Tuesday, March 31, 2009
7 Stocks you need to know for Wednesday
The Dow ended the day up 86.90. The Nasdaq Composite rallied by 26.79. And the S&P 500 gained 10.34.
Here are 7 Stocks You Need to Know for Wednesday.
The new interim CEO for General Motors (GM | Quote | Chart | News | PowerRating), Fritz Henderson, said that the automaker could meet the objectives set by the government's auto task force within 60 days.
Financial stocks provided leadership again for the markets, with Bank of America (BAC | Quote | Chart | News | PowerRating) gaining more than 12% and Citigroup (C | Quote | Chart | News | PowerRating) adding more than 9%.
Google (GOOG | Quote | Chart | News | PowerRating) will reportedly invest $100 million in the first year of its new venture capital fund. The fund is called Google Ventures and will look to invest in a variety of business on and off the Internet.
Sony (SNE | Quote | Chart | News | PowerRating) announced that it was lowering the price on its PlayStation 2 to $99 in an effort to maintain customer loyalty among more casual and family-oriented video game players.
Due to fears of salmonella contamination, Kraft Foods (KFT | Quote | Chart | News | PowerRating) recalled its products containing pistachio nuts. The investigation centers around a California processing plant.
Late in the day on Tuesday, the Wall Street Journal reported that Dell (DELL | Quote | Chart | News | PowerRating) was considering using Android software from Google in its line of low-cost notebook computers.
Upgrades and Downgrades
GOOG, PRSC, DT, ADSK, TMX, AA
Downgrades:
PFG, NXY, RBA, ACN, WOSLY
MBRX, FCX
Morning News
In Japan the Nikkei 225 closed down 1.5%
In Hong Kong the Hang Seng closed up 0.90%
European markets are currently trading higher
ICSC-Goldman Store Sales
Redbook
President Obama Speech
Consumer Confidence
Motor Vehicle Sales
Crude Oil is $49.75 per barrel
Gold is $921 per ounce
7 Stocks you need to know for Tuesday
On the urging of the White House, Rick Wagoner stepped down from his position as CEO of General Motors (GM | Quote | Chart | News | PowerRating) on Monday. The move was seen as a rejection of Wagoner's efforts to restructure the company in the face of a government-mandated deadline.
Announcing quarterly earnings Tuesday before the market opens is home builder Lennar (LEN | Quote | Chart | News | PowerRating). Analysts are expecting an earnings per share loss of 64 cents.
Ebay (EBAY | Quote | Chart | News | PowerRating) acquisition, Skype announced that it will begin providing WiFi access for users of the iPhone.
The rise in popularity of the Blu-ray format over the DVD format has encouraged Netflix (NFLX | Quote | Chart | News | PowerRating) to boost its Blu-ray rental fees by 20%.
Morgan Stanley (MS | Quote | Chart | News | PowerRating) added to the bearish tone of Monday by recommending traders sell the current rally in the S&P 500 after call it the "steepest" since the 1930s. Goldman Sachs (GS | Quote | Chart | News | PowerRating) expressed similar anxieties, encouraging its clients to avoid "cyclical stocks" in particular.
Apollo Group (APOL | Quote | Chart | News | PowerRating) is expected to report quarterly EPS of 0.65 when it announces earnings Tuesday after the bell.
Monday, March 30, 2009
Upgrades and Downgrades
REGN, HF, CHD
Downgrades:
LNC, FREE, CBS, QSII, ELX
RIO, CBY, CCU, DBD, NCR, XIN
Morning News
In Japan the Nikkei 225 closed down 4.53%
In Hong Kong the Hang Seng closed down 4.7%
European markets are currently trading down 2-3%
GM's CEO Wagoner Steps Aside
Auto woes set to slam stocks
Oil sinks on Detroit's struggles
Farm Prices
Equity Settlements
Crude Oil is $50.60 per barrel
Gold is $916 per ounce
Sunday, March 29, 2009
7 Stocks you need to know for Monday
The Dow lost 148.38. The Nasdaq Composite fell 41.80. And the S&P 500 ended the day down 16.92.
