Tuesday, September 30, 2008
7 Stocks you need to know for Wednesday
Warning that selling in the stock was "overdone", Goldman Sachs (GS | Quote | Chart | News | PowerRating) suggested that Apple (AAPL | Quote | Chart | News | PowerRating) should reach $145 per share over the intermediate term.
Representative of the bullishness in tech stocks on Tuesday, Research in Motion (RIMM | Quote | Chart | News | PowerRating) gained more than 10%, largely retracing Monday's losses.
Gapping down more than 9 points on the open, shares of Wachovia (WB | Quote | Chart | News | PowerRating) nevertheless rallied all day on Tuesday, finishing the session up more than 90%.
Huntsman (HUN | Quote | Chart | News | PowerRating) soared by more than 70% on news that a judge had ordered Hexion Specialty Chemical Company to honor a $6.5 billion buyout agreement to purchase the chemical company.
Bank of America (BAC | Quote | Chart | News | PowerRating) was one of the few Dow stocks to have a positive September. BAC was up more than 15% on Tuesday.
Shares of Sovereign Bank (SOV | Quote | Chart | News | PowerRating) soared by more than 80% on news that the savings and loan was replacing its CEO.
Morning News
In Japan the Nikkei 225 closed down 4.1%
In Hong Kong the Hang Seng closed up 0.75%
European markets are trading higher
The Senate will try to revive Bank-Rescue plan with a vote
ICSC-UBS Store Sales (wk9/27 , 2008)
Redbook (wk9/27 , 2008)
NAPM-Chicago (Sep , 2008)
Consumer Confidence (Sep , 2008)
Crude Oil is $97.35 per barrel
Gold is $900 per ounce
Monday, September 29, 2008
7 Stocks you need to know for Tuesday
Citigroup (C | Quote | Chart | News | PowerRating) announced that it was taking over the banking business of Wachovia (WB | Quote | Chart | News | PowerRating) for $2 billion in stock.
Reporting earnings Tuesday morning before the market opens, Pepsi Bottling Group (PBG | Quote | Chart | News | PowerRating) is expected to announce EPS of 1.04.
One of the very few stocks in the S&P 500 to move higher on Monday was Campbell Soup (CPB | Quote | Chart | News | PowerRating), which still gained less than half of one percent.
Among the biggest decliners in the Dow industrials, American Express (AXP | Quote | Chart | News | PowerRating) slid by more than 12%.
Apple (AAPL | Quote | Chart | News | PowerRating) was down by more than 13% less than an hour into trading on Monday after a Morgan Stanley (MS | Quote | Chart | News | PowerRating) analyst suggested slower sales going forward. The stock finished down more than 17%.
Pre-Market Gappers
ING +3.1%...
Gapping down:
WB -49.8%, RBS -21.6%, XING -20.1%, LYG -18.9%, UBS -14.9%, BHP -8.1%, RTP -7.7%, AAPL -6.4%, NOK -6.3%, BP -5.8%, RDS.A -5.6%, TOT -5.6%, MS -5.1%, RIO -5.0%, LLY -3.9%, RIMM -3.8%, AIG -3.5%.
Upgrades and Downgrades
KeyBanc upgrades BorgWarner (BWA 32.46) to Buy from Hold and sets a $46 tgt, as they believe that robust demand for the co's products will continue to drive revenue growth and margin expansion, resulting in double-digit EPS growth... Oppenheimer upgrades National City (NCC 3.71) to Outperform from Perform and sets a $5 tgt, based on valuation and believe the bank isn't seeing a mass exodus of despositors while their loan portfolio is more diversified and better quality than WaMu's... UBS upgrades Nortel (NT 2.54) to Buy from Neutral... Wachovia upgrades Brookfield Infrastructure Partners LP (BIP 15.40) to Outperform from Market Perform... Piper Jaffray upgrades Xilinx (XLNX 23.98) to Buy from Neutral... J.P Morgan upgrades Telesp Part Adr (TSP 23.90) to Neutral from Underweight.
