Ex auto – Prior 0.6%, Market Expects 0.5%, Actual 0.2%
Comments »Jim Reid of Deustche Bank Expects 2012 to Be Just Like 2011
Asian Markets Fall Over EU Debt Concerns and Intel’s Downward Guidance
Asian Markets Get Hammered While Europe and U.S. Futures Experience a Modest Bounce
TODAY’S HORRENDOUS LOSERS
No. Ticker % Change
1 LZEN -41.65
2 CAS -30.59
3 DMND -23.89
4 ZX -19.95
5 PNCL -19.78
6 NEXS -17.23
7 TNGN -16.02
8 NBG -15.42
9 TBSI -14.81
10 DHT -14.47
11 QTWW -13.89
12 GRO -13.32
13 AMR -13.06
14 IGC -12.35
15 NTE -12.10
16 CEDC -11.80
17 ROSE -11.77
18 SKY -11.43
19 CFW -10.89
20 PCBK -10.79
21 MTE -9.51
22 FRZ -9.30
23 CNAM -9.15
24 MNTG -9.14
25 GBE -9.09
26 WH -9.09
27 LYTS -9.08
28 ING -8.94
29 MGN -8.91
30 WNS -8.82
31 ANR -8.74
32 VALU -8.71
33 BPZ -8.65
34 XCO -8.58
35 SHZ -8.56
36 FREE -8.20
37 GBG -8.11
38 JSDA -8.08
39 DYN -8.00
40 AEG -7.98
41 KV-A -7.98
42 RAIL -7.93
43 EVC -7.91
44 LXRX -7.87
45 GENE -7.86
46 ZAGG -7.81
47 JRCC -7.77
48 SRT -7.77
49 HPOL -7.69
50 YMI -7.59
Today’s Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE HL 1/21/12 6.0000 3131 0.6400 dn 0.1400 YHOO 12/17/11 15.0000 766 0.6100 dn 0.4200 MS 4/21/12 20.0000 700 0.9500 dn 0.2600 GE 12/17/11 17.0000 675 0.1000 dn 0.1100 BAC 12/17/11 6.0000 547 0.0300 dn 0.0600 GLD 1/21/12 170.0000 544 1.6800 dn 1.5700 BAC 1/21/12 6.0000 470 0.2700 dn 0.1200 DIA 12/17/11 122.0000 416 0.4500 dn 0.9300 BAC 12/17/11 5.0000 402 0.4800 dn 0.2700 C 1/21/12 30.0000 396 1.0000 dn 0.8100 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE GLD 12/17/11 165.0000 618 4.3000 up 2.8800 GLD 12/17/11 167.0000 555 5.4200 up 3.0900 BAC 12/17/11 5.0000 544 0.0500 up 0.0200 OXY 1/21/12 40.0000 500 0.0400 dn 0.0100 MO 12/17/11 28.0000 411 0.0500 dn 0.0200 AMR 1/21/12 0.5000 404 0.1500 dn 0.0400 MS 12/17/11 15.0000 403 0.4300 up 0.2300 WFC 1/21/12 27.0000 400 1.7700 up 0.3300 GLD 12/17/11 120.0000 396 0.0100 up 0.0000 C 12/17/11 27.0000 364 0.8000 up 0.4200 -VOLUME- CALLS PUTS TOTAL 68974 83108 152082
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE UTHR 1/21/12 60.0000 22332 0.0100 dn 0.0900 CSCO 2/18/12 19.0000 14283 0.7900 dn 0.2600 CSCO 2/18/12 18.0000 14019 1.3800 dn 0.2600 C 12/17/11 30.0000 13888 0.1200 dn 0.4200 RIMM 2/18/12 19.0000 10200 0.9800 dn 0.1000 HL 1/21/12 6.0000 9231 0.6500 dn 0.1400 BAC 1/18/14 12.0000 8779 0.4900 dn 0.1100 BAC 1/18/14 7.0000 8134 1.5100 dn 0.1700 BMO 3/17/12 65.0000 6265 0.2500 up 0.0000 INTC 1/21/12 19.0000 5543 4.9000 dn 1.1500 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE UTHR 1/21/12 60.0000 17052 18.4000 up 0.3000 SQNM 1/21/12 5.0000 10185 1.2400 up 0.0100 GLW 12/17/11 13.0000 6905 0.1200 up 0.0600 BAC 12/17/11 6.0000 4079 0.5800 up 0.2200 INTC 12/17/11 24.0000 3947 0.3900 up 0.2800 BAC 1/21/12 6.0000 3656 0.8400 up 0.1900 KMI 6/16/12 30.0000 3482 4.5000 dn 0.3000 AA 1/21/12 10.0000 3082 1.0300 up 0.1900 AA 4/21/12 8.0000 3020 0.5700 up 0.0800 NOV 5/19/12 47.5000 2429 1.9400 up 0.2200 -VOLUME- CALLS PUTS TOTAL 1199770 1150321 2350091Comments »
Today’s Heat Map and A/D Line
ECB Slows Bond Purchases Dramatically Last Week
The ECB bought EUR635 million in government bonds on the secondary market last week, the smallest amount since it re-launched the purchases in August and also down from EUR3.662 billion the previous week, ECB data released Monday show.