Here are 7 Stocks You Need to Know for Monday.
Despite the controversies surrounding executives at American International Group (AIG | Quote | Chart | News | PowerRating), a number of the insurers top risk managers will be staying on with the company according to the Wall Street Journal.
General Motors (GM | Quote | Chart | News | PowerRating) is increasingly less likely to meet its government mandated deadline for restructuring and cost-cutting, despite the large number of employees who took advantage of the automaker's buyout offers earlier this week.
Joining the ranks of companies downsizing physical plants, Amazon.com (AMZN | Quote | Chart | News | PowerRating) announced that it would be shutting down some of its facilities this year in a cost-cutting effort.
Apple (AAPL | Quote | Chart | News | PowerRating) will be ending its fixed 99 cent price for songs downloaded by way of its iTunes online music store as of April 7.
Boston Scientific (BSX | Quote | Chart | News | PowerRating) warned on Friday that some of its defibrillators may misfire due to issues with wiring.
Bank CEOs from Ken Lewis of Bank of America (BAC | Quote | Chart | News | PowerRating) to John Stumpf of Wells Fargo (WFC | Quote | Chart | News | PowerRating) met with President Obama at the White House to discuss banking's roll in economic policy.
Friday, March 27, 2009
Upgrades and Downgrades
COMS, JCP, CAG, ARB, PRGS,
NVLS, CHLN
Downgrades:
ARD, FSLR, DTSI, WX, CHH, UTIW
STP, TSL, PCG, PBR, RJF, RVBD
Morning News
In Japan the Nikkei 225 closed down 0.11%
In Hong Kong the Hang Seng closed up 0.07%
European markets are currently trading lower
Personal Income and Outlays
Crude Oil is $53.50 per barrel
Gold is $929.50 per ounce
Thursday, March 26, 2009
7 Stocks you need to know for Friday
The Dow added 174.75. The Nasdaq Composite closed higher by 58.05. And the S&P 500 ended the day up 18.98.
Here are 7 Stocks You Need to Know for Friday.
Reporting quarterly earnings Friday morning before the market opens, KB Homes (KBH | Quote | Chart | News | PowerRating) is expected to announce an EPS loss of 86 cents.
General Motors (GM | Quote | Chart | News | PowerRating) announced that 7,500 employees took advantage of the struggling automaker's buyout offers. The buyout offers were part of the required cost-cutting measured called for in its loan agreement with the U.S. government.
New York attorney general Andrew Cuomo will subpoena American International Group (AIG | Quote | Chart | News | PowerRating) as part of an investigation into the insurer's credit default swaps.
Best Buy (BBY | Quote | Chart | News | PowerRating) soared by more than 12% on Thursday, as investors and traders cheered the company's earnings announcement, which reflected losses that were not as bad as feared.
Among the technology stocks helping lead the markets higher on Thursday were Nvidia Corporation (NVDA | Quote | Chart | News | PowerRating) and Research in Motion (RIMM | Quote | Chart | News | PowerRating). Research in Motion closed above its 200-day moving average for the first time since January 2008. Both stocks were up more than 5% on the day.
An even more remarkable milestone was the 10%+ rally in Starbucks (SBUX | Quote | Chart | News | PowerRating) which helped the stock close above its 200-day moving average for the first time since January 2007.
Upgrades and Downgrades
GOOG, NOK, GIB, SPIL, VCLK
AMN, SMI, IACI, TGB
Downgrades:
CSL, IHG, CEO, JNS, HOO
TSM, PTR
Morning News
In Japan the Nikkei 225 closed up 1.85%
In Hong Kong the Hang Seng closed up 3.5%
European markets are currently trading higher
President Obama Speech
Corporate Profits
Crude Oil is $53.50 per barrel
Gold is $938.50 per ounce
Wednesday, March 25, 2009
7 Stocks you need to know for Thursday
The Dow finished up 89.84. The Nasdaq
Here are 7 Stocks You Need to Know for Thursday.