Downgrades:
Morgan Stanley downgrades Apple (AAPL 128.24) to Equal Weight from Overweight... RBC downgrades Apple (AAPL 128.24) to Sector Perform from Outperform. Miscellaneous: Oppenheimer initiates China Mass Media Int'l Advertising (CMM 4.92) with an Outperform and sets an $8.50 tgt, based on a proven attractive partner to China's dominant TV network, China's ad market that is large and fast growing, and expansion into commercial production that creates a potential growth opportunity.
Merriman downgrades Bankrate (RATE 39.12) to Neutral from Buy, based on concerns about display advertising trends industry-wide, the co's above-average exposure to the financial vertical, and shares that trade in-line with peers... Merriman downgrades TheStreet.com (TSCM 6.01) to Neutral from Buy, as they believe near-term expectations appear relatively safe but FY09 could be at risk... Baird downgrades Monaco Coach (MNC 2.30) to Neutral from Outperform, Thor Industries (THO 26.80) to Underperform from Neutral, and Winnebago Industries (WGO 13.85) to Underperform from Neutral, based on valuation and checks that suggest fundamentals remain dreadful, including weak demand, failing dealers/manufacturers, tighter credit, and no appetite for inventory... Credit Suisse downgrades Digital River (DRIV 36.03) to Neutral from Outperform... JP Morgan downgrades Arch Capital (ACGL 73.40) to Neutral from Overweight... Deutsche Bank downgrades DISH Network (DISH 24.55) to Hold from Buy and lowers their tgt to $31 from $51, following news that AT&T won't be renewing its five-year partnership with DISH, instead choosing to partner with DirecTV... Citigroup downgrades Starwood Hotels & Resorts (HOT 30.27), Sunstone Hotel Investors (SHO 14.04) and Host Hotels & Resorts (HST 13.95) to Hold from Buy, as they feel tighter credit could result in a more difficult economic environment for the cos than previously anticipated... Citigroup downgrades Strategic Hotels & Resorts (BEE 9.00) to Sell from Hold and lowers their tgt to $6 from $9, based on valuation, balance sheet leverage that is high, and a possible dividend reduction next year. Citigroup downgrades Sadia (SDA 9.50) to Sell from Buy.
Morning News
Futures lower on new signals the crisis is spreading more
In Japan the Nikkei closed down 1.25%
In Hong Kong the Hang Seng closed down 4.3%
European markets are down almost 3% across the board early on
Personal Income and Outlays (Aug , 2008)
Compromise vote on $700 Billion rescue plan awaits
Crude Oil is down $3.50 per barrel and is $103.50 per barrel
Gold is trading down and is $885 per ounce
Sunday, September 28, 2008
7 Stocks you need to know for Monday
Falling revenues due to the housing slump lead to a massive loss for the third quarter for K.B. Homes (KBH | Quote | Chart | News | PowerRating), which was actually up on the day on Friday.
JP Morgan Chase & Company (JPM | Quote | Chart | News | PowerRating) bought what was left of Washington Mutual (WM | Quote | Chart | News | PowerRating) late on Thursday as part of the biggest bank failure in U.S. history.
Walgreens (WAG | Quote | Chart | News | PowerRating) reports quarterly earnings Monday before the market opens. Analysts are expecting EPS of 0.45.
Citigroup (C | Quote | Chart | News | PowerRating) was up more than 4% late in trading on Friday, undeterred by the Wall Street bailout debate in Washington.
Saturday, September 27, 2008
VIDEO - Symmetrical Triangles (neutral)
Bullish Chart Patterns
VIDEO - Symmetrical Triangles
VIDEO - Ascending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
Video - Rectangles
Video - Cup n Handle
Video - Head n Shoulders
Video - Trendlines
Neutral Chart Patterns
Video - Symmetrical Triangles
Video - Rectangles
Bearish Chart Patterns
VIDEO - Symmetrical Triangles
VIDEO - Descending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
VIDEO - Rectangles
Video - Head n Shoulders
Video - Trendlines
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Friday, September 26, 2008
Pre-Market Gappers
Gapping up:
TIBX +8.5%, JPM +2.4%, SPWR +2.3%, GFI +1.6%, FSLR +1.4%...
Gapping down:
WM -79.9%, RIMM -20.9%, FNM -20.6%, NED -19.4%, NPSP -16.0%, FRE -11.3%, MS -11.0%, BCS -7.0%, ARP -6.0%, AGU -5.8%, AIG -5.3%, ABK -5.1%, BHP -4.6%, AAPL -4.5%, NNN -3.1%, WRE -1.5%, GOOG -1.5%.
