Monday, March 31, 2008
7 Stocks you need to know for Tuesday
Merck (MRK | news | PowerRating | PR Charts ) lost 14.7% and Schering-Plough (SGP | news | PowerRating | PR Charts ) plunged 26% after a panel of experts urged doctors to cut prescriptions of Vytorin and Zetia, their jointly marketed cholesterol drugs.
Cal-Maine Foods (CALM | news | PowerRating | PR Charts ) dropped 11.8%, despite reporting earnings that more than tripled from a year ago.
Western Union (WU | news | PowerRating | PR Charts ) partnered with Radio Shack (RSH | news | PowerRating | PR Charts ) to allow users to transfer money through their cell phones.
SanDisk (SNDK | news | PowerRating | PR Charts ) rose 6.6% after a strong showing by memory chip makers in Asia overnight.
CALM
Pre-Market Gappers
ANST +32.37%, BSX +15.0%, CALM +8.4%, IACI +6.9%, MXWL +5.1%, SOL +4.2%, EPD +2.8%, UBS +2.3%, AMAG +2.1%, TXT +2.0%, MEDX +1.3%...
Gapping down:
MO -69.5% (following spin-off of Philip Morris International), HRT -40.9%, SGP -19.1%, TMA -18.2%, MRK -5.6%, PLL -4.6%, VOD -3.7%, MF -2.6%, CCU -2.4%, RZ -1.8%.
Upgrades and Downgrades
WTSLA, MEI, VC, TEN, SUP, MOD, MGA, CVGI, BWA, ARM, ACW, and OPLK
Downgraded this morning include:
SGP, GU, TOC, OMTR, TIBX, and HTZ
Budd Foxx
Morning News
European markets are trading lower so far today.
In Tokyo the Nikkei 225 did close lower.
Crude oil is $105.00 per barrel.
Wholesale gasoline is $2.71 per gallon.
Natural gas is $9.86 per unit.
Gold is sitting at $934.00 per ounce.
Chicago Area Manufacturing Poll will be released today.
Agricultural Dept. will release land use for certain crops by farmers today.
Henry Paulson to speak on plan to regulate financial markets today.
Friday's action saw the Dow give back 86 points, the Nasdaq lost 19 points, and the S&P closed 10 points lower.
Housing and Urban Development Secretary reportedly will resign.
All four number one seeds advance to the Final Four in men's college basketball.
Budd Foxx
Sunday, March 30, 2008
Saturday, March 29, 2008
VIDEO - A State of Flux
VIDEO - A State of Flux
Last week, I backed up and looked at some longer term charts and indicators to remind ourselves what the overall trend is and also to see what may lie ahead in the next week or so.
VIDEO - The Big Picture
http://www.leavittbrothers.com/
7 Stocks you need to know for Monday
J.C. Penney (JCP | news | PowerRating | PR Charts ) lowered its first quarter sales and earnings outlook, citing weakness in consumer spending. JCP shares lost 7.5% and weighed on other consumer stocks.
KB Home (KBH | news | PowerRating | PR Charts ) lost 4.9% after the company reported earnings that missed estimates by a wide margin.
Electronic Arts (ERTS | news | PowerRating | PR Charts ) extended the deadline on its $2 billion offer for Take-Two Interactive Software (TTWO | news | PowerRating | PR Charts ).
Altria (MO | news | PowerRating | PR Charts ) is spinning-off Philip Morris International. Altria shareholders will receive one share of Philip Morris International for each Altria share they own. The new company will replace Allegheny Technologies (ATI | news | PowerRating | PR Charts ) in the S&P 100 and Circuit City Stores (CC | news | PowerRating | PR Charts ) in the S&P 500.
Before the market open on Monday, Shaw Group (SGR | news | PowerRating | PR Charts ) is scheduled to report earnings, with analysts looking for $0.54 per share.
Friday, March 28, 2008
BIDU
Pre-Market Gappers
BMTI +27.7%, CRTX +21.0%, LMRA +15.5%, KOPN +9.1%, CRUS +7.4%, RHT +6.5%, XRTX +6.5%, LEH +6.4%, AAUK +5.9%, YZC +5.6%, FINL +4.6%, ACN +4.4%, CCIX +4.2%, TIBX +4.2%, RTP +4.1%, LMC +3.4%, GOLD +3.3%, MT +3.2%, BHP +2.8%, QCOM +2.3%, MOS +2.2%, UBS +2.2%, NOK +1.9%, X +1.7%, ISIL +1.6%, C +1.4%, URBN +1.4%, AKS +1.2%...