Reporting earnings after the market closed on Wednesday, Paychex (PAYX | Quote | Chart | News | PowerRating) announced EPS of 36 cents which was in-line with analyst estimates. Down more than 3% before the close, PAYX had been trading in extreme overbought territory below the 200-day moving average for the past two days.
JP Morgan Chase & Co. (JPM | Quote | Chart | News | PowerRating) was among the financial stocks to move dramatically late on Wednesday. Closing up more than 8% on the day, JPM rallied by more than 9% from its intraday lows in the last hour of trading.
A number of companies are reporting quarterly earnings before the maket opens on Thursday. These include Best Buy (BBY | Quote | Chart | News | PowerRating), which is expected to report earnings per share of 1.41; ConAgra Foods (CAG | Quote | Chart | News | PowerRating), which is expected to announce EPS of 37 cents; and GameStop Corporation (GME | Quote | Chart | News | PowerRating) from which analysts are expecting to hear per share earnings of 1.34.
Without announcing specific numbers, IBM (IBM | Quote | Chart | News | PowerRating) warned on Wednesday that it would be cutting jobs at its global services unit and transferring many of those responsibilities to workers in India. The stock continues to trade just below its 200-day moving average.
Goldman Sachs (GS | Quote | Chart | News | PowerRating) is unlikely to sell its stake in ICBC before the spring of 2010, according to Chinese officials.
Mar 25 - Before the Open
Mar 25 - Before the Open
Mar 23 - 27 - Earnings & Econ this week.
www.leavittbrothers.com
Upgrades and Downgrades
HSP, PEP, CBG, ABMD, CBG
LLTC
Downgrades:
HSY, UBS, WSM, AXP, BX
CYPB, SLAB, ATML, CHA
Morning News
In Japan the Nikkei 225 closed down 0.10%
In Hong Kong the Hang Seng closed down 2.07%
European markets are currently trading down by 0.5%
MBA Purchase Applications
New Home Sales
EIA Petroleum Status Report
President Obama Speech
Crude Oil is $52.85 per barrel
Gold is $925 per ounce
Tuesday, March 24, 2009
7 Stocks you need to know for Wednesday
Here are 7 Stocks You Need to Know for Wednesday.
Goldman Sachs (GS | Quote | Chart | News | PowerRating) President and COO Gary Cohn refused to speculate just when the company might return capital borrowed from the government last year.
In response to a bill that would put the company under the jurisdiction of the National Labor Relations Board, FedEx (FDX | Quote | Chart | News | PowerRating) stated that it would be forced to delay purchase of up to 30 new cargo planes. The threat was interpreted to suggest that the jurisdiction change would make it easier for FedEx employees to unionize and cost the company money.
Solarfun Power Holdings (SOLF | Quote | Chart | News | PowerRating) is expected to report an earnings per share loss of seven cents when it announces quarterly earnings Wednesday morning before the market opens.
Two of the top researchers at Bank of America (BAC | Quote | Chart | News | PowerRating), Chief Investment Strategist Richard Bernstein and chief North American Economist, David Rosenberg will be leaving the company later this year.
Fed Chairman Ben Bernanke, Treasury Secretary Tim Geithner and New York Fed president William Dudley testified before Congress about the continued controversies surrounding the public bailout of American International Group (AIG | Quote | Chart | News | PowerRating).
United States Steel Corporation (X | Quote | Chart | News | PowerRating) was among the bigger winners on a profit-taking day, gaining more than 5% on Tuesday. With regard to Nasdaq stocks, Palm Inc. (PALM | Quote | Chart | News | PowerRating) also ahead more than 5% on the day.