Morning News
In Japan the Nikkei 225 closed down .95%
In Hong Kong the Hang Seng closed down 1.33%
European markets are trading down
JP Morgan buys out Washington Mutual
Gross Domestic Product (Q2f , 2008)
Crude Oil is $105.35 per barrel
Gold is $878.50 per ounce
Thursday, September 25, 2008
7 Stocks you need to know for Friday
Sales from the Olympics continued to support earnings at Nike Inc. (NKE | Quote | Chart | News | PowerRating), which beat analyst estimates by more than a dime this week.
Research in Motion (RIMM | Quote | Chart | News | PowerRating) reported quarterly earnings Thursday after the close that missed analyst expectations by one cent.
Among the financial stocks moving higher on Thursday were JP Morgan Chase & Company (JPM | Quote | Chart | News | PowerRating), up more than 7% on the day. Among those moving lower were Washington Mutual (WM | Quote | Chart | News | PowerRating) which continues to search for a bidder for all or part of the savings and loan. WaMu was down more than 25%.
McDonalds (MCD | Quote | Chart | News | PowerRating) announced that it was increasing its quarterly dividened by 33% to 50 cents per share.
Pilgrim's Pride Corporation (PPC | Quote | Chart | News | PowerRating) plunged by nearly 40% as the company announced that it would report significant losses for its fourth quarter.
Weakness in its financial services division led General Electric (GE | Quote | Chart | News | PowerRating) to lower its profit forecast and suspend its share buyback program.
Pre-Market Gappers
FNM +37.4% , PCOP +33.6% , FRE +27.0% , TMTA +18.5% , WM +17.3% , ABK +15.9% , NKE +4.2% , BZH +4.1% , SEPR +3.5% , SMS +2.8% , MKC +1.4% , MKC +1.4%...
Gapping down:
COF -7.6% , FIF -6.5% , GE -5.1% , RHT -3.1%.
Morning News
In Japan the Nikkei 225 closed down 0.90%
In Hong Kong the Hang Seng closed down .15%
European markets are trading higher
GE cuts earnings forecast, suspends buyback
Durable Goods Orders (Aug , 2008)
Crude Oil is $104.50 per barrel
Gold is $893.75 per ounce
Wednesday, September 24, 2008
7 Stocks you need to know for Thursday
Research in Motion (RIMM | Quote | Chart | News | PowerRating) reports quarterly earnings Thursday after the market closes. Analysts are expecting EPS of 0.87.
Standard and Poor's downgraded the credit rating of Washington Mutual (WM | Quote | Chart | News | PowerRating) again on Wednesday. The stock was down more than 20% on the day.
The biggest loser in the Dow industrials on Wednesday was American International Group (AIG | Quote | Chart | News | PowerRating), which lost more than 29%.
Goldman Sachs (GS | Quote | Chart | News | PowerRating) is getting a $5 billion investment from Warren Buffett's Berkshire Hathaway.
Reporting earnings Thursday morning after the bell, Accenture (ACN | Quote | Chart | News | PowerRating) is expected to announce earnings per share of 0.66.
Broadcom (BRCM | Quote | Chart | News | PowerRating) rallied by more than 4% after a judge's ruling that Qualcomm (QCOM | Quote | Chart | News | PowerRating) had infringed on patents owned by Broadcom.
Tuesday, September 23, 2008
7 Stocks you need to know for Wednesday
T-Mobile introduced the first mobile phone that runs on Android, software created by Google Inc. (GOOG | Quote | Chart | News | PowerRating), on Tuesday.
Down more than 7% on the day, General Motors (GM | Quote | Chart | News | PowerRating) was the biggest loser in the Dow industrials on a percentage basis.
Reporting earnings Wednesday morning after the market opens, Nike Inc. (NKE | Quote | Chart | News | PowerRating) is expected to announce quarterly earnings of 0.92.
Predictions of a slow holiday shopping season encouraged traders to sell shares of Amazon.com (AMZN | Quote | Chart | News | PowerRating), which was down more than 3% on Tuesday.
