Asia Traded Mixed Overnight While Europe and U.S. Futures Are Up a Full Percentage Point
A Day of Digestion For U.S. Equities
DOW down 25
NASDAQ up 5.8
S&P down 2.3
[youtube://http://www.youtube.com/watch?v=DDRPtg0kmJU 450 300]
This Morning’s Most Active Put/Call Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE BAC 1/21/12 7.5000 1824 0.0900 up 0.0100 BAC 12/17/11 6.0000 776 0.1000 dn 0.0200 AAPL 12/2/11 385.0000 670 1.7800 up 0.5200 BAC 12/17/11 7.0000 533 0.0300 up 0.0000 BAC 12/2/11 6.0000 501 0.0100 dn 0.0100 YHOO 12/9/11 17.0000 471 0.2700 dn 0.0700 BIDU 12/2/11 135.0000 423 0.6400 up 0.2000 AAPL 12/2/11 380.0000 369 5.1000 up 1.3500 AAPL 12/2/11 390.0000 339 0.4100 up 0.0700 AMZN 12/2/11 200.0000 251 0.7300 up 0.3600 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE SBUX 1/21/12 39.0000 465 0.7800 dn 0.1000 FAS 12/2/11 50.0000 400 0.0500 dn 0.1100 AAPL 12/2/11 380.0000 338 0.9000 dn 1.1400 BAC 12/17/11 5.0000 285 0.1500 dn 0.0200 AAPL 12/2/11 385.0000 227 2.5900 dn 2.0100 BAC 12/2/11 5.0000 212 0.0100 dn 0.0400 FCX 12/2/11 39.0000 210 0.3700 dn 0.0400 BAC 1/21/12 5.0000 193 0.4100 up 0.0100 BAC 12/17/11 6.0000 155 0.6700 dn 0.0300 AAPL 12/2/11 375.0000 152 0.3000 dn 0.5300 -VOLUME- CALLS PUTS TOTAL 37577 38602 76179Comments »
Today’s 52 Week Highs and Lows
NYSE
New Highs 58 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Alaska Air Grp ALK 71.35 74,163 AllianceBrnstn NtlMun AFB 14.47 11,837 Altria Group Inc MO 28.97 1,657,229 Ameren Corp AEE 33.96 175,793 BlkRk MuniHldgs CA Qlty MUC 14.63 19,648 BlRkMunyldQltyIII MYI 13.59 17,240 Brown Forman A BF/A 77.80 1,875 Carters CRI 40.29 59,723 DTE Energy DTE 52.83 84,701 DWS Strategic Muni Inco KSM 13.34 12,152 Dollar General DG 41.05 171,512 FMC Tech FTI 53.16 140,223 Fair Isaac FICO 36.72 14,673 GATX GMT 43.12 66,737 WW Grainger GWW 188.94 61,012 Group 1 Auto GPI 49.89 23,269 Invesco InsCa ICS 13.74 21,028 Invesco Insured Mun Tr IMT 15.33 7,525 Invesco NY Qty IQN 14.68 29,592 La-Z-Boy LZB 13.85 440,559 Macy's Inc M 33.00 1,135,456 Mastercard MA 377.93 136,832 McDonald's MCD 95.55 490,142 Mistras Group MG 24.12 19,383 Movado Group MOV 18.49 103,597 Nuveen CA Muni Value NCA 9.29 16,529 Nuveen Ins Muni Opport NIO 14.53 58,784 Nuveen Insured Premium NNF 15.34 11,235 Nuveen Invest Qual Muni NQM 15.17 16,042 Nuveen MI Quality Income NUM 14.32 5,493 Nuveen Muni Advantage Fd NMA 14.69 11,370 Nuveen NJ Premium Income NNJ 15.00 8,745 Nuveen NY Investment Qual NQN 15.15 8,461 Nuveen NY Select Quality NVN 15.17 9,602 Nuveen Performance Plus NPP 14.93 28,133 Nuveen Premium Inco Muni NPI 14.18 19,375 Nuveen Prem Inco Muni 2 NPM 14.61 41,268 Oneok Inc OKE 83.90 106,710 Oceaneering Intl OII 48.00 95,419 Oiltanking Partners LP OILT 29.33 2,705 Philip Morris Intl PM 76.95 721,929 Pinnacle West Capital PNW 47.46 63,673 Principl Finl Gp 6.518% B PFGpB 26.39 2,392 ProAssurance PRA 79.72 9,794 Provident Energy PVX 9.64 394,314 Reynolds American RAI 42.09 267,475 Scana Corp SCG 43.74 48,743 Southwest Gas SWX 40.72 13,019 TJX Cos TJX 62.90 454,361 Treehouse Foods THS 66.40 18,040 Triumph Group TGI 59.63 52,195 Tyson Foods TSN 20.35 313,508 