Comments »Type 5 Chart Porn on The CRB and Shanghai
321 Crack Spreads Bounce 6%
Gapping Up and Down This Morning
Gapping up
ENDP +9.5% , ARRY +4.3%, ARIA +2.3%, OXGN +23.4%, GNRC +1.4% , THQI +6.5%,
Gapping down
ING -7.8%, STD -2%, BP -1.9%, SDRL -1.5%, ASML -1.4%, DB -3.5%, SLV -3%, TOT -3%, HBC -2.5%,
FRO -3.8%, MT -3.8%, STO -3.6%, E -2.1%,
Comments »
This Morning’s Upgrades and Downgrades
| Company | Date | Analyst | Action | From | To |
|---|---|---|---|---|---|
| BROWN FORMAN B (BF.B) |
12/09/2011 | UBS | Reiterated | Neutral | |
| PHARMACYCLICS (PCYC) |
12/09/2011 | RBC Capital Mkts | Downgraded | Outperform | Sector Perform |
| IGATE CORP (IGTE) |
12/09/2011 | RBC Capital Mkts | Initiated | Outperform | |
| RUDOLPH TECH (RTEC) |
12/09/2011 | Dougherty & Company | Initiated | Buy | |
| PLURISTEM THERA (PSTI) |
12/09/2011 | Global Hunter Securities | Initiated | Speculative Buy | |
| INVESCO MORTGAG (IVR) |
12/09/2011 | JMP Securities | Downgraded | Mkt Outperform | Mkt Perform |
| HALLADOR ENERGY (HNRG) |
12/09/2011 | BB&T Capital Mkts | Initiated | Buy | |
| TEXAS INSTRS (TXN) |
12/09/2011 | Canaccord Genuity | Reiterated | Hold | |
| FLOW INTL CORP (FLOW) |
12/09/2011 | Northland Securities | Upgraded | Market Perform | Outperform |
| CURIS INC (CRIS) |
12/09/2011 | Oppenheimer | Initiated | Outperform | |
| CIENA CORP (CIEN) |
12/09/2011 | Northland Securities | Initiated | Market Perform | |
| T ROWE PRICE (TROW) |
12/09/2011 | Stifel Nicolaus | Downgraded | Buy | Hold |
| VALIDUS HOLDING (VR) |
12/09/2011 | Stifel Nicolaus | Upgraded | Hold | Buy |
| ESTERLINE TECHN (ESL) |
12/09/2011 | Stifel Nicolaus | Reiterated | Buy | |
| TIM PARTICP-ADR (TSU) |
12/09/2011 | Stifel Nicolaus | Initiated | Buy | |
| DUKE ENERGY CP (DUK) |
12/09/2011 | FBR Capital | Upgraded | Underperform | Mkt Perform |
| ENERGY XXI LTD (EXXI) |
12/09/2011 | KeyBanc Capital Mkts | Initiated | Buy | |
| PHARMACYCLICS (PCYC) |
12/09/2011 | Global Hunter Securities | Downgraded | Buy | Neutral |
| CHART INDUSTRIE (GTLS) |
12/09/2011 | Global Hunter Securities | Initiated | Accumulate | |
| MEMC ELEC MATRL (WFR) |
12/09/2011 | Collins Stewart | Upgraded | Neutral | Buy |
| INVESCO MORTGAG (IVR) |
12/09/2011 | FBR Capital | Downgraded | Outperform | Mkt Perform |
| PIER 1 IMPORTS (PIR) |
12/09/2011 | Oppenheimer | Reiterated | Outperform | |
| CONSTANT CONTAC (CTCT) |
12/09/2011 | Oppenheimer | Reiterated | Outperform | |
| ANALOGIC CORP (ALOG) |
12/09/2011 | The Benchmark Company | Reiterated | Buy | |
| SYNERGETICS USA (SURG) |
12/09/2011 | Wunderlich | Initiated | Buy | |
| TEXAS INSTRS (TXN) |
12/09/2011 | FBR Capital | Reiterated | Mkt Perform | |
| MEADWESTVACO CP (MWV) |
12/09/2011 | Robert W. Baird | Initiated | Outperform | |
| UTD STATIONERS (USTR) |
12/09/2011 | KeyBanc Capital Mkts | Initiated | Hold | |
| ACCO BRANDS CP (ABD) |
12/09/2011 | KeyBanc Capital Mkts | Initiated | Buy |
| Company | Date | Analyst | Action | From | To |
|---|---|---|---|---|---|
| SAFEWAY INC (SWY) |
12/09/2011 | Standpoint Research | Downgraded | Buy | Hold |
| CONNS INC (CONN) |
12/09/2011 | Caris & Company | Reiterated | Above Average | |
| SMITHFIELD FOOD (SFD) |