Down more than 4%, General Electric (GE | Quote | Chart | News | PowerRating) was among the companies added to the Securities and Exchange Commission's temporary short sale ban list.
Bristol-Myers Squibb (BMY | Quote | Chart | News | PowerRating) raised its offer for Imclone Systems (IMCL | Quote | Chart | News | PowerRating) to $62 per share on Tuesday.
Pre-Market Gappers
Gapping up: CC +11.8%, COMS +10.5%, IMCL +6.5%, ABX +2.3%, AEM +1.6%... Gapping down: RTP -11.9%, WM -9.6%, LYG -8.0%, HGR -6.2%, GFI -4.6%, BHP -4.5%, CEF -4.0%. |
Upgrades and Downgrades
NVS
Downgrades:
DXPE, CC, SVVS, UBSH, IBKC, FARO
STI, MTB, RDS.B, RF, ZION, SNY, FIG
HTBK, CACH, SCUR
Morning News
In Hong Kong the Hang Seng closed down 3.9%
European markets are trading down
ICSC-UBS Store Sales (wk9/20 , 2008)
Crude Oil is $107 per barrel
Gold is $900 per ounce
Monday, September 22, 2008
7 Stocks you need to know for Tuesday
Microsoft (MSFT | Quote | Chart | News | PowerRating) announced that it was both increasing its share buyback program to $40 billion as well as raising its dividend by 18%.
After petitioning the Federal Reserve, both Morgan Stanley (MS | Quote | Chart | News | PowerRating) and Goldman Sachs (GS | Quote | Chart | News | PowerRating) have been granted status as bank holding companies. The move marks the end of the independent investment bank era on Wall Street.
Indicative of the strength in gold mining stocks on Monday, Barrick Gold Corporation (ABX | Quote | Chart | News | PowerRating) ws up more than 9%.
Reporting earnings on Wednesday after the market closes, Nike Corporation (NKE | Quote | Chart | News | PowerRating) announced on Monday a plan to buy an additional $5 billion of its own stock.
Also on the share buyback bandwagon on Monday was Hewlett-Packard (HPQ | Quote | Chart | News | PowerRating), which announced a plan to increase their share buyback program by an additional $8 billion.
Homebuilder Lennar (LEN | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens. Analysts are expecting a loss of 0.52 per share.
Pre-Market Gappers
AZ +4.8%, APH +3.7%, BHP +2.3%, BP +1.7%, RDS.A +1.1%...
Gapping down:
ABK -26.9%, BCS -9.8%, UBS -8.7%, MBI -8.5%, LYG -5.0%, BAC -3.9%, MER -3.7%, MS -3.7%, JPM -2.8%, WFC -2.5%, GS -1.4%.
Upgrades and Downgrades
Merrill Lynch upgrades Logitech (LOGI 24.78) to Neutral from Underperform... RBS upgrades UBS (UBS 21.45) to Buy from Hold... Merrill Lynch upgrades Navios Maritime (NM 7.46) to Neutral from Underperform... UBS upgrades Lloyds TSB (LYG 22.52) to Neutral from Sell... Citigroup upgrades GFI Group (GFIG 6.11) to Hold from Sell... Baird upgrades Otter Tail (OTTR 30.01) to Outperform from Neutral and maintains their $41 tgt, based on valuation and expect well-above-average EPS growth to result in attactive total returns fueled by multiple major utility infrastructure projects ans significant wind tower business expansion supported by state renewable generation mandates... Wachovia upgrades Teva (TEVA 46.07) to Outperform from Market Perform... Wachovia upgrades Watson Pharma (WPI 28.29) to Outperform from Market Perform... Merrill upgrades TransCanada (TRP 35.79) to Buy from Sell.
