I do not understand how they will avoid double dip, but I’m just a reporter…..
Comments »Fighting Still Continues in Benghazi Stronghold; No Foreign Intervention Yet
Qaddafi writes a letter stating we can either be friends or that he will die for the country. Qaddafi further states the U.N. resolution is invalaid as he calls all citizens to a Jihad against the infidel….
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Finally Some Good News Out of Japan
Now it would be nice to have some audited confirmation.
Unfortunately some food stuffs have been found to be contaminated.
Comments »Michigan Passes “Financial Martial Law”
Goldman Sachs Buys Back Preferred Paper From Warren Buffet
SEC Sues IBM For Alleged Bribery
52 Weeks Highs and Lows Today
New 52-week highs trading over 250K (average daily volume) include: BAS, BSFT, BTU, CBI, CRA, DTG, EGOV, IFF, JAS, JVA, LUK, SHPGY, TRGP, UNIS
New 52-week lows trading over 250K (average daily volume) include: DANG, DGW, DYP, ESLR, GNK, PURE, SNSS, WIBC
Comments »Consumers Can Not Expect Privacy Online
NASDAQ Bid For NYSE Hits a Snag
Today’s Gainers and Losers
The following are today’s top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).
Today’s top 20 % gainers
- Utilities: CNP (16.57 +9.01%),
- Technology: LFT (33.35 +11.46%), BSFT (52.35 +10.04%), AVID (22.7 +8.3%), SWIR (10.77 +6.63%),
- Services: CRA (8.15 +29.98%), NWY (6.27 +15.05%),
- Healthcare: CYTX (7.27 +9.98%), AKRX (5.61 +9.14%), ARIA (6.28 +6.8%), IRWD (13.35 +6.63%),
- Financial: MTG (8.9 +6.97%),
- Consumer Goods: CIGX (3.66 +12.61%), FDML (25 +10.5%), LO (85.79 +8.9%), AOI (3.84 +6.67%), EK (3.23 +6.6%),
- Basic Materials: DNN (2.67 +10.29%), CDE (31.88 +7.74%), EXK (9.07 +6.33%).
Today’s top 20 % losers
- Technology: LDK (11.61 -7.12%), CIEN (23.21 -6.18%), MIPS (10.05 -5.99%), OCLR (10.61 -5.76%), JDSU (19.07 -5.41%), HSOL (7.12 -4.94%), JASO (6.63 -4.33%), XXIA (14.9 -4.3%), FNSR (20.92 -4.21%),
- Services: GLNG (22.92 -4.34%),
- Industrial Goods: PPO (52.97 -4.88%), JKS (24.17 -4.54%),
- Healthcare: KV-A (8.28 -14.11%), AMAG (16.29 -4.46%),
- Consumer Goods: NKE (77.3 -9.5%), UA (63.33 -5.59%), FN (18.85 -4.85%),
- Basic Materials: YONG (6.24 -6.87%), LNG (8.04 -4.4%), BPZ (5.11 -4.31%).
Most active
The following are today’s most active stocks ranked by volume and relative volume, categorized by sectors (over $300 mln market cap and 100K average daily volume).
Today’s top 20 volume
- Technology: CSCO (80.09 mln +1.65%), MSFT (37.98 mln +1.01%), INTC (31.77 mln +0.45%), S (26.21 mln 0%), AAPL (17.39 mln -0.63%), ORCL (16.94 mln +0.88%), MU (16.82 mln -0.78%), QCOM (16.13 mln -1.66%), JDSU (15.6 mln -5.41%),
- Services: SIRI (51.91 mln -1.73%), CRA (27.87 mln +29.98%),
- Healthcare: CTIC (76.91 mln -3.86%), PFE (42.28 mln +1.26%),
- Financial: C (288.4 mln +1.91%), BAC (113.22 mln +1.43%), JPM (42.53 mln +3.39%), WFC (39.07 mln +2.46%), RF (16.53 mln -2.04%),
- Consumer Goods: F (37.5 mln +2.03%),
- Conglomerates: GE (42.06 mln +1.38%).