Gapping down:
USNA -30.6%, APOL -16.7%, OPLK -15.4%, SOL -7.0%, MPG -6.1%, RMBS -4.8%, BSC -4.7%, SCS -3.4%, TNDM -2.5%, GRMN -1.6%.
Upgrades and Downgrades
DVA, HNZ, MUR and LEH
Downgrades:
EGT, HOT, LHO, AIV, HME, OPLK, USNA
DROOY, BBBY, MTH, TLAB, DSW, ATV, WLP
Thursday, March 27, 2008
7 Stocks you need to know for Friday
Oracle (ORCL | news | PowerRating | PR Charts ) lost 7.2%, despite reporting better than expected earnings, as investors fretted over the company's sales outlook.
ComScore reported the number of clicks on Google's (GOOG | news | PowerRating | PR Charts ) ads fell 3% in February.
ConAgra Foods (CAG | news | PowerRating | PR Charts ) reported earnings that beat estimates by $0.22 per share and announced the sale of its trading unit for $2.13 billion.
American Express (AXP | news | PowerRating | PR Charts ) agreed to acquire General Electric's corporate payments division for $1.1 billion.
After the close, Accenture (ACN | news | PowerRating | PR Charts ) reported Q2 earnings that beat estimates by $0.08 and issued upside guidance for Q3.
Global Payments (GPN | news | PowerRating | PR Charts ) also beat estimates and raised full-year guidance above consensus.
Before the market open, KB Home (KBH | news | PowerRating | PR Charts ) is expected to report a loss of -$1.17 per share.
RIG
Solar Stocks to Watch
SOLF
Pre-Market Gappers
CTRN +13.4%, MF +10.0%, CAG +9.6%, ASTI +6.4%, CCU +5.8%, LMC +4.8%, RMBS +4.4%, MU +2.7%, BHP +2.6%, UBS +2.6%, RTP +2.5%, SSL +2.5%, VLO +2.1%, HBC +1.7%...
Gapping down:
ORCL -8.8%, RBN -5.4%, SAP -3.3%, GOOG -2.9%, XL -2.9%, FMD -2.7%, PAYX -2.6%, JNPR -2.4%, NS -1.8%, CHK -1.8%, IBM -1.6%, MER -1.6%, AMR -1.0%.
Upgrades and Downgrades
KLAC, COMS, TER, FORM, ASML, NBR, PTEN, SWSI, BJS, UDRL, HAL, SRE, HIG, ALL, COT, SPR, and VLO
Downgraded this morning include:
CPKI, MOT, and STX
Budd Foxx
Morning News
European markets are trading higher today.
In Tokyo the Nikkei 225 did lose ground.
Crude oil is back up to just above $107.00 per barrel.
Wholesale gasoline is $2.73 per gallon.
Natural gas is currently $9.55 per unit.
Gold is sitting at $948 per ounce.
Weekly jobless claims will be released before the open this morning.
Final reading on GDP also to be released.
Energy Dept. will release natural gas inventories at 10:30 this morning.
Yesterday's action had the Dow give back 109 points, the Nasdaq lost 16 points, and the S&P closed 11 points lower.
Rambus Inc. wins memory chip patent case.
Oracle Corp. quarterly profit up 30%, but reported a weaker than expected rise in revenue.
A judge in Texas has ordered banks to fund Clear Channel deal.
Terrorist have attacked a major oil pipeline in southern Iraq.
Budd Foxx
Wednesday, March 26, 2008
7 Stocks you need to know for Thursday
Ford (F | news | PowerRating | PR Charts ) agreed to sell its Jaguar and Land Rover luxury brands to Tata Motors (TTM | news | PowerRating | PR Charts ) for $2.3 billion in cash.
Shares of Jabil Circuit (JBL | news | PowerRating | PR Charts ) fell sharply after the company lowered third quarter guidance.