Upgrades and Downgrades
CAI, CNI, TXN, TFX, CLF
YSI, PVH, MCHP
Downgrades:
TSO, INFY, PBY, CXR, TII, DIET
HUBG, SUSS, CHT, RRC, HUBG,
ITMN, BBG, GBCI, CERN, PENX, TS
Morning News
In Japan the Nikkei 225 closed up 3.3%
In Hong Kong the Hang Seng closed up 3.45%
European markets are currently mixed
President Obama Speech
Bank Reserve Settlement
Crude Oil is $53 per barrel
Gold is down $20 and is $932 per ounce
7 Stocks you need to know for Tuesday
The Dow rallied 497.48. The Nasdaq Composite ended the day up 98.50. And the S&P 500 closed higher by 54.38.
Here are 7 Stocks You Need to Know for Tuesday.
Carnival (CCL | Quote | Chart | News | PowerRating) reports quarterly earnings Tuesday morning before the market opens. Analysts are expecting EPS of 18 cents.
Treasury secretary Tim Geithner's strategy for dealing with "toxic assets" was met with aggressive buying in a number of financial stocks. Leading on the day were shares of Bank of America (BAC | Quote | Chart | News | PowerRating) up more than 19% and Wells Fargo (WFC | Quote | Chart | News | PowerRating), which gained more than 15% intraday on Monday.
Brokerages were also booming on Monday. E*Trade Financial (ETFC | Quote | Chart | News | PowerRating) was up more than 9% and Charles Schwab (SCHW | Quote | Chart | News | PowerRating) gained more than 5%.
Also reporting quarterly earnings before the bell Tuesday morning is Talbots (TLB | Quote | Chart | News | PowerRating), which is expected to announce an earnings per share loss of 61 cents.
The Wall Street Journal reported that Goldman Sachs (GS | Quote | Chart | News | PowerRating) is considering selling part of its near 5% stake in the Industrial & Commercial Bank of China. The sale could raise as much as $1 billion. Proceeds would contribute toward repaying $10 billion in public assistance received in 2008, according to Journal sources.
Monday, March 23, 2009
Stocks Trading Up in Pre-Market
GS, RIMM, JPM, GE, HBAN, CNQR
CETV, FITB, ONNN, CPHD, HCBK
Upgrades and Downgrades
PUK, CRA, A, CNQR, SNY
DRE, AMB, GLW
Downgrades:
RSYS, SHLM, ORLY, AZO, WPPGY
GOL, BHP, HRS, CERN, FWRD, STC
Morning News
In Japan the Nikkei 225 closed up 3.4%
In Hong Kong the Hang Seng closed up 4.8%
European markets are currently trading higher by 1.5%
Stocks poised to surge on bank plan
Obama will seek investors in plan to buy up to $1 trillion in toxic assets
Suncor to buy Petro-Canada for $18.4B
Existing Home Sales
Crude Oil is $52.25 per barrel
Gold is $953 per ounce
Sunday, March 22, 2009
Trade Review and Special Offer
Special Offer
Mar 23 - 27 - Earnings & Econ this week.
www.leavittbrothers.com
7 Stocks you need to know for Monday
The Dow fell 122.42. The Nasdaq Composite ended the day down 26.21. And the S&P 500 closed lower by 15.50.
Here are 7 Stocks You Need to Know for Monday.
Among the companies reporting quarterly earnings Monday morning before the market opens are high-end retailer Tiffany & Company (TIF | Quote | Chart | News | PowerRating), which is expected to report EPS of 80 cents, and Walgreen (WAG | Quote | Chart | News | PowerRating), which is expected to announce earnings per share of 0.66.
Optimism toward drug sales encouraged UBS to upgrade Johnson & Johnson (JNJ | Quote | Chart | News | PowerRating) to "buy" on Friday. UBS has a price target of $63 for the pharmaceutical giant.
Indicative of the profit-taking in financial stocks was the 10% pullback in Bank of America (BAC | Quote | Chart | News | PowerRating) on Friday as well as the 7% drop in JP Morgan Chase & Co. (JPM | Quote | Chart | News | PowerRating).
The pressure remained on American International Group (AIG | Quote | Chart | News | PowerRating) on Friday as attorneys general from 18 states announced intentions to begin investigations into bonuses paid by the increasingly publicly owned insurer.