Today’s top relative volume (current volume to 3-month average daily volume)
- Utilities: CNP (8.65x +9.01%),
- Technology: BSFT (5.77x +10.04%),
- Services: CRA (153.41x +29.98%), CASY (7.42x +2.81%), GLNG (6.99x -4.34%), HA (6.14x +0.16%), NWY (6.01x +15.05%),
- Industrial Goods: PPO (6.42x -4.88%),
- Healthcare: CTIC (22.59x -3.86%), PLX (6.46x -2.95%),
- Financial: HTS (16.03x -3.5%), CODI (6.34x -1.83%),
- Consumer Goods: LO (10.55x +8.9%), NKE (9.86x -9.5%), PERY (9.44x -3.16%), FDML (7.98x +10.5%), CIGX (6.48x +12.61%),
- Basic Materials: EVEP (6.28x +3.4%), VTG (6.04x -0.51%), OAS (5.66x -2.77%)
The following are some of today’s most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
- LO (86.35 +9.61%): hearing added to Most Preferred List at UBS; TPSAC meeting discussing the health effects of Menthol Cigarettes began yesterday afternoon, and will continue this morning; Reports indicate that the panel concluded that removing menthol cigarettes would improve public health, and that the FDA will now review the report
- INTU (50.9 +5.1%): reported TurboTax online unit growth of 30% from Feb. 13 through March 12
- CCJ (29.27 +4.16%): uranium related names ticking higher following recent sell-off
- SI (130.28 +3.68%): upgraded to Buy at Deutsche Bank
Large Cap Losers
- NKE (77.25 -9.55%): missed EPS and revs; future orders in-line; downgraded to Neutral from Buy and removed from Conviction Buy list at Goldman
Mid Cap Gainers
- MMI (26.4 +5.52%): upgraded to Buy at UBS
- BRKR (18.96 +4%): CEO/10% owner bought 10,000 shares at $18.51-18.61
- MWV (28.91 +3.88%): upgraded to Buy from Neutral and added to Conviction Buy at Goldman
- AGO (14.37 +3.01%): quick pop as takeover rumor makes the rounds
- WAT (84.17 +2.95%): authorized the repurchase up to $500 million of its outstanding common shares over the next 24 month
Mid Cap Losers
- UA (63.15 -5.86%): lower following NKE results
- PPO (53.02 -4.79%): priced 4.5 mln shares of its common stock by certain selling stockholders, including Warburg Pincus Private Equity VIII, L.P., Warburg Pincus International Partners, L.P. and certain executive officers of co, at a public offering price of $52.75 per share
- JDSU (19.35 -4.02%): target cut to $28 from $32 at Stifel
- OAS (31.2 -1.89%): hearing related to pricing of offering
State of Emergency Declared in Yemen as 42 Are Said to be Shot Dead
Market Outlook Thus Far Today
Sector Summary: S&P Information Technology Index (0.1%) is trading higher today, but underperforming the broader market.
The tech sector is trading higher today, but underperforming the broader market. Among major indices, the Philly Semi Index is currently trading 0.3% higher , the NASDAQ is trading 0.2% higher , and the S&P 500 is trading 0.6% higher. Among the bellwethers, NOK (+3.1%) is showing strength while AAPL (-0.9%) is showing weakness.
News of interest: INTU (+3.3%) reported TurboTax online unit growth of 30% from Feb. 13 through March 12… WSTL (+14.0%) will sell substantially all of the assets of Westell’s Customer Networking Solutions division to NTGR (+0.7%) for $33.5 million in cash…CSCO (+1.5%) announced its first ever cash dividend; quarterly dividend of $0.06 per common share will be paid on April 20, 2011…SAP (+2.4%) recommended to increase dividend by 20% to Euro 0.60/share.
Notable analyst calls: ACN (+2.0%) upgraded to Buy at Stifel Nicolaus with $59 target.
Notable earnings reports: LDK (-7.1%) beat EPS and revs consensus; guided FY11 revs above consensus… NJ (+1.3%) lowered FY10 EPS guidance on higher than expected sales; revised guidance reflects a harsh pricing environment in the compact digital camera market and the resulting cost pressures.
Sector Summary: The Industrials Sector is Trading +1.1%, Outperforming the S&P 500; FDX gets upgraded -Update
The industrials sector +1.1% is trading better than the S&P 500 +0.7%.
In broker news: FDX +1.3% (FedEx upgraded to Outperform from Market Perform at Raymond James). In related broker news:QLTY +0.6% (Quality Distribution initiated with an Outperform at RBC Capital).