Deutsche Bank (DB | news | PowerRating | PR Charts ) also issued a gloomy outlook, saying full year 2008 profit may fall short of projections due to the credit crisis.
After the market close, Oracle (ORCL | news | PowerRating | PR Charts ) reported earnings of $0.30, in-line with estimates. However, sales growth disappointed and ORCL shares moved lower in after market.
And, Paychex (PAYX | news | PowerRating | PR Charts ) reported earnings that were in-line.
Before the market open on Thursday, ConAgra Foods (CAG | news | PowerRating | PR Charts ) is scheduled to report earnings, with analysts looking for $0.39 per share.
CLF
CREE
GOOG and BIDU
Budd Foxx
FCX
Budd Foxx
Equity Futures
Dow futures -56 pts, SPX futures -6 pts, Nas -7.
Pre-Market Gappers
CLWR +26.8%, MOT +12.5%, S +9.0%, GOLD +4.6%, HMY +3.8%, ARTC +3.7%, AAUK +3.5%, RIO +3.0%, PAL +3.0%, MT +2.9%, VVTV +2.5%, LMC +2.2%, RTP +2.0%, AKNS +1.7%, TXT +1.6%, ABX +1.0%...
Gapping down:
CCU -23.2%, JBL -11.2%, CHIC -11.1%, SAI -3.7%, SEED -3.2%, CORS -2.9%, CSIQ -2.6%, C -2.4%, RBS -2.2%, PFCB -2.2%, MER -1.8%, CIT -1.7%, HBC -1.2%, UBS -1.1%, BAC -1.0%.
Upgrades and Downgrades
TI, ECA, APA, XTO, WAT, CCO, WW, TLM, and CU
Downgraded this morning include:
BAM, CTB, PFCB, HCBK, AF, AYR, GLS, and JBL
Budd Foxx
Morning News
European markets are trading lower today.
In Tokyo the Nikkei 225 did close just a bit lower.
Crude oil is $102.50 per barrel.
Wholesale gasoline is $2.69 per gallon.
Natural gas is $9.47 per unit.
Gold back up to $947.00 per ounce.
New home sales data for the month of February will be released this morning.
Durable goods orders set to be released before the open this morning.
Yesterday's action saw the Dow close 16 points lower, the Nasdaq added 14 points, and the S&P finished 3 points higher.
Deal for private equity groups to buy Clear Channel reportedly falling apart.
Deutsch Bank reportedly may not reach its profit goal.
Ford expected to announce sale of Jaguar and Land Rover to Tata Motors.
Motorola reportedly set to split into two indipendent companies.
Budd Foxx
Tuesday, March 25, 2008
7 Stocks you need to know for Wednesday
Fortress Investment Group (FIG | news | PowerRating | PR Charts ) reported a loss for the fourth quarter, missing estimates by a wide margin.
Shares of Penn National Gaming (PENN | news | PowerRating | PR Charts ) rose after Fortress Investment Group said it still plans to buyout the casino operator.
Monsanto (MON | news | PowerRating | PR Charts ) jumped 9.9% after the company raised its 2008 full-year earnings guidance.
MGIC Investment (MTG | news | PowerRating | PR Charts ) fell 7.9% after the mortgage insurer needed to raise $745 million via a stock and debt sale. The company reported a record loss in Q4.
The Wall Street Journal reported the $19 billion deal to take Clear Channel (CCU | news | PowerRating | PR Charts ) private was near collapse, due to the credit crisis.
Yahoo! (YHOO | news | PowerRating | PR Charts ) rose after Citigroup issued a "buy" note in expectation of a higher bid from Microsoft.
After the close, Jabil Circuit (JBL | news | PowerRating | PR Charts ) beat estimates by $0.02 but lowered guidance for the third quarter.
Pre-Market Gappers
HOKU +7.6%, GOLD +6.8%, COMS +6.5%, SLV +4.1%, TMA +4.0%, BCS +3.9%, YHOO +3.2%, KGC +3.0%, XMSR +3.0%, CHK +2.6%, AAUK +2.5%, GLD +2.4%, SSRI +2.1%, AKS +1.6%, AU +1.2%, NEM +1.0%...
