1.7%,AZN -1.2%.

Upgrades and Downgrades

Upgrades:

TEVA, ROCK, AMR, NTES, AIG, KEY

Downgrades:

MSW, CEG, SWK, BRL, TXT, WERN, WIT

SAY, NKE, KBW

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed down 0.65%

In Hong Kong the Hang Seng closed up 3.01%

European markets are trading higher by 1%

Leading Indicators (Jun , 2008)

Bank of America Earnings Drop less then expected

Crude Oil is $131 per barrel

Gold is $968 per ounce

Sunday, July 20, 2008

Stock Market Review

7 Stocks you need to know for Monday

Bank of America (BAC | Quote | Chart | News | PowerRating) reports earnings Monday before the markets open. Analysts are expecting EPS of $0.53.

Republic Services (RSG | Quote | Chart | News | PowerRating) announced that it was not interested in the unsolicited bid from Waste Management Inc. (WMI | Quote | Chart | News | PowerRating) and would instead to continue to pursue Allied Waste Industries (AW | Quote | Chart | News | PowerRating).

Reporting earnings before the bell on Monday, Merck (MRK | Quote | Chart | News | PowerRating) is expected to announced per share earnings of $0.83.

A smaller than expected loss in its earnings report on Friday helped boost shares of Citigroup (C | Quote | Chart | News | PowerRating) by more than 9% late in trading on Friday.

Teva Pharmaceutical Industries (TEVA | Quote | Chart | News | PowerRating) announced that it was buying Barr Pharmaceuticals for $7.46 billion.

Saturday, July 19, 2008

VIDEO - Flags (bearish)

A new video - Flags (bearish) - has been added to the Leavitt Brothers' Chart Pattern tutorials...

Bullish Chart Patterns

VIDEO - Symmetrical Triangles

VIDEO - Ascending Triangles

VIDEO - Wedges

VIDEO - Flags

Bearish Chart Patterns

VIDEO - Descending Triangles

VIDEO - Wedges

VIDEO - Flags

VIDEO - Pennants

VIDEO - Rectangles

http://www.leavittbrothers.com/

Friday, July 18, 2008

Pre-Market Gappers

Gapping up:

PNCL +17.1%, BRL +10.2%, WTS +8.8%, UAUA +8.5%, CBST +8.5%, SMA +4.4%, SWKS +4.1%, WERN +4.0%, MAT +3.9%, TPX +3.8%, BCS +3.6%, C +3.1%, SPWR +3.0%, GSK +2.6%, PCX +2.2%, CS +2.0%, SNY +2.0%, CLF +1.8%, UBS +1.8%, VMI +1.5%, ICUI +1.2%...

Gapping down:


ESLR -12.3%, GOOG -8.0%, AMD -7.4%, MER -5.6%, MSFT -5.5%, INDB -4.4%, FRE -4.0%, GILD -3.9%, TEVA -3.8%, BXS -3.2%, GOLD -2.6%, SYK -2.1%, PMCS -1.9%, SHPGY -1.8%.

Upgrades and Downgrades

Upgrades:

ETR, YUM, NGG, WERN, AVR, VSE

WPPGY, UAUA

Downgrades:


GILD, AMTD, BBY, IGT, SGLP, SUN

TSO, VCLK, AGN, SMTS, VRTU

Morning News

Futures are pointing to a slightly higher open

In Japan the Nikkei 225 closed down 0.65%

In Hong Kong the Hang Seng closed up 0.65%

European markets are trading higher

Citigroup reports smaller then estimated loss of $2.5 billion

Google, Microsoft drop as earnings are below estimates

Schlumberger second quarter profit rises 13%

Crude Oil is $131.30 per barrel

Gold is down $10.50 per ounce and is $960 per ounce

Thursday, July 17, 2008

Stock Market Review

7 Stocks you need to know for Friday

Higher fees for investment banking helped JP Morgan (JPM | Quote | Chart | News | PowerRating) blow away earnings estimates on Thursday, beating expectations by 10 cents. JP Morgan closed up more than 13%.

Microsoft (MSFT | Quote | Chart | News | PowerRating) reported earnings Thursday after the closing bell, announcing EPS of $0.46 and missing estimates by a penny. The stock had closed up by just under 1% that day.