In sector news: CAT +2.0% (Caterpillar discloses 3-month rolling period compared with the same months of the prior year dealer stats. For Feb.11, Asia/Pacific +57%, EAME +53%, Latin America +76%, ROW 60%, North America +55%, World +59%; Caterpillar says disruption to the supply chain in Japan has not stopped production at other Caterpillar facilities around the world;), PLL +1.2% (Pall Corp announced last night that its GeneDisc Rapid Microbiology system has been validated by the AOAC Research Institute for detection of non-O157 STEC in meat), LLL +1.1% (L-3 Comms gets awarded a $314.6 mln contract — DoD), MMM +0.8% (3M filed a joint motion for preliminary approval of a class action settlement regarding the Whitaker et al. vs. 3M lawsuit; MMM to pay up to $12 mln), LMT +0.4% (Lockheed Martin gets awarded a $376.6 mln contract — DoD).
In related sector news: NEXS +54.0% (Nexxus Lighting surging following news that its products will be offered at Lowe’s (LOW)),PPO -5.0% (Polypore announces secondary offering of 4.5 mln shares of common stock by selling stockholders)
The S&P Materials Index (+1.0%) is trading in-line with the broader market (+1.0%).
Broker calls: MWV +3.1% (MeadWestvaco upgraded to Buy from Neutral at Goldman; also added to Conviction Buy List). In related broker calls: CGR +2.0% (Claude Resources initiated with an Outperform at RBC Capital), AAUKY +1.5% (Anglo American: Hearing upgraded earlier at Tier 1 firm).
In related earnings: TGB +3.4% (Taseko Mines announces 2010 operating profit of $126 mln).
In related sector news: AFFY -5.6% (Affymax prices public offering of 8,474,576 shares of its common stock at a price to the public of $5.90 per share), CE +1.1% (Celanese announces a price increase in Europe, Middle East and Africa for the polyester products Celanex PBT, Vandar PBT, Impet PET and Riteflex TPC-ET by EUR0.15/kg, or higher on selected products).
The S&P Energy Sector (+0.9%) is higher this morning and is currently trading inline with the broader market (+0.9%).
Sector News: WG (+2.7%) announced that it was awarded contracts by Plains Marketing, L.P. to build three new petroleum storage tanks. ECA (+1.9%) announced an agreement to acquire 30% interest in the planned Kitimat liquefied natural gas export terminal. BPL (+0.6%) announced an agreement to acquire refined products terminals and pipelines from BP for total purchase price of $225 mln.
Broker Calls: DVN (+0.7%) was initiated with an Outperform at RBC Capital. COG (-0.9%) was upgraded to Buy, from Neutral, at BofA/Merrill. SFY (+1.1%) was upgraded to Buy at MKM Partners.
Futures: April crude oil ($101.54 +$0.12) has recently ticked into positive territory. It has done little since the open of pit trade.April natural gas ($4.148 -$0.01) is recently traded to its lowest levels of the morning, at $4.099, and is attempting to bounce off those lows
The consumer discretionary group is underperforming the broader market in early trade. The retail group is also trailing with the Retail HOLDRS Trust (RTH) up 0.6%, the S&P Retail (RLX) up 0.5% and the SPDR S&P Retail ETF (XRT) up 0.4%. Trading on upside: Shoe Carnival (SCVL +6.5%) beat by $0.02, reported revs in-line; guided Q1 EPS in-line, revs in-line… Stage Stores (SSI +5.6%) strength attributed to upgrade at Johnson Rice… New York & Co (NWY +5.5%) reported Q4 (Jan) results, revs in-line… Trading on the downside: American Apparel (APP -11.4%) files to delay its 10-K; reported prelim results; may not have sufficient liquidity necessary to sustain operations for the next twelve months… Nike (NKE -9.1%) missed by $0.04, missed on revs; futures orders in-line. UA -5.6% is also trading lower… Perry Ellis (PERY -7.6%) beat by $0.02, reported revs in-line; guided FY12 EPS below consensus, reaffirms FY12 revs guidance… Cost Plus (CPWM -5.5%) missed by $0.01, reported revs in-line; guided Q1 EPS in-line, revs above consensus; guided FY12 EPS below consensus, revs in-line… Notable Mentions:
Other notable mentions: Leaders: Unilever (UN +2.3%) upgraded to Buy from Hold at ING Group… Autoliv (ALV +1.2%) initiated with a Hold at Jefferies
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