Cisco Systems (CSCO | Quote | Chart | News | PowerRating), which was recently added to Goldman Sachs' "conviction buy list", on Friday announced its plan to purchase Pure Digital Technologies, makers of popular, inexpensive mini-video camcorders called Flip.
Friday, March 20, 2009
Upgrades and Downgrades
NAV, JAS, JNJ, EXPE, CE
Downgrades:
CHT, URBN, DNN, CTXS, HOT
CBT, EGLE, DSX, ESEA, DT, AN
Morning News
In Japan the Nikkei 225 closed down 0.33%
In Hong Kong the Hang Seng closed down 2.25%
European markets are currently trading down 0.5%
Dollar on record course of decline
President "Stunned" by AIG Bonues
Crude Oil is $51 per barrel
Gold is $957 per ounce
7 Stocks you need to know for Friday
The Dow fell 85.78. The Nasdaq
Here are 7 Stocks You Need to Know for Friday.
Want an iPhone but uneasy about commitment? AT&T (T | Quote | Chart | News | PowerRating) has announced that it will start selling the iPhone by Apple (AAPL | Quote | Chart | News | PowerRating) without requiring a two-year contract. The new month-to-month option will be available as of March 26.
Profit-taking was especially pronounced in financial stocks, many of which have racked up significant gains over the past several days. JP Morgan Chase & Company (JPM | Quote | Chart | News | PowerRating) was down nearly 8% late in trading on Thursday, while Morgan Stanley (MS | Quote | Chart | News | PowerRating) lost more than 13%.
In the wake of the controversy over retainment bonuses paid by American International Group (AIG | Quote | Chart | News | PowerRating), the U.S. House of Representatives passed legislation levying a 90% tax on bonuses paid by companies that received public assistance.
The spike in gold and continued strength in copper has helped the share price of companies like Freeport McMoran Copper & Gold (FCX | Quote | Chart | News | PowerRating), which gained more than 5% on Thursday, but closed off its highs.
Sony Corporation (SNE | Quote | Chart | News | PowerRating) announced a plan to freeze salaries for full-time employees for a year as part of a cost-cutting initiative.
Thursday, March 19, 2009
Upgrades and Downgrades
APP, NOK, BEC, AA, CHRT, PNY
GAS, CWT, WTR, ABG, SUI
Downgrades:
SOHU, TEX, BMR, ERIC, EXPE,
GGG, MTB
Morning News
In Japan the Nikkei 225 closed down 0.33%
In Hong Kong the Hang Seng closed up 0.10%
European markets are currently trading higher by 1.5%
Jobless Claims
Philadelphia Fed Survey
Leading Indicators
EIA Natural Gas Report
President Obama Speech
Crude Oil is $50.40 per barrel
Gold is $936.50 per ounce
Wednesday, March 18, 2009
7 Stocks you need to know for Thursday
The Dow closed higher by 90.88. The Nasdaq Composite gained 29.11. And the S&P 500 ended the day up 16.23.
Here are 7 Stocks You Need to Know for Thursday.
Reporting quarterly earnings after the close on Wednesday was Oracle Corporation (ORCL | Quote | Chart | News | PowerRating), which beat analyst estimates by three cents. The company also announced its first ever quarterly dividend of 5 cents a share.
Also reporting after the bell on Wednesday was Nike (NKE | Quote | Chart | News | PowerRating), which smashed analyst estimates by twenty cents per share.
The Wall Street Journal reported that IBM (IBM | Quote | Chart | News | PowerRating) is looking into buying Sun Microsystems (JAVA | Quote | Chart | News | PowerRating) as part of an $8 billion dollar deal that would have IBM picking up the company for between $10-11 per share.
A number of companies are reporting quarterly earnings Thursday morning before the market opens. Perhaps at the top of the list is FedEx Corporation (FDX | Quote | Chart | News | PowerRating), which is expected to announce EPS of 0.46.
Also reporting Thursday morning is Ross Stores (ROST | Quote | Chart | News | PowerRating). Analysts are expecting per share earnings of 76 cents.