Downgrades:
Friedman Billings downgrades Sovereign Bancorp (SOV 10.23) to Underperform from Market Perform and lowers their tgt to $6 from $9, following the co's announcement to sell all $750 mln of CDOs and believe the co is on the brink of "well capitalized"... J.P Morgan downgrades Penson Worldwide (PNSN 15.60) to Neutral from Overweight... J.P Morgan downgrades Barclays (BCS 32.50) to Underweight from Neutral... Oppenheimer downgrades Watsco (WSO 58.49) to Underperform from Perform based on valuation, and potential for negative revisions to 2009 EPS consensus, and unfavorable trends in late 3Q08... Oppenheimer downgrades Airgas (ARG 59.98) to Perform from Outperform based on valuation. Miscellaneous: Merrill restarts Garmin (GRMN 37.93) with an Underperform... J.P Morgan initiates Tyson Foods (TSN 13.13) with an Overweight... J.P Morgan initiates Pilgrim's Pride (PPC 12.50) with a Neutral... J.P Morgan initiates Sanderson Farms (SAFM 40.17) with an Underweight.
Break Out List
Epic Over $8.85
BJGP Over $7.25
AKRX Over $5.75
FLWS Over $7
CPKI Over $16
GRMN Over $40
Morning News
In Japan the Nikkei 225 closed up 1.4%
In Hong Kong the Hang Seng closed up 1.6%
European markets are flat
Goldman Sachs, Morgan Stanley become banks
Paulson widens $700 Billion Rescue beyond Mortgages
Dollar May get "Crushed" as Traders Weigh $1 Trillion Cost of bailout
Crude Oil is up $2.15 per barrel to $106.70
Gold is up $22 trading at $886.70
Sunday, September 21, 2008
7 Stocks you need to know for Monday
Financial stocks rallied by double digits on Friday, with many gapping up on the open and closing well off their highs. Merrill Lynch (MER | Quote | Chart | News | PowerRating) gained more than 30%, Morgan Stanley (MS | Quote | Chart | News | PowerRating) gained more than 20%, and JP Morgan (JPM | Quote | Chart | News | PowerRating) added more than 16%, closing at levels not reached since May.
Auto Zone (AZO | Quote | Chart | News | PowerRating) reports earnings Monday morning before the market opens. Analysts are expecting EPS of 3.90.
Oracle (ORCL | Quote | Chart | News | PowerRating) gained more than 7% on Friday after beating analyst earnings estimates by two cents.
Palm Inc. (PALM | Quote | Chart | News | PowerRating) reported its fifth consecutive quarterly loss, as competition from Research in Motion's (RIMM | Quote | Chart | News | PowerRating) Blackberry continues to outsell Palm's line of smartphones.
Saturday, September 20, 2008
The End of Capitalism as We Know it
The End of Capitalism as We Know it
http://www.leavittbrothers.com/
Friday, September 19, 2008
Pre-Market Gappers
VSE +78.1%, WM +41.8%, MS +34.8%, GS +29.6%, WB +28.3%, AIG +25.7%, MER +17.9%, C +17.1%, BAC +16.1%, ETFC +15.2%, RBS +14.3%, UBS +14.1%, AEG +10.9%, JPM +9.2%, ORCL +6.7%, HBC +2.0%...
Gapping down:
PALM -9.4%, DROOY -7.6%, IHS -6.0%, GG -3.2%.
Upgrades and Downgrades
Upgrades: Oppenheimer upgrades Cree (CREE 25.79) to Outperform from Perform and sets a $31 tgt, based on LEDs that are beginning to gain traction in general lighting applications, believe the co has positioned itself as a major enabler and beneficiary of this transformation and expect them to benefit from strong growth in Chinese LED-powered outdoor displays with its acquisition of COTCO... HSBC upgrades Goldcorp (GG 31.01) to Neutral from Underweight... Friedman Billings upgrades McAfee (MFE 35.13) to Market Perform from Underperform and maintains their $33 tgt, based on valuation and believe a combination of a strong product cycle and good sales execution has enabled MFE to maintain steady closure rates in the field on the large deal front over the last few weeks, a dynamic which bodes well for 3Q revenue/bookings... Jefferies upgrades Constellation Energy (CEG 24.20) to Hold from Underperform and raises their tgt to $25 from $20, following the co's agreement to merge with MidAmerican Energy and believe shares are fairly valued relative to the $26.50/share cash offer... Jefferies upgrades American Electric Power (AEP 35.75) to Buy from Hold and lowers their tgt to $42 from $42.50, based on valuation and believe shares are already discounting a nominal increase in generation rates in the co's Ohio subsidiaries... UBS upgrades Colfax (CFX 17.91) to Buy from Neutral... Piper Jaffray upgrades Oracle (ORCL 18.75) to Buy from Neutral. |