Gapping down:
ABPI -69.9%, NPLA -26.3%, MTG -9.8%, FRPT -8.9%, PVH -4.4%, SONC -3.8%, TSO -2.9%, SUN -2.3%, VLO -2.1%, BAC -2.0%, GPS -1.6%, WNR -1.5%.
Upgrades and Downgrades
CSIQ, CI, WBD, THQI, and YHOO
Downgraded this morning include:
COF, UNH, CHRW, AFSI, PZN, PHG, CS, LCAPA, GPS, BSC, ABPI, ZUMZ, and TIF
Budd Foxx
Morning News
European markets are trading higher today.
In Tokyo the Nikkei 225 did close higher.
Crude oil is $100.33 per barrel.
Wholesale gasoline is $2.64 per gallon.
Natural gas is sitting at $9.34 per unit.
Gold is currently $932.00 per ounce.
Latest reading on consumer confidence will be released today.
Home Price Index for the month of January will be released today.
Yesterday's action saw the Dow add 187 points, the Nasdaq finished 68 points higher, and the S&P closed 20 points higher.
Justice Dept. has given the green light to Sirius Satellite Radio to purchase XM Satellite Radio.
Carl Icahn reportedly suing Motorola in order to gain access to business documents.
Valero Energy has cut it's outlook.
Google unveils White Space plans.
Budd Foxx
Monday, March 24, 2008
7 Stocks you need to know for Tuesday
JPMorgan Chase (JPM | news | PowerRating | PR Charts ) increased its offer for Bear Stearns (BSC | news | PowerRating | PR Charts ) to $10 a share, from $2 a share, and agreed to buy 39.5% of the company without a shareholder vote.
Sirius Satellite Radio (SIRI | news | PowerRating | PR Charts ) won U.S. anti-trust approval from the the Justice Department to complete its acquisition of XM Satellite Radio (XMSR | news | PowerRating | PR Charts ).
Sherwin-Williams (SHW | news | PowerRating | PR Charts ) lowered first quarter guidance to $0.56 to $0.61 per share, versus estimates of $0.77.
Shares of Tiffany & Co. (TIF | news | PowerRating | PR Charts ) jumped after the company reported earnings that beat estimates by $0.06.
Before the market open on Tuesday, Fortress Investment Group (FIG | news | PowerRating | PR Charts ) is scheduled to report earnings, with analysts looking for $0.18 per share.
MA
Pre-Market Gappers
BSC +51.0%, TIF +11.4%, MTEX +11.3%, TRE +9.3%, IBN +8.8%, ORCL +4.6%, CIT +4.5%, HCP +4.0%, POT +3.3%, MON +3.3%, MOS +2.5%, BIDU +1.5%...
Gapping down: TMA -7.1%, MEG -4.8%, PALM -4.7%, SMOD -3.3%, LEH -2.8%, CFSG -1.9%, JPM -1.3%.
Upgrades and Downgrades
NCC, POT, GW, PMCS, MSCC, ISIL, FCS, ADI, FPL, XRTX, HA, CI, MON, CAM, CRESY, PSS, AUXL, and UFS
Downgraded this morning include:
X, CEL, WGO, CIT, SMA, GPS, SIGI, AUXL, and WFC
Budd Foxx
Morning News
European markets are trading lower today.
In Tokyo the Nikkei 225 did end just a bit lower.
Crude oil is $100.90 per barrel.
Wholesale gasoline is $2.60 per gallon.
Natural gas is $9.00 per unit.
Gold all the way back to $919.00 per ounce.
February existing home sales numbers will be out at 10:00 this morning.
Thursday's action saw the Dow add 261 points, the Nasdaq finished 48 points higher, and the Nasdaq closed 31 points higher.
The Lundberg Survey of gas stations around the country show on average we are paying 7 cents a gallon more than we did two weeks ago.
J.P. Morgan reportedly will now offer Bear Stearns $10.00 per share. Original offer was $2.00 per share.
Death toll in Iraq for U.S.Military has now reached 4,000.
Budd Foxx
Saturday, March 22, 2008
VIDEO - The Big Picture
VIDEO - The Big Picture
http://www.leavittbrothers.com/
Friday, March 21, 2008
7 Stocks you need to know for Monday
Nike (NKE | news | PowerRating | PR Charts ) jumped 8.4% after beating earnings estimates.