Also reporting earnings after the market closed on Thursday, Google (GOOG | Quote | Chart | News | PowerRating) missed earnings estimates by 11 cents. Google had ended the day slightly lower.

Reporting earnings before the bell on Friday, Citigroup (C | Quote | Chart | News | PowerRating) is expected to announce a loss of $0.61 per share. Citigroup closed up by more than 9% on Thursday.

IBM (IBM | Quote | Chart | News | PowerRating) blew away earnings estimates this evening after the bell, beating the number by 16 cents. Shares of IBM had edged higher by the close of trading on Thursday.

Merrill Lynch (MER | Quote | Chart | News | PowerRating) missed analyst earnings estimates by a wide margin on Thursday, reporting a loss of $4.97 when a loss of $1.91 was expected. Traders had bid MER higher by more than 9% in advance of the earnings announcement.

Schlumberger (SLB | Quote | Chart | News | PowerRating) reports earnings Friday morning before the bell. Analysts are expecting EPS of $1.12.

UTHR

United Therapeutics, Corp. is acting well today so keep it on the radar this afternoon.

MA

Mastercard has a good tone in early trading so keep it on the radar.

SPWR

Sunpower beats by $0.10, beats on revs; guides Q3 EPS in-line, revs in-line; guides FY08 EPS above consensus, revs above consensus; guides FY09 EPS above consensus, revs above consensus

DNA

Genetech was initiated with a BUY at Citigroup with a price target of $91 per share so keep it on the radar.

Pre-Market Gappers

Gapping up:

BRL +11.3%, ABK +10.0%, FNM +9.7%, RECN +8.8%, NOK +7.4%, FRE +7.3%, WM +6.4%, LEH +6.3%, CCK +6.2%, KMP +5.3%, JPM +4.2%, ADS +2.6%, BLK +2.6%, KO +2.2%, TBI +2.1%, HUN +2.0%, HOKU +1.7%, BMRN +1.1%...

Gapping down:

EBAY -9.3%, TCBI -5.7%, YUM -4.7%, MT -3.3%, PLCM -3.2%, XLNX -2.8%, UFPI -2.3%, CSIQ -1.8%, DHR -1.4%.

Upgrades and Downgrades

Upgrades:

EOG, HOT, PFCB, ACE, MI, MCHP

CNB, LLTC, BBBB

Downgrades:

AMRI, INTV, HST, DRH, FCH, AHT

BEE, SBUX, WFC, AMB, GGC

Morning News

Futures are pointing to a higher open

Asian markets are trading higher

European markets are trading higher

Housing Starts (Jun , 2008)

Jobless Claims (wk7/12 , 2008)

Philadelphia Fed Survey (Jul , 2008)

EIA Natural Gas Report (wk7/11 , 2008)

Money Supply (wk7/7 , 2008)

Crude Oil is $133.50 per barrel

Gold is $957 per ounce

Wednesday, July 16, 2008

Stock Market Review

7 Stocks you need to know for Thursday

Soaring higher by more than 12% on Wednesday, shares of Altera Corporation (ALTR | Quote | Chart | News | PowerRating) responded positively to the company's second quarter earnings, which beat analyst estimates by $0.05.

Announcing earnings Thursday before the market opens, Coca Cola (KO | Quote | Chart | News | PowerRating) is expected to report EPS of $0.96. The stock was up 1% on the day.

Declining advertising sales were among the factors cited by Gannett Company (GCI | Quote | Chart | News | PowerRating) for its fall-off in quarterly profits. The stock was lower by 4% on Wednesday.

Nucor (NUE | Quote | Chart | News | PowerRating) reports earnings Thursday before the bell, with analysts expecting earnings per share of $1.80. Shares were higher by 5% in advance of the earnings report.

St. Jude Medical Corporation (STJ | Quote | Chart | News | PowerRating) closed up by more than 7% on Wednesday, beating earnings estimates as it reported a near 50% increase in profits.

Analysts are expecting earnings per share of $0.32 when TD Ameritrade (AMTD | Quote | Chart | News | PowerRating) reports Thursday morning before the market opens. AMTD closed higher by more than 11% on Wednesday.

Wells Fargo (WFC | Quote | Chart | News | PowerRating) surprised analysts Wednesday by beating earnings estimates by $0.03 and announcing a dividend increase. The stock ended the day higher by more than 32%.