Downgrades: HSBC downgrades Royal Gold (RGLD 37.74) to Neutral from Overweight... Deutsche Bank downgrades Thomson Reuters (TRI 30.69) to Sell from Buy... Baird downgrades Gibraltar Industries (ROCK 22.23) to Neutral from Outperform and maintains their $22 tgt, based on valuation... Baird downgrades Host Hotels & Resorts (HST 17.00) to Neutral from Outperform and maintains their $15 tgt, based on valuation and believe earnings estimates and hotel asset values continue to have a downside bias, given the continued soft economy and greater disruption in the credit markets... Jefferies downgrades Empire District Electric (EDE 22.76) to Hold from Buy and lowers their tgt to 21.50 from $22.50, based on valuation... BofA downgrades Constellation Energy (CEG 24.20) to Neutral from Buy... UBS downgrades FreightCar America (RAIL 36.77) to Sell from Neutral... Citigroup downgrades Lear (LEA 13.15) to Sell from Hold... Citigroup downgrades Flagstone Reinsurance (FSR 11.91) to Hold from Buy... Jefferies downgrades Concur Technologies (CNQR 48.45) to Hold from Buy and maintains their $50 tgt, based on valuation and see fewer catalysts in the next 6+ months... Jefferies downgrades GSI Commerce (GSIC 17.40) to Hold from Buy and raises their tgt to $18 from $17, based on valuation... Wachovia downgrades Microsemi (MSCC 26.39) to Market Perform from Outperform... Piper Jaffray downgrades MIPS Technologies (MIPS 3.70) to Neutral from Buy... Piper Jaffray downgrades Apogee Enterprises (APOG 16.93) to Sell from Neutral. |
Thursday, September 18, 2008
Morning News
In Japan the Nikkei 225 closed up 3.75%
In Hong Kong the Hang Seng closed up 9.6%
European markets are trading much higher
Paulson, Bernanke brief lawmakers on broad program to stem credit crunch.
The SEC has temporarily banned short-selling in the shares of 799 financial companies
Today is options expiration
Crude Oil is $99.25 per barrel
Gold is $842 per ounce
7 Stocks you need to know for Friday
The rally in financial stocks led to a more than 10% gain in Wells Fargo (WFC | Quote | Chart | News | PowerRating), which reached all time highs on Thursday.
And the increased likelihood of a suitor had shares of Washington Mutual (WM | Quote | Chart | News | PowerRating) bouncing by more than 48%.
With no resolution to a labor stoppage in sight, Boeing (BA | Quote | Chart | News | PowerRating) fought off intraday selling to close up by nearly 2%.
The potential of a distribution alliance with Coca Cola (KO | Quote | Chart | News | PowerRating) encouraged traders to bid share of Hansen Natural Corporation (HANS | Quote | Chart | News | PowerRating) higher by more than 17% on Thursday.
Gapping down at the open and plunging intraday, Goldman Sachs (GS | Quote | Chart | News | PowerRating) managed to close down just under 6%.
Up more than 3% on Thursday, Kraft (KFT | Quote | Chart | News | PowerRating) will replace American International Group in the Dow Jones Industrial Average.
Wednesday, September 17, 2008
Pre-Market Gappers
UBS +22.1%, AIG +19.5%, LYG +12.8%, GFI +12.4%, WM +11.9%, RBS +9.9%, DB +9.3%, BCS +7.7%, SLV +7.1%, WB +6.9%, AAUK +6.5%, CUK +5.3%, ING +5.3%, CEG +5.0%, MT +4.4%, C +4.1%, MS +1.1%...
Gapping down:
VRTX -5.9%.
Morning News
In Japan the Nikkei 225 closed down 2.25%
In Hong Kong the Hang Seng closed flat
Central Banks will pump $247 billion into global markets
Jobless Claims (wk9/13 , 2008)
Crude Oil is $99.50 per barrel
Gold is $884 per ounce
7 Stocks you need to know for Thursday
Washington Mutual (WM | Quote | Chart | News | PowerRating) is now officially on sale, with potential acquirers including JP Morgan Chase (JPM | Quote | Chart | News | PowerRating).