Carnival Corp. (CCL | news | PowerRating | PR Charts ) also gained 8.4% after reporting earnings above expectations.
Shares of CIT Group (CIT | news | PowerRating | PR Charts ) plunged as much as 42%, before closing down 17%, after Fitch Ratings said the company may need to use a $7.3 billion backup credit line.
Bain Capital and its Chinese partner dropped their $2.2 billion bid for 3Com (COMS | news | PowerRating | PR Charts ) after failing to reach an agreement that would satisfy the U.S. government's national security concerns.
After the close, Palm (PALM | news | PowerRating | PR Charts ) missed estimates by -$0.02, reporting a loss of -$0.16 per share.
Before the market open on Monday, Walgreen (WAG | news | PowerRating | PR Charts ) is expected to report earnings of $0.67.
Thursday, March 20, 2008
PLCE
Budd Foxx
Pre-Market Gappers
XTLB +17.2%, BSC +5.3%, SSRX +4.9%, IHS +4.4%, HOKU +4.1%, NKE +4.0%, MLHR +3.9%, FNM +3.4%, FRE +3.3%, UN +2.6%, GE +2.0%, ING +1.7%, ATHR +1.7%, OSG +1.3%...
Gapping down:
QUIX -13.3%, HMY -6.4%, CS -6.1%, SLV -5.0%, CCU -4.9%, BGP -4.1%, G -3.7%, GFI -3.2%, BHP -3.1%, SNDK -2.7%, FDX -2.6%, ABX -2.4%, GLD -2.4%, RTP -2.0%, SLW -1.3%, MMM -1.2%.
Upgrades and Downgrades
GLBL, TTEC, MITI, NFLX, ZMH, FNM, and FRE
Downgraded this morning include:
BLOG, AGO, CSUN, TWER, LCC, AAI, PNRA, FHN, SNDK, AMR, DAL, CAL, LCC, NWA, UAUA, AMGN, and IBN
Budd Foxx
Morning News
European markets are trading just a bit lower so far today.
Many Asian markets were closed.
Crude oil has pulled back to just above $100.00 per barrel.
Wholesale gasoline is $2.53 per gallon.
Natural gas has dipped to below $9.00 per unit.
Gold really making a move to the downside current price is $920.00 per ounce.
Weekly jobless claims will be out this morning.
Leading indicators for the month of February will be released.
Philly Fed Index for March also to be released.
The Energy Dept. will release natural gas inventories this morning.
Yesterday's action saw the Dow take a beating to the tune of 293 points, the Nasdaq gave back 58 points, and the S&P lost 32 points.
Nike out with better than expected quarterly results.
FedEx will be releasing quarterly results.
Pepsi reportedly will buy russian juice company for $1.4 billion.
Budd Foxx
Wednesday, March 19, 2008
7 Stocks you need to know for Thursday
Morgan Stanley (MS | news | PowerRating | PR Charts ) reported a 42% decline in first quarter profit, but beat estimates by $0.42. MS shares rose 1.4%.
Shares of Adobe Systems (ADBE | news | PowerRating | PR Charts ) jumped 9% after reporting earnings of $0.48, beating estimates by $0.03.
On its market debut, shares of Visa (V | news | PowerRating | PR Charts ) surged 28.4% on the NYSE. Visa's IPO was the largest in U.S. history.
Merrill Lynch (MER | news | PowerRating | PR Charts ) filed a lawsuit against XL Capital Assurance in an attempt to force the bond insurer to honor $3.1 billion of guarantees on CDOs.
After the close, Nike (NKE | news | PowerRating | PR Charts ) reported third quarter earnings of $0.92, beating estimates by $0.11.
Before the market open, Carnival (CCL | news | PowerRating | PR Charts ) is expected to report earnings of $0.29 per share.
Also before the open, FedEx (FDX | news | PowerRating | PR Charts ) is scheduled to report, with analysts looking for $1.22.
ADBE
Budd Foxx
MS
Pre-Market Gappers
FMCN +12.3%, PRXI +11.1%, ADBE +6.1%, AIR +5.3%, MS +3.8%, BSC +3.2%, GFI +2.8%, CAH +2.5%, MA +1.9%, GOLD +1.8%, OI +1.7%, AUY +1.3%, GLD +1.2%, ACIW +1.1%...