12/09/2011 | Deutsche Bank | Reiterated | Hold | |
| CIENA CORP (CIEN) |
12/09/2011 | Deutsche Bank | Reiterated | Buy | |
| ALTERA CORP (ALTR) |
12/09/2011 | Deutsche Bank | Reiterated | Hold | |
| SANDRIDGE ENRGY (SD) |
12/09/2011 | Deutsche Bank | Initiated | Hold | |
| WATSON PHARMA (WPI) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| WARNER CHIL PLC (WCRX) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| VERTEX PHARM (VRTX) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| TEVA PHARM ADR (TEVA) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| PAR PHARMA COS (PRX) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| PACIRA PHARMACT (PCRX) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| ONYX PHARMA INC (ONXX) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| MYLAN INC (MYL) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| MEDICIS PHARM-A (MRX) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| JOHNSON & JOHNS (JNJ) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| JAZZ PHARMACEUT (JAZZ) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| INCYTE CORP (INCY) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| HUMAN GENOME (HGSI) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| FOREST LABS A (FRX) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| DENDREON CORP (DNDN) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| CELGENE CORP (CELG) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| BIOGEN IDEC INC (BIIB) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| ARIAD PHARMA (ARIA) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| AMGEN INC (AMGN) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| ALLERGAN INC (AGN) |
12/09/2011 | Barclays Capital | Initiated | Equal Weight | |
| ALEXION PHARMA (ALXN) |
12/09/2011 | Barclays Capital | Initiated | Overweight | |
| ABBOTT LABS (ABT) |
12/09/2011 | Barclays Capital | Downgraded | Overweight | Equal Weight |
| MCDONALDS CORP (MCD) |
12/09/2011 | UBS | Reiterated | Buy | |
| JDS UNIPHASE CP (JDSU) |
12/09/2011 | UBS | Initiated | Buy |
In Play and On the Wires
Italian, Spanish, and French Yields Climb While German Yields Fall
Industrial Output in India Falls for the First Time in Over Two Years; Rupee Falls
Asian Markets Trade Mixed Overnight While Europe and U.S. Futures Fall
USO Puts in a Double Top
Hard to type 5 oil when there is massive debasement going on globally…but there may be a trade here.
Comments »Today’s Winners
No. Ticker % Change
1 DMND 52.66
2 FLOW 45.87
3 BCSI 43.59
4 MNI 34.88
5 SIGA 31.52
6 CXZ 22.86
7 ALXA 19.23
8 IGC 19.23
9 NWK 18.66
10 EXAM 16.96
11 AERG 16.86
12 COO 16.51
13 SMBL 16.36
14 HNSN 16.30
15 PIP 15.74
16 SWHC 14.71
17 AVTR 13.85
18 ZN 13.78
19 HHGP 13.75
20 DYN 13.64
21 SEAC 13.61
22 TBUS 13.60
23 IKAN 13.16
24 SPMD 12.90
25 GMXR 12.75
26 PSUN 12.75
27 ERII 12.70
28 MEG 12.60
29 LXRX 12.50
30 ECYT 12.27
31 KSWS 12.23
32 TECUA 12.06
33 PATK 11.94
34 PRTS 11.94
35 EDAP 11.63
36 CWTR 11.22
37 UPI 11.14
38 INFI 10.86
39 DGIT 10.86
40 MOBI 10.78
41 TNGN 10.47
42 AEN 10.32
43 LEE 10.29
44 AOI 10.25
45 CPTS 10.17
46 CGNX 10.15
47 SWC 10.11
48 ACHN 10.10
49 CNAM 10.10
50 SHEN 10.07
ALERT: DMND GOING NUTS TO THE UPSIDE
+30%. Short squeeze.