SanDisk (SNDK | Quote | Chart | News | PowerRating) is the target of an unsolicited takeover bid from Samsung Electronics. Samsung has offered $5.85 bn for the company.
Among the best performing stocks were those related to gold and mining. Barrick Gold Corporation (ABX | Quote | Chart | News | PowerRating) was up nearly 13% on the day. Newmont Mining Corporation (NEM | Quote | Chart | News | PowerRating) gained more than 9%
Reporting earnings Thursday morning before the market opens, FedEx (FDX | Quote | Chart | News | PowerRating) is expected to announce earnings per share of $1.21.
Shares of Morgan Stanley (MS | Quote | Chart | News | PowerRating) fell more than 27% on Wednesday despite beating analyst estimates by more than 50 cents after the close on Tuesday.
MA
V
Pre-Market Gappers
| Gapping up:
Gapping down: AIG -25.3%, VSE -16.7%, POL -9.1%, COIN -6.4%, MT -3.8%, UAUA -3.6%, BBL -3.6%, NOK -3.1%, GILD -2.7%, HBC -1.9%, BHP -1.8%, RDS.A -1.6%. |
Upgrades and Downgrades
NDAQ, ITG, GFIG, ALKS, PRGO
HOKU, ACLS, GS, KR, ESLR, MON
Downgrades:
CME, PAG, BGFV, QSII, NARA
Morning News
In Japan the Nikkei 225 closed up 1.15%
In Hong Kong the Hang Seng closed down 3.65%
European markets are trading higher
MBA Purchase Applications (wk9/12 , 2008)
Current Account (Q2 , 2008)
EIA Petroleum Status Report (wk9/12 , 2008)
Crude Oil is $95 per barrel
Gold is $785 per ounce
Tuesday, September 16, 2008
AIG Gets Up to $85 Billion Fed Loan
The Federal Reserve ``determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility and lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance,'' the Fed said.
The agreement, supported by the Treasury Department, will keep New York-based AIG in business, averting a failure that could have threatened more financial companies and added to chaos in world markets. Losses industrywide could have totaled $180 billion if AIG collapsed, according to RBC Capital Markets. AIG needed the loan after its credit ratings were cut and shares plunged 79 percent since Sept. 11.
The two-year loan will ``assist AIG in meeting its obligations as they come due,'' the Fed said in its statement. The federal lifeline will allow AIG to sell assets in an orderly fashion rather than at distressed prices, said a person familiar with the agreement.
``The loan is expected to be repaid from the proceeds of the sale of the firm's assets,'' the Fed said. The U.S. government has the right to veto the payment of dividends to common and preferred shareholders.
AIG will replace management as part of the deal, said the person, who declined to be named because not all parts of the agreement were publicly disclosed.
Interest will accrue on the outstanding balance at the three-month London interbank offered rate plus 8.5 percentage points.
7 Stocks you need to know for Wednesday
Falling crude oil prices continue to be a boon for airlines stocks with Delta Airlines (DAL | Quote | Chart | News | PowerRating) up more than 23% and Continental Airlines (CAL | Quote | Chart | News | PowerRating) gaining nearly 13%.
Morgan Stanley (MS | Quote | Chart | News | PowerRating) reported quarterly earnings after the market closed on Tuesday, beating analyst's estimates by a wide mark.of more than 50 cents.
Warning of weakness in global demand, Dell Inc. (DELL | Quote | Chart | News | PowerRating) shares were lower by more than 11% on the day.
In a potential change of heart, the Federal Reserve has said that it is open to a loan package to help struggling insurer, American International Group (AIG | Quote | Chart | News | PowerRating).
Shares of Hewlett-Packard (HPQ | Quote | Chart | News | PowerRating) soared by more than 6% on Tuesday as traders applauded the company's cost cutting plans - including the elimination of thousands of jobs.
Third quarter profits for Goldman Sachs (GS | Quote | Chart | News | PowerRating) fell by more than 70% the company reported on Tuesday.
VIDEO - Bottoming Indicators
VIDEO - Bottoming Indicators
http://www.leavittbrothers.com/
LEH
Pre-Market Gappers
LEH +33.3%, MNKD +7.4%, PLL +3.2%, WFC +3.2%, DSCP +3.2%, HRS +2.9%, SJM +2.1%, ASML +2.1%, PLXS +1.6%, GS +1.5%...