Stocks to Watch going into the Close

AMZN, MA, V, GS, LEH, BIDU,

RKH, GOOG, ICE and ISRG

FSLR

First Solar, Inc. has a good tone in early trading so keep it on the radar.

What if your bank fails? Is your money safe?

The government's seizure of IndyMac Bank raises concerns for many consumers about whether their banks might be next.

While it is unlikely the nation will see thousands of banks fail as they did during the savings and loan industry collapse in the late 1980s and early '90s, analysts predict there will be more battered financial institutions that are unable to survive in today's marketplace.

"IndyMac's failure is certainly a broader issue," said Eva Weber, an analyst at Aite Group, a financial services research firm. "Those who are trenched in more risky business, who are feeling more heavy losses, may be at more risk."

Full Article



BRCM

Broadcom breaks out over $29.15 so keep it on the trading radar.

BRCM CHART

Pre-Market Gappers

Gapping up:

ANR +27.5%, JAVA +11.4%, CSGP +7.9%, ALTR +7.5%, FNM +7.5%, FRE +6.5%, MEE +5.5%, LEH +5.1%, PWR +5.1%, CSE +4.1%, CHNR +3.6%, GFI +2.7%, TRN +1.9%, RMBS +1.6%...

Gapping down:


OESX -35.5%, ASML -13.7%, CBI -12.6%, RBS -11.6%, STX -10.1%, NITE -8.8%, PAC -6.3%, BCS -5.5%, LYG -5.4%, CLF -4.9%, AXA -4.4%, DB -4.3%, ING -3.7%, DLR -3.4%, CS -2.9%, HBC -2.4%, CSCO -2.1%, UBS -2.0%, RDS.A -1.3%.

Break Out List Market Technical Analysis

Upgrades and Downgrades

Upgrades:

CXO, ARD, BBG, PFCB, NLC, BWA

Downgrades:

ERES, CBI, PVA, OIIM, BEXP, SAI

INFA, LEVP, VRAZ, CSCO, ADCT, OPTM

ADTN, CIEN, SSP, ESE, TWTC, WM

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed up 0.05%

In Hong Kong the Hang Seng closed up 0.23%

European markets are trading lower

MBA Purchase Applications (wk7/11 , 2008)

Consumer Price Index (Jun , 2008)

Treasury International Capital (May , 2008)

Industrial Production (Jun , 2008)

EIA Petroleum Status Report (wk7/11 , 2008)

Housing Market Index (Jul , 2008)

FOMC Minutes (Jun , 2008)

Crude Oil is 137 per barrel

Gold is $976 per ounce

Tuesday, July 15, 2008

Stock Market Review

7 Stocks you need to know for Wednesday

The SEC announced that it will place restrictions on short selling in both Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) as hedge fund manager William Ackman placed his bets against the struggling mortgage lenders. Fannie Mae was lower by more than 27% on the day. Freddie Mac finished down 26%.

Analysts are expecting EPS of $0.79 when Abbott Labs (ABT | Quote | Chart | News | PowerRating) reports earnings Wednesday before the market opens. Abbott Labs closed Tuesday up nearly 3%.

Intel (INTC | Quote | Chart | News | PowerRating) beat analyst estimates by $0.03 in its earnings report Tuesday after the close. The stock was higher by 3% minutes after the announcement.

General Motors (GM | Quote | Chart | News | PowerRating) will suspend its dividend as part of an effort to raise $15 billion by the end of 2009. General Motors finished Tuesday up nearly 5%.

A Wachovia downgrade to "market perform" helped drive shares of American International Group (AIG | Quote | Chart | News | PowerRating) to their lowest levels in more than a decade. Shares of AIG were lower by more than 8%.

eBay (EBAY | Quote | Chart | News | PowerRating) reports earnings Wednesday after the close. Analysts are expecting earnings per share of 0.41. The stock was down 2% on Tuesday.

CWTR

Women's apparel retailer Coldwater Creek Inc raised its outlook for the second quarter and full year so keep it on the radar.

Pre-Market Gappers

Gapping up:

CWTR +12.3%, FHN +5.4%, ETFC +5.3%, BBX +4.4%, SAF +4.3%, THRX +1.9%, SD +1.6%, WMB +1.5%, DNA +1.4%, WM +1.2%...