Gapping down:
SINT -18.4%, ERIC -11.2%, DT -10.1%, NOK -7.8%, PEIX -7.3%, MNST -6.7%, JRCC -5.9%, MTG -5.4%, HWAY -4.5%, SI -3.6%, CCL -3.6%, FTE -3.3%, BCS -3.3%, VOD -3.2%, LEH -3.1%, RTP -3.1%, GIS -2.7%, BHP -2.3%, PCLN -2.2%, C -2.0%, BPL -1.1%.
Upgrades and Downgrades
MBWM, GTY, IMCL, BBG, SGEN, NCC, BG, MEE, ICO, SAFM, TSN, AZN, CFC, BWP, and HLCS
Downgraded this morning include:
HD, MNST, RADN, PCLN, LAMR, INAP, SLE, and KFT
Budd Foxx
Morning News
European markets are trading lower today.
In Tokyo the Nikkei 225 did close higher.
Crude oil is $108.00 per barrel.
Wholesale gasoline is $2.61 per gallon.
Natural gas is sitting at $9.32 per unit.
Gold has pulled back to $990.00 per punce.
Energy Dept. will release weekly oil inventory levels at 10:30 this morning.
Yesterday's action saw the Dow gain 420 points, the Nasdaq added 91 points, and the S&P closed 54 points higher.
Federal Reserve has cut key interest rate by 3/4 of a point.
Visa comes in with largest initial public offering in U.S. history.
Morgan Stanley out with what looks like better than expected quarterly results.
Delta reportedly to cut 2,000 jobs, and reduce flights.
Mortgage applications down to levels last seen in December.
Budd Foxx
Tuesday, March 18, 2008
7 Stocks you need to know for Wednesday
Goldman Sachs (GS | news | PowerRating | PR Charts ) reported a 53% decline in net profit, after writedowns and lower fixed income revenues. However, first quarter earnings of $3.23 per share beat estimates by $0.65.
Lehman Brothers (LEH | news | PowerRating | PR Charts ) reported first quarter earnings of $0.81, a 57% drop, but still beat estimates by $0.09. After the sudden collapse of Bear Stearns, speculation that LEH could be next to fall has been rampant, but today's numbers eased concern and led to a huge rally.
Bloomberg reported a Wachovia analysts' note to investors that stated Merrill Lynch (MER | news | PowerRating | PR Charts ) "is the riskiest" of the remaining U.S. investment banks.
Yahoo! (YHOO | news | PowerRating | PR Charts ) laid out its vision for the future, stating that it expects revenue to double over the next three years. The company also reaffirmed its Q1 and FY08 outlook.
After the close, Adobe Systems (ADBE | news | PowerRating | PR Charts ) reported earnings of $0.48, beating estimates by $0.03.
Visa (V | news | PowerRating | PR Charts ) is set to make its debut as a publicly traded company tomorrow. The $17 billion IPO will be the biggest stock sale in U.S. history, second only to the $22 billion offering of Industrial & Commercial Bank of China.
Morgan Stanley (MS | news | PowerRating | PR Charts ) is scheduled to report before the market open on Wednesday, with analysts looking for $1.03 per share.
LEH
Pre-Market Gappers
TMA +21.3%, FCSX +16.6%, MF +15.2%, LEH +13.4%, UBS +11.9%, NCC +7.7%, BSC +7.5%, CS +7.3%, VIP +7.2%, SHPGY +6.4%, CFC +6.4%, OMNI +6.1%, FNM +6.0%, FCSX +5.9%, EXM +5.6%, TMTA +5.1%, HBC +5.1%, GS +4.6%, FRE +4.4%, NYX +4.1%, C +3.9%, NPSP +3.9%, HYTM +3.9%, MER +3.3%, ESC +3.2%, JPM +3.0%, KEX +2.2%, ULTR +1.8%, VLO +1.5%...
Gapping down:
NUVO -47.1%, DVAX -45.4%, IVAN -11.2%, CEO -5.3%, NWA -4.7%, CIT -4.6%, SHFL -4.3%, HMY -2.0%, AU -1.5%.