Comments »FLASH: Stocks Fall on European Jitters
Cautious commentary from the head of the European Central Bank set a dour tone on Wall Street even after data on the U.S. labor market topped expectations.
Today’s Markets
As of 10:13 a.m. ET, the Dow Jones Industrial Average fell 64 points, or 0.53%, to 12,132, the S&P 500 slumped 10.2 points, or 0.81%, to 1,251 and the Nasdaq Composite slid 16.9 points, or 0.64%, to 2,632.
Hopes that the ECB might enact a massive bond-buying program to ease yields on sovereign debt were dashed to some extent on Thursday. ECB head Mario Draghi said government bond purchases are limited to enacting monetary policy and that the European Union treaty technically restricts broader purchasing. He also said making such purchases by lending to the International Monetary Fund, a concept that has been widely discussed among analysts, would be legally challenging.
However, Draghi came short of explicitly making a ruling either way.
Financial shares, particularly investment banks like Morgan Stanley (MS: 16.34, -1.00, -5.77%), were hit the hardest on the back of the EU jitters. Basic material and energy shares were also down sharply as a result of strong selling in precious-metal and energy futures.
European blue chips fell 0.66% while the euro slid 0.66% to $1.3321.
In light of the growing economic headwinds created by the debt crisis, the ECB also said that it plans on taking on non-standard measures to buoy the economy. That move was initially seen as a positive, but then was quickly overshadowed by Draghi’s comments.
The central bank also sliced its main refinancing rate by a quarter percentage point to 1%. The rate move was largely anticipated, but markets were less sure if the ECB would take other actions.
European Union leaders are set to begin descending on Brussels on Thursday for a summit that is being billed by many analysts as crucial in staving off a collapse of the euro, a once unthinkable scenario.
The backdrop for the meeting is gloomy: Italian debt yields are less than half a percentage point away from the painful 7% level and in a sign of how real the worries are, the Wall Street Journal reported last night that several European central banks are making contingency plans in case they have to revert to their pre-euro currency. French President Nicholas Sarkozy also said on Thursday that time is running out against the single currency, and that there will be no second chances if a deal isn’t reached, according to a report by Reuters.
Traders are hoping for decisive action from European leaders to solve the debt debacle that is now in its second year, and has spread from periphery economies into the core of the European Union. One concept that has been discussed, according to media reports, is forcing closer fiscal ties between eurozone states in a bid to convince the ECB to launch a bond-buying program.
On the U.S. front, the weekly jobless claims report from the Labor Department topped expectations on Thursday morning. New claims for unemployment benefits fell last week to 381,000 from an upwardly revised 404,000 the week prior. Economists had expected a smaller drop to 395,000 from an initial reading of 402,000.
Energy markets were to the downside. The benchmark crude oil contract traded in New York fell $1.53, or 1.5%, to $98.97 a barrel. Wholesale RBOB gasoline fell 1.1% to $2.56 a gallon.
In metals, gold dropped $25.10, or 1.4%, to $1,721 a troy ounce. Silver was off 57 cents, or 1.7%, to $31.99 a troy ounce. U.S. government bond prices fell, pushing yields higher. The benchmark 10-year Treasury note yields 2.065% from 2.040%.
Foreign Markets
European blue chips fell 1.3%, the English FTSE 100 slid 0.33% to 5,528 and the German DAX sold off 1.3% to 6,918.
In Asia, the Japanese Nikkei 225 dropped 0.66% to 8,665 and the Chinese Hang Seng slipped 0.69% to 19,108.
Read more: http://www.foxbusiness.com/markets/2011/12/08/stocks-fall-on-european-jitters/#ixzz1fxh5y4dO
Comments »