Gapping down:

SAH -12.1%, WB -10.1%, KMB -6.9%, AIG -6.9%, CSIQ -6.0%, FNM -5.1%, AXA -4.2%, ING -3.8%, LMC -3.4%, C -2.7%, GMXR -2.4%, ETP -2.2%, BAC -2.2%, NVLS -2.0%, COF -2.0%, MER -1.9%, JPM -1.9%, LEH -1.6%, AAPL -1.5%, UBS -1.4%, CEF -1.4%.

OXPS

Options Xpress initiated with a BUY at JMP Securities with a price target of $29 per share so keep it on the radar.

FFIV

F5 Networks initiated with a buy at Pacific Growth Equities

Upgrades and Downgrades

Upgrades:

ACGY, SGP, RATE, NKE, CSGS,

LEN, EHTH

Downgrades:

SHO, GDNNY, MTN, AIG, TWTI,

KMB, WB

Morning News

Futures are pointing to a much lower open

In Japan the Nikkei 225 closed down 1.96%

In Hong Kong the Hang Seng closed down 3.81%

European markets are trading lower by 2.5%

ICSC-UBS Store Sales (wk7/12 , 2008)

Empire State Mfg Survey (Jul , 2008)

Retail Sales (Jun , 2008)

Producer Price Index (Jun , 2008)

Redbook (wk7/12 , 2008)

Business Inventories (May , 2008)

Crude Oil is $146.60 per barrel

Gold is $986 per ounce

Monday, July 14, 2008

Economic Data this Week

Key Earnings this Week

Stock Market Review

7 Stocks you need to know for Tuesday

Washington Mutual (WM | Quote | Chart | News | PowerRating) suffered its steepest decline since going public on a report from Lehman Brothers that the bank could report losses of $26 billion in 2008. The stock plunged more than 34% on Monday.

In other merger - or would-be merger - news, Yahoo! (YHOO | Quote | Chart | News | PowerRating) today announced that it had rejected another offer from Microsoft (MSFT | Quote | Chart | News | PowerRating) that would have involved breaking up the company. Shares of Yahoo! were lower by more than 4%.

Waste Management (WMI | Quote | Chart | News | PowerRating) launched an unsolicited $6.2 billion bid for Republic Services (RSG | Quote | Chart | News | PowerRating), which is currently being pursued by Allied Waste Industries (AW | Quote | Chart | News | PowerRating). Waste Management was down more than 5% on the news.

Netflix (NFLX | Quote | Chart | News | PowerRating) is poised to announce plans to distribute films and movies over the Internet for subscribers who use Microsoft's XBox video console system. Netflix was higher by more than 2% on the day.

CSIQ

Canadian Solar, Inc. is acting well today so keep it on the radar. The 50 dma appears to be resistance. Closing above this level would be bullish.

ATI

Allegheny Tech is a deeply oversold stock where the rsi was under 30 and is rallying today so keep it on the trading radar.

ATI CHART

FSLR

First Solar, Inc. is in a bullish power trend in early trading so keep it on the radar.

AAPL

Apple, Inc. is acting well in early trading so keep it on the radar.

POT

Potash, Inc. has a good tone in early trading so keep it on the radar.

Pre-Market Gappers

Gapping up:

FNM +29.1%, FRE +28.0%, LEH +10.9%, ATI +8.3%, MFA +7.2%, MBI +6.7%, PHG +5.8%, WB +4.9%, C +3.7%, MER +3.7%, GS +2.5%, BHP +2.5%, PPG +1.8%, BUD +1.7%, RTP +1.6%...

Gapping down:

IMB -10.7%.

Break Out List Market Technical Analysis

Upgrades and Downgrades

Upgrades:

DA, SNDA, CIEN, ISIL, OC, NOV, KCI

GOOD, FAST, GENZ, M, DF, UFS, LPX

Downgrades:

TRIN, PSO, WB

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed down 0.23%

In Hong Kong the Hang Seng closed down 0.77%

European markets are trading higher up 1.5%

Paulson puts Treasury behind Fannie Mae, Freddie Mac to calm market

InBev agrees to Buy Anheuser-Busch for $52 Billion

TNT shares jump on report FedEx May Make an Offer

Crude Oil is $144 per barrel

Gold is $961 per ounce

VIDEO - Wedges (bullish)

Sunday, July 13, 2008

Stock Market Review

7 Stocks you need to know for Monday

Anheuser-Busch (BUD | Quote | Chart | News | PowerRating) rejoined talks with would-be acquirer InBev after the Belgian brewer raised its bid to $70 per share.