GS
Upgrades and Downgrades
NCC, EW, VIMC, VIP, RMG, SAP, TK, GMR, ALXA, GS, and OSG
Downgraded this morning include:
VNO, SLG, TU, NRF, NCT, SPPI, IP, DEIX, URI, CKH, ARII, DVAX, and VPFG
Budd Foxx
Morning News
European markets are trading higher today.
In Tokyo the Nikkei 225 did end higher.
Crude oil is $107.25 per barrel.
Wholesale gasoline is $2.53 per gallon.
Natural gas is currently $9.21 per unit.
Gold is sitting at $1008.00 per ounce.
Data on February wholesale prices will be out at 8:30 this morning.
Housing starts and building permit figures will be released before the open this morning.
Federal Reserve expected to announce interest rate cut at 2:15 this afternoon.
Yesterday's action saw the Dow come back and close 21 points higher, the Nasdaq lost 35 points, and the S&P gave back 11 points.
Henry Paulson will be speaking this morning.
A report is out stating that about 50% of Bear Stearns employees could lose jobs through the deal with J.P. Morgan.
Budd Foxx
Monday, March 17, 2008
Market turmoil will not stop Visa IPO: analysts
"I do hear that the deal is on and is expected to be strong," said Sal Morreale, who tracks IPOs for Cantor Fitzgerald in Los Angeles.
Visa has filed to sell 406 million Class A common shares at $37 to $42 apiece, for proceeds of $15 billion to $17 billion.
If demand is strong, an additional 40 million shares could sell, pushing proceeds as high as $19 billion. Even at the low end of expectations, the IPO would set a record in the United States, beating out AT&T's $10.6 billion deal in 2000.
Morreale said underwriters, led by JPMorgan (JPM.N) and Goldman Sachs & Co (GS.N), were under pressure to pull off the deal, or risk spooking investors who are already on pins and needles after Bear Stearns Cos (BSC.N) on Sunday averted a near-collapse by agreeing to be sold for a fire-sale price.
7 Stocks you need to know for Tuesday
Bear Stearns (BSC | news | PowerRating | PR Charts ) agreed to be sold to JPMorgan Chase for $2 per share, or $236 million. BSC shares closed at $30 on Friday, valuing the 85-year old investment bank at $3.5 billion.
Many analysts felt the price JPMorgan Chase (JPM | news | PowerRating | PR Charts ) is paying significantly undervalues Bear Stearns, even allowing for litigation, de-leveraging and integration costs. Especially since the Fed is providing up to $30 billion in financing for BSC's illiquid assets. The decision means the Fed, not JPMorgan Chase, is carrying substantial risk.
MF Global (MF | news | PowerRating | PR Charts ) shares fell as much as 80%, despite reassurances from the company that it was not experiencing liquidity problems.
Shares of Lehman Brothers (LEH | news | PowerRating | PR Charts ) plunged more than 20%, also on liquidity concerns. LEH is due to report earnings of $0.72 before the market open on Tuesday.
Also before the market open, Goldman Sachs (GS | news | PowerRating | PR Charts ) is expected to report earnings of $2.58.
In deal news, CME Group (CME | news | PowerRating | PR Charts ) agreed to acquire Nymex Holdings (NMX | news | PowerRating | PR Charts ) for $9.3 billion.
And, International Paper (IP | news | PowerRating | PR Charts ) agreed to acquire the packaging and recycling businesses of Weyerhaeuser (WY | news | PowerRating | PR Charts ) for $6 billion.
Select gold stocks showing strength on higher spot prices:
In reaction to strong earnings/guidance:
Morning News
European markets are trading lower today.
In Tokyo the Nikkei 225 did finish lower.
Crude oil is $110.00 per barrel.
Wholesale gasoline is $2.69 per gallon.
Natural gas is sitting just below $10.00 per unit.
Gold has made its way up to $1,021.00 per ounce.
Friday's action saw the Dow close 194 points lower, the Nasdaq lost 51 points, and the S&P finished 27 points lower.
Federal Reserve on Sunday cut its discount rate to 3.25%
President Bush reportedly will be speeking on the economy today.
Bear Stearns has agreed to be acquired by J.P. Morgan for $236 million.