An earnings per share loss of 59 cents is what analysts expect to hear from Palm Inc. (PALM | Quote | Chart | News | PowerRating), which is scheduled to report earnings after the close on Thursday.
Morning News
In Japan the Nikkei 225 closed up 0.30%
In Hong Kong the Hang Seng closed up 1.86%
European markets are currently trading higher
MBA Purchase Applications
Consumer Price Index
Current Account
EIA Petroleum Status Report
FOMC Meeting Announcement
Crude Oil is $48.40 per barrel
Gold is $911 per ounce
Tuesday, March 17, 2009
7 Stocks you need to know for Wednesday
The Dow gained 178.73. The Nasdaq Composite ended the day up 58.09. And the S&P 500 closed higher by 24.23.
Here are 7 Stocks You Need to Know for Wednesday.
Political pressure continues to mount against American International Group (AIG | Quote | Chart | News | PowerRating) and its payment of millions of dollars in bonuses after receiving massive public assistance. Senators in Congress are looking into an excise tax to recoup bonus money already paid out to AIG derivatives traders and others in the company's financial products division.
Surprisingly strong home building statistics - specifically with regard to better than expected housing starts - led to a rally in home builder stocks like Centex (CTX | Quote | Chart | News | PowerRating) and in home improvement retailers like Home Depot (HD | Quote | Chart | News | PowerRating).
Alcoa (AA | Quote | Chart | News | PowerRating) announced after the markets closed on Monday that it was slashing its dividend from 17 cents per share to 3 cents per share, a cut of more than 82%.
Reporting quarterly earnings Wednesday before the market opens, General Mills (GIS | Quote | Chart | News | PowerRating) is expected to announce EPS of 88 cents.
Both Nike (NKE | Quote | Chart | News | PowerRating) and Oracle (ORCL | Quote | Chart | News | PowerRating) are scheduled to announce earnings Wednesday after the bell. Analysts are expecting EPS of 79 cents from Nike, and earnings per share of 0.32 from Oracle.
Upgrades and Downgrades
PAAS, ASCA, STRA, FDX, UNH
COST, BBY, USTR, HD, KSS, LOW
TGT, ABB, ESV
Downgrades:
ENER, WXS, PCAP, RMD, WBD
EURX, GS
Morning News
In Japan the Nikkei 225 closed up 3.2%
In Hong Kong the Hang Seng closed down 0.76%
European markets are currently trading down by 0.50%
ICSC-Goldman Store Sales
Housing Starts
Producer Price Index
Redbook
Crude Oil is $47.85 per barrel
Gold is $921.50 per ounce
Monday, March 16, 2009
7 Stocks you need to know for Tuesday
The Dow ended the day off 7.01. The Nasdaq
Here are 7 Stocks You Need to Know for Tuesday.
Wells Fargo & Co. (WFC | Quote | Chart | News | PowerRating) chairman Richard Kovacevich blasted the U.S. government for adding conditions to the TARP assistance the financial firm has already received. Kovacevich claimed that Wells
A number of companies are reporting earnings after the bell on Tuesday. They include Adobe Systems (ADBE | Quote | Chart | News | PowerRating), which is expected to announce EPS of 0.38, and Darden Restaurants (DRI | Quote | Chart | News | PowerRating). Analysts are expecting to hear earnings per share of 68 cents from Darden.
Casinos as collateral? MGM Mirage (MGM | Quote | Chart | News | PowerRating) is looking into using its casinos to help avoid defaulting on its bank loans.
President Obama pledged to use the leverage of the White House in an effort to stop American International Group (AIG | Quote | Chart | News | PowerRating) from paying out $165 million in bonuses. The development only adds to the controversy surrounding AIG, which is also under fire for its transfer of more than $100 billion in public assistance to counterparties.
Activist investor Bill Ackman has announced his intention to nominate himself to the board of Target (TGT | Quote | Chart | News | PowerRating), which continues to play catch-up with larger rival, Wal-Mart (WMT | Quote | Chart | News | PowerRating).