Shares of Lehman Brothers Holdings (LEH | Quote | Chart | News | PowerRating) were lower by more than 16% as traders bet that the company was headed for a Bear Stearns-like meltdown.

Long lines, excited shoppers and a few technical glitches at activation time characterized the launch of the new G3 iPhone from Apple (AAPL | Quote | Chart | News | PowerRating) today. Shares of the company's stock were down just over 2%.

Although in-line with analyst estimates, General Electric (GE | Quote | Chart | News | PowerRating) reported a profit shortfall of 6% for the second quarter this morning before the bell. General Electric finished the day largely unchanged.

Yamana Gold (AUY | Quote | Chart | News | PowerRating) was among the many gold stocks that rallied during Friday's largely bearish trading. The stock was up more than 6%.

Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) rallied strongly from major intraday lows on Friday on news that Fed chairman Bernanke would permit the two companies to borrow from the discount window. Fannie Mae closed down more than 20%. Freddie Mac finished the day down a little more than 3%.

Do you think Freddie Mac will be Up or Down on Tuesday? Play the TradingMarkets Up or Down Stock Contest for your chance to win $1,000 by correctly guessing the direction of a stock!

Friday, July 11, 2008

MA

Mastercard, Inc. is bucking the trend in early trading so keep it on the radar.

JEC

Jacobs added to Goldman Sachs Conviction Buy List

SPWR

Sun Power was initiated with a buy at Caris & Co. and given a price target of $80 per share so keep it on the radar.

FSLR

First Solar was initiated with a buy at Caris & Co. and given a price target of $350 per share so keep it on the radar.

GOOG

Google was initiated with a buy and given a price target of $635 by Deutsche Securities so keep it on the radar.

Pre-Market Gappers

Gapping up:

TMA +21.1%, WYNN +13.0%, LVS +8.8%, CRBC +8.1%, MGM +5.2%, MA +4.7%, BABY +4.3%, DRI +4.0%, BUD +2.9%, RMBS +2.7%, DECK +2.2%, ASYT +1.8%, GE +1.7%, RRGB +1.6%, HSP +1.5%, BYD +1.4%, CHK +1.4%...

Gapping down:

FRE -25.0%, FNM -24.2%, WCG -11.1%, LWSN -5.9%, VE -5.8%, INFY -4.5%, LEH -4.2%, ELX -3.8%, ALU -3.6%, ING -2.6%, DB -2.3%, MT -2.3%, AXA -2.2%, FMS -2.1%, AMAT -1.3%.

WFR

Memc Electronics was initiated with a buy at Caris and Co. and given a price target of $60 per share so keep it on the radar.

Break Out List Market Technical Analysis

Upgrades and Downgrades

Upgrades:

APSG, CHU, CN, CRDN, CENX, JEC, APC

CRZO, MS, CMC, STLD, SVR, ACGY

Downgrades:

AMAT, MAR, DVA, ELN, ELX, ROH, TUES

BGFV, FMS, PHG, MBRK

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 0.21%

In Hong Kong the Hang Seng closed up 1.66%

European markets are trading lower

Import and Export Prices (Jun , 2008)

International Trade (May , 2008)

Consumer Sentiment (Jul , 2008)

Treasury Budget (Jun , 2008)

Crude Oil is $145 per barrel

Gold is $952 per ounce

Thursday, July 10, 2008

Stock Market Review

7 Stocks you need to know for Friday

Toyota Motor Corporation (TM | Quote | Chart | News | PowerRating) announced plans to make its popular hybrid car, the Prius, in the United States. Toyota closed marginally higher by a little over 1%.

Shares of Alcoa (AA | Quote | Chart | News | PowerRating) soared on record prices for aluminum brought about by a decision by smelters in China to reduce output. The stock was higher by more than 9% on the day.