Wilber Ross to buy Option One mortgage servicing business.
Budd Foxx
Pre-Market Gappers
VG +6.6%, TWTI +6.5%, GLD +2.3%, TUP +1.3%...
Gapping down:
BSC -88.7%, LEH -33.7%, WM -14.6%, MER -12.7%, SI -12.3%, C -11.9%, GS -10.7%, WB -9.5%, UBS -7.4%, MS -6.4%, CVTX -6.3%, AMTD -5.5%, ETFC -5.0%, DB -4.7%, BAC -4.7%, CS -4.6%, ASTI -2.4%.
Upgrades and Downgrades
OTE, CNQR, AATI, ASH, NAT, PHTN, WYNN,
PAS and ANN
Downgrades:
HIBB, BRCR, STRL, MBLX, DHT, AMTD, SCHW,
NCT, PT, AMTD, IVZ, STT, GS, LEH, BK, COH
Saturday, March 15, 2008
VIDEO - Swing at Pitches in Your Happy Zone
VIDEO - Swing at Pitches in Your Happy Zone
http://www.leavittbrothers.com/.
7 Stocks you need to know for Monday
Bear Stearns (BSC | news | PowerRating | PR Charts ) plunged more than 47% after needing to be bailed out by JPMorgan Chase (JPM | news | PowerRating | PR Charts ), with a little help from the Fed. BSC was experiencing such difficulty that it couldn't wait to borrow from the Fed on March 27, instead having to turn to JPMorgan Chase, who borrowed from the Fed.
Bear Stearns is scheduled to report earnings on Monday after the market close.
AnnTaylor Stores (ANN | news | PowerRating | PR Charts ) lost more than 8% after the company missed earnings estimates by $0.01 and lowered guidance.
Boeing (BA | news | PowerRating | PR Charts ) was the only stock in the Dow to close higher, rising 2.8%.
Mylan (MYL | news | PowerRating | PR Charts ) was the biggest gainer in the S&P 500, after Citigroup raised its recommendation from "hold" to "buy".
Before the market open on Monday, Conseco (CNO | news | PowerRating | PR Charts ) is due to report earnings, with analysts looking for $0.19 per share.
Do you think Amazon.com (AMZN | news | PowerRating | PR Charts ) will close up or down on Tuesday? Play TradingMarkets Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.
Friday, March 14, 2008
BUCY
Budd Foxx
BIDU and GOOG
Budd Foxx
In reaction to strong earnings/guidance:
Pre-Market Gappers
SCA +34.8%, ZUMZ +17.4%, COGO +8.7%, SHPGY +6.1%, LSCC +6.0%, RSO +5.8%, BA +1.9%, ZIPR +1.9%, YHOO +1.8%, BHP +1.2%, ADS +1.0%...
Gapping down:
IFON -23.9%, PANL -8.9%, HIBB -8.0%, JMBA -7.6%, CEDC -4.8%, NCC -3.3%, WAVX -3.3%, NITE -2.9%, CCL -2.2%, AU -1.9%, DB -1.7%, NOK -1.6%, TOT -1.6%, SAP -1.5%, TS -1.4%.
Upgrades and Downgrades
HL, KGS, XOM, WX, GLBL, EK, MYL, OEH, and OMTR
Downgraded this morning include:
TICC, UCBH, NAHC, TEVA, and GDP
Budd Foxx
Morning News
European markets are pretty flat so far today.
In Tokyo the Nikkei 225 did end lower.
Crude oil is $109.70 per barrel.
Wholesale gasoline is $2.66 per gallon.
Natural gas is sitting at $10.28 per unit.
Gold is sitting just below $1000.00 an ounce.
CPI data set to be released at 8:30 this morning.
University of Michigan will release consumer confidence index this morning.
Yesterday's action saw the Dow come back and close 35 points higher, the Nasdaq finished 19 points higher, and the S&P closed 6 points higher.
Ben Bernanke will be speaking this afternoon.
Chrysler to shut down for two weeks this summer in an effort to save money.
Average price of a regular gallon of gas in Maui just under $4.00 per gallon.
Exxon Mobil upgraded this morning.
Boeing also has been upgraded this morning.
Budd Foxx