Gapping down:
TRGT -40.9%, AIG -40.1%, RBCN -17.7%, RBS -12.0%, WM -10.0%, LWSN -8.9%, UBS -6.9%, NCC -6.5%, SPNC -6.1%, SNV -4.5%, RDS.A -3.3%, NOK -2.6%, GOLD -2.6%, INTC -2.4%, RTP -1.9%.
Upgrades and Downgrades
FCEA, LPL, CB, TRV, SAP,
AUO, ENDP
Downgrades:
OYOG, NBR, SIRF, ISIL, BRCM,
MTN, MU, LRCX, VSEA, MAS, MTH
Morning News
In Japan the Nikkei 225 closed down 5%
In Hong Kong the Hang Seng closed down 5.45%
European markets are trading down 2-3%
ICSC-UBS Store Sales (wk9/13 , 2008)
Consumer Price Index (Aug , 2008)
Redbook (wk9/13 , 2008)
Treasury International Capital (Jul , 2008)
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Gold is $783 per ounce
Monday, September 15, 2008
7 Stocks you need to know for Tuesday
Bank of America (BAC | Quote | Chart | News | PowerRating) walked away from talks with Lehman Brothers (LEH | Quote | Chart | News | PowerRating) and instead chose to acquire Merrill Lynch (MER | Quote | Chart | News | PowerRating) in a deal worth $50 billion.
Adobe Systems (ADBE | Quote | Chart | News | PowerRating) is expected to announce quarterly earnings per share of $0.46 when the company reports Tuesday after the close.
Among the few stocks moving higher on Monday were airline stocks including UAL Corporation (UAUA | Quote | Chart | News | PowerRating) which gained more than 8% on Monday.
Goldman Sachs (GS | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens. Analysts are expecting EPS of $1.73.
American International Group (AIG | Quote | Chart | News | PowerRating) fell more than 60% on Monday as a sell-off in financial stocks overwhelmed the markets.
Pre-Market Gappers
MER +35.5%, PSS +5.6%, LDG +3.9%, PKG +3.7%, AMLN +3.2%, GLD +1.2%...
Gapping down:
LEH -88.2%, AIG -42.3%, WM -32.6%, ABK -31.4%, WB -22.3%, RBS -17.8%, BCS -17.5%, UBS -15.4%, BAC -14.0%, PMI -12.9%, C -12.6%, AXA -11.9%, MS -11.4%, GS -9.3%, JPM -8.5%, WFC -5.7%.
Upgrades and Downgrades
UBS upgrades Allegiant Travel (ALGT 30.89) to Buy from Neutral... UBS upgrades AirTran (AAI 2.69) to Buy from Neutral... Morgan Stanley upgrades Telecom Italia (TI 15.85) to Overweight from Underweight... UBS upgrades Delta Air Lines (DAL 8.13), Continental Airlines (CAL 18.95), Northwest Airlines (NWA 9.85) and UAL (UAUA 11.36) to Buy from Neutral... UBS upgrades JetBlue (JBLU 6.00) to Neutral from Sell.
Downgrades:
Jefferies downgrades T.Rowe Price (TROW 57.44) to Hold from Buy and lowers their tgt to $60 from $63 based on valuation. The firm says while they view TROW as the premium franchise within asset management, slowing internal growth should limit multiple expansion and earnings upside in the near-term... Piper Jaffray downgrades Zumiez (ZUMZ 17.62) Neutral from Buy... Jefferies downgrades Citrix (CTXS 29.01) to Underperform from Hold and lowers their tgt to $25 from $32 says they do not see a meaningful new product, prodcut cycle, or potential for the typical Q4 upside from EMEA that can help CTXS grow into 2009 street ests... Jefferies downgrades Cytec (CYT 47.79) to Hold from Buy and cuts their tgt to $52 from $60 saying near term upside could be limited by concerns on European demand. Miscellaneous: Standpoint Research initiates Freeport McMoRan Copper & Gold (FCX 73.88) with a Buy and sets a 3-yr tgt of $110-$120... Morgan Stanley initiates Wuxi Pharma (WX 16.20) with an Overweight...