Federal income tax rebates were credited for boosting June sales for retailers such as Wal-Mart (WMT | Quote | Chart | News | PowerRating) and Costco (COST | Quote | Chart | News | PowerRating). Both stocks ended Thursday lower by less than 2%.

Speculation that Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) may ultimately need to be bailed out by the Federal government encouraged further selling by investors and traders on Thursday. Fannie Mae was down by more than 13%. Freddie Mac plunged more than 22%.

Dow Chemical (DOW | Quote | Chart | News | PowerRating) made its largest acquisition ever in buying chemical company Rohm & Haas for $18.8 billion - including financing from Berkshire Hathaway and the Kuwait Investment Authority. Dow Chemical ended Thursday lower by more than 4%.

BIDU

Baidu.com has a good tone in early trading so keep it on the radar.

Pre-Market Gappers

Gapping up:

ROH +69.3%, CTLM +52.5%, RT +20.0%, HUN +16.7%, CPKI +8.7%, SGR +4.9%, INTV +3.9%, BAC +3.3%, CLR +3.0%, MT +3.0%, WB +2.9%, CS +2.6%, RTP +2.5%, UBS +2.5%, WMT +2.3%, CBE +2.2%, DB +2.2%, HLYS +2.1%, BEBE +2.0%, BHP +1.7%, BIIB +1.6%, AIR +1.5%, CHTT +1.5%, GHL +1.4%, T +1.2%, BDX +1.0%...

Gapping down:

TQNT -9.0%, DOW -8.0%, ZUMZ -7.9%, MW -5.2%, HGIC -2.4%, GOLD -1.6%.

Upgrades and Downgrades

Upgrades:

CCC, NSC, BP

Downgrades:

NXY, LUX, OPXT, MAN, COLB,

ETM, CXR, MC

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed up 0.12%

In Hong Kong the Hang Seng closed up 0.07%

European markets are trading lower

Chain Store Sales (Jun , 2008)

Jobless Claims (wk7/5 , 2008)

EIA Natural Gas Report (wk7/4 , 2008)

Money Supply (wk6/30 , 2008)

Crude Oil is $136.25 per barrel

Gold is $932 per ounce

Wednesday, July 09, 2008

Stock Market Review

7 Stocks you need to know for Thursday

Northwest Airlines (NWA | Quote | Chart | News | PowerRating) announced on Wednesday that they would eliminate up to 2,500 jobs and begin charging passengers for all checked luggage. The stock was down by more than 15%.

Analysts at UBS and Merrill Lynch suspect that the slowing economy is likely to impact the earnings of technology companies such as Cisco (CSCO | Quote | Chart | News | PowerRating) and Intel (INTC | Quote | Chart | News | PowerRating) respectively. Both stocks closed lower by more than 5% on Wednesday.

Boeing (BA | Quote | Chart | News | PowerRating) will get another shot at the $35 billion tanker deal with the Air Force, according to the Department of Defense. Boeing closed down slightly, but off its intraday highs.

Texas Industries (TXI | Quote | Chart | News | PowerRating) reports earnings Thursday morning before the bell, with analysts expecting EPS of $0.82. The stock was down more than 4% on
Wednesday.

Fannie Mae (FNM | Quote | Chart | News | PowerRating) was forced by to pay record yield spreads by buyers of its 2-year notes who were concerned about the mortgage giant's capacity to
survive the crisis in housing market. Fannie Mae closed lower by more than 13%.

U.S. Steel (X | Quote | Chart | News | PowerRating) led steel stocks higher on Wednesday. Steel stocks as a group moved higher after a UBS analyst said the sector was "undervalued." U.S. Steel closed up by more than 5%, but significantly off its intraday highs.

Steel Stocks to Watch

CLF, X, ZEUS

BIDU

Baidu.com continues to act well so keep it on the radar.

AG Chem Stocks to Watch

AGU, BG, CF, MOS, MON, POT and TNH

NUE and STLD

UBS upgrades Nucor (NUE 63.16) to Buy from Neutral... UBS upgrades Steel Dynamics (STLD 31.70) to Buy from Neutral.

CCJ

Cameco Corp. was upgraded this morning so keep it on the radar.

RIG

Transocean was upgraded this morning so keep it on the radar.

Pre-Market Gappers

Gapping up:

SGXP +119.0%, CIR +12.1%, EEEI +11.5%, GIII +11.5%, CACH +9.3%, CLF +6.3%, FRPT +4.4%, WB +3.5%, AA +3.5%, BCS +3.3%, FNM +2.8%, EZPW +2.3%, SLB +1.9%, GFI +1.9%, FRE +1.8%, ACGY +1.6%, SNN +1.6%, CS +1.4%, ING +1.2%...

Gapping down:

ARRS -16.9%, PRXI -11.8%, MTSN -9.6%, VVC -5.1%, CHK -4.7%, YRCW -3.7%, DRIV -3.6%, MHK -3.3%, HURN -2.9%, TOMO -2.3%, GLT -2.3%, UNCA -2.3%, BP -1.5%, TOT -1.2%.

Upgrades and Downgrades

Upgrades:

FSYS, GU, RIG, CCJ, AA, STLD, NUE

XNPT, CTX, PVG, HDB, SXT


Downgrades:

OMX, EIG, ACE, PAC, NCX, MC, FUL

Morning News

Futures are currently flat

In Japan the Nikkei 225 closed up 0.15%

In Hong Kong the Hang Seng closed up 2.76%

European markets are currently higher by 1%

MBA Purchase Applications (wk7/4 , 2008)

EIA Petroleum Status Report (wk7/4 , 2008)

Crude Oil is $137.70 per barrel

Gold is $920 per ounce

Tuesday, July 08, 2008

Stock Market Review

7 Stocks you need to know for Wednesday

Apple Inc. (AAPL | Quote | Chart | News | PowerRating) announced plans to sell its iPhone 3G on Friday July 11th at 8 am across time zones. Apple, up more than 2% on Tuesday, gained for the third day in a row.

Anheuser-Busch (BUD | Quote | Chart | News | PowerRating) asked a federal judge to block the planned, $43.6 billion takeover by Belgian beermarker, InBev. The stock was virtually unchanged on Tuesday.

Shaw Group (SGP | Quote | Chart | News | PowerRating) reports earnings Wednesday after the close. Analysts are expecting EPS of $0.63. The stock was up more than 4% on Tuesday, marking its fourth consecutive higher high.

Reporting earnings on Tuesday after the closing bell, Alcoa (AA | Quote | Chart | News | PowerRating) announced EPS of $0.66, in line with analyst estimates. The stock had closed lower by more than 3% in advance of the earnings report.

Shares of VMWare (VMW | Quote | Chart | News | PowerRating) were down more than 24% on Tuesday on news that the company had ousted its CEO and co-founder Diane Greene and was lowering its revenue forecast for the second quarter.

Biogen Idec (BIIB | Quote | Chart | News | PowerRating) was among the big gainers among health care stocks today as the company electecd to raise the price on its multiple sclerosis drugs. The stock closed higher by nearly 7%.

Railroad Stocks to Watch

BNI, NSC and UNP

MA

MasterCard tgt raised to $320 from $245 at Morgan Stanley

MasterCard upgraded to Outperform from Market Perform at Raymond James

VIX CHART


The last few times we put in short term bottoms the Vix was over 35.

BIDU

Baidu.com checks indicate June quarter is tracking slightly above street ests- Piper Jaffray

Pre-Market Gappers

Gapping up:

OPWV +11.5%, UXG +8.3%, BPHX +7.5%, BEXP +5.9%, YGE +4.8%, GSK +4.3%, TRLG +3.9%, MDVN +3.7%, GMXR +2.2%, UBS +1.6%, TEVA +1.1%...

Gapping down:

RLC -67.4%, IMB -32.4%, ODP -11.1%, GOLD -4.3%, LMC -3.6%, TS -3.4%, SNV -3.0%, AOB -3.0%, LYG -2.6%, BCS -2.5%, MT -2.3%, BCS -1.7%, HOGS -1.6%.

Upgrades and Downgrades

Upgrades:

MDVN, ACE, NCR, FULT, VLY, WDFC

CT, MMC, ACAD

Downgrades:

TWB, GYMB, AACC, SKYE, SNV, TRX

TEVA, DSL, OMC, WSH

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 2.45%

In Hong Kong the Hang Seng closed down 3.16%

European markets are trading lower

ICSC-UBS Store Sales (wk7/5 , 2008)
Redbook (wk7/5 , 2008)
Pending Home Sales Index (May , 2008)
Wholesale Trade (May , 2008)
Consumer Credit (May , 2008)

Crude Oil is trading lower and is $139.50 per barrel

Gold is trading lower and is $922 per ounce

Monday, July 07, 2008

Stock Market Review

7 Stocks you need to know for Tuesday

Shares of General Motors (GM | Quote | Chart | News | PowerRating) were higher early on Monday on the company's insistence that the only line under consideration for possible cancellation is their Hummer brand of SUVs.

Both Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) were sold aggressively on Tuesday, with Freddie Mac down more than 25% by mid-day.

A Barron's article this weekend suggested that earnings per share for egg producer Cal-Maine (CALM | Quote | Chart | News | PowerRating) may climb by 290%.

Pepsi Bottling Group (PBG | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the bell. Analysts are expecting earnings per share of $0.75.

Microsoft (MSFT | Quote | Chart | News | PowerRating) announced that it would consider reopening its bid for Yahoo! (YHOO | Quote | Chart | News | PowerRating) if the company's board were to be replaced.

EDU

New Oriental Education Tech is acting very well today so keep it on the radar going into the close.

X

United States Steel is bucking the trend so keep it on the radar going into the close.

BIDU

Baidu.com is acting well in early trading so keep it on the radar.

AAPL

Apple, Inc. has a good tone in early trading so keep it on the radar.

GS

Goldman Sachs target was raised to $240 by HSBC Securities so keep it on the radar.

STP

Suntech Power was given a new price target of $48 by Friedman Billings so keep it on the radar.

BRCM

Broadcom was upgraded by Piper Jaffray from Neutral to Buy so keep it on the radar.

SU

Suncor Energy was upgraded by 2 firms so keep it on the radar.

Pre-Market Gappers

Gapping up:

APPX +31.9%, NCOC +17.4%, CALM +8.2%, RCL +2.0%, TWX +1.3%, AMD +1.0%...

Gapping down:

RBS -7.8%, TEVA -60%, UBS -5.7%, AAUK -4.4%, DROOY -4.0%, BCS -3.9%, ING -2.8%, F -2.3%, GSK -2.1%, SHPGY -2.0%, GLD -1.5%, CCL -1.2%, BHP -1.0%, DHI -1.0%.

Break Out List Market Technical Analysis

Upgrades and Downgrades

Upgrades:

ASCA, KND, BRCM, SU, JCG, ARMH

BT, NTAP, CVG, BPOP, FBP

Downgrades:

CPN, APKT, AEM, QI, MRK, MI

AZN, ZION, PMU, ONT

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed up .92%

In Hong Kong the Hang Seng closed up 2.28%

European markets are trading higher

Treasury STRIPS (Jun , 2008)

Deutsche, UBS Fight History Forecasting Best S&P 500 Since 1982

Crude Oil is trading down and is $142.85 per barrel

Gold is trading down and is $922.70 per ounce

Saturday, July 05, 2008

VIDEO - Rectangles (bearish)

Stock Market Review

7 Stocks you need to know for Monday

General Motors (GM | Quote | Chart | News | PowerRating) announced plans to introduce a "mini-car" in an effort to attract American auto buyers who are turning away from SUVs and large size pickups.

Fortress Investment Group LLC and Centerbridge Partners announced that they were walking away from their $6.1 billion play to buy Penn National Gaming (PENN | Quote | Chart | News | PowerRating) due to financing concerns.

Freddie Mac (FRE | Quote | Chart | News | PowerRating) shares were lower by nearly 9% on Thursday as the company announced that it would be looking to raise additional capital in August.

Shares of Aetna (AET | Quote | Chart | News | PowerRating) closed lower by more than 6% on word that Goldman Sachs (GS | Quote | Chart | News | PowerRating) was downgrading the stock from "neutral" to "sell." HealthNet (HNT | Quote | Chart | News | PowerRating) was also the target of a Goldman Sachs downgrade.

Nvidia (NVDA | Quote | Chart | News | PowerRating) plunged more than 30% after reporting that growing competition and decreased demand for its chips would force a lowering of the company's second quarter forecast.

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