UIL Hldgs UIL 35.07 37,516 Universal Corp UVV 47.60 18,393 Vector Group VGR 18.20 31,462 VISA (Cl A) V 97.34 788,947 World Fuel Svcs INT 43.15 50,304 Xcel Energy XEL 26.40 369,330 New Lows 8 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Cash Store Financial Svc CSFS 6.25 7,600 China Zenix Auto Intl ADS ZX 3.75 800 Exelis Inc. XLS 8.90 142,475 Feihe International ADY 3.62 10,342 Gildan Activewear GIL 16.66 2,213,836 Grubb & Ellis GBE 0.20 303,937 MarriottVacations VAC 15.76 68,345 Reddy Ice Holdings FRZ 0.46 69,873
NASDAQ
New Highs 27 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Ansys ANSS 62.19 59,041 Akorn AKRX 10.90 89,012 Arch Capital Grp ACGL 37.85 98,653 Atrion ATRI 243.21 112 Casey's General Stores CASY 54.01 29,644 Core Mark Hldg Co CORE 38.94 4,432 Costco Wholesale COST 87.35 770,032 Fastenal Co FAST 42.34 155,280 Fifth St Finance FSC 9.85 97,607 Halozyme Therapeutics HALO 9.51 53,493 Hibbett Sports HIBB 46.38 32,643 Inhibitex INHX 15.10 461,998 LKQ LKQX 31.25 88,477 Lancaster Colony LANC 70.79 13,294 Lincoln Electric Hldgs LECO 39.71 26,076 Magal Security Systems MAGS 4.95 159,951 Medivation MDVN 46.42 24,796 Natural Alternatives Intl NAII 8.99 4,879 OSI Systems OSIS 48.00 10,461 Panera Bread Co PNRA 144.50 35,549 Pool POOL 31.57 19,335 Ross Stores ROST 91.66 229,821 Spectrum Pharmaceuticals SPPI 14.00 130,941 Synageva BioPharma GEVA 17.63 100 Verisk Analytics Inc VRSK 39.37 127,048 ViaSat VSAT 47.99 22,900 ViroPharma VPHM 24.42 140,273 New Lows 25 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Array BioPharma ARRY 1.58 265,610 Autobytel ABTL 0.67 39,436 BOS Better Online Solns BOSC 0.81 300 BSD Medical BSDM 2.24 27,910 China Auto Sys CAAS 3.62 4,285 China Nuokang Bio-Pharma NKBP 2.32 19,934 China Sunergy Co CSUN 0.71 19,806 eOn Comm EONC 1.00 2,511 First Security Group FSGI 1.27 1,258 Forward Indus NY FORD 1.61 1,478 Francesca's Holdings FRAN 16.22 29,686 G Willi Food Intl Ltd WILC 4.27 573,238 iShs S&P/Citigrp Treas Bd ISHG 99.11 1,804 LookSmart LOOK 1.17 26,100 Lumos Networks LMOS 10.01 5,368 Macatawa Bank MCBC 2.20 2,860 Old Point Fincl OPOF 9.22 3,791 Pinnacle Airlines PNCL 1.91 6,716 Pure Bioscience PURE 0.37 64,236 SatCon Tech SATC 0.70 44,905 School Specialty SCHS 3.94 19,612 Shutterfly SFLY 26.59 337,828 Thermogenesis KOOL 0.85 2,625 Westinghouse Solar WEST 0.55 29,937 Zipcar ZIP 15.78 164,876Comments »
Today’s Money Flows, Heat Map, and A/D Line
Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
SPDR S&P 500 SPY ARCA 125.31 +270.6 2.07
Google GOOG NASD 609.44 +47.0 1.39
iShrs Russell 2000 IWM ARCA 73.93 +41.7 1.65
IBM IBM NYSE 187.69 +30.0 2.54
Intel INTC NASD 24.70 +20.3 2.30
Chevron CVX NYSE 102.46 +19.9 1.93
Microsoft MSFT NASD 25.34 +19.6 2.60
iShrs DJ Energy Sector IYE ARCA 40.60 +18.0 11.42
Johnson & Johnson JNJ NYSE 64.63 +15.5 2.18
Weight Watchers WTW NYSE 59.99 +15.1 13.34
Target Corp TGT NYSE 52.77 +12.2 1.58
Philip Morris Intl PM NYSE 76.73 +12.1 2.20
JPMorgan Chase JPM NYSE 30.61 +12.1 1.89
Oracle ORCL NASD 31.52 +11.5 2.62
ConocoPhillips COP NYSE 71.58 +11.0 2.19
Cisco Systems CSCO NASD 18.61 +10.9 2.33
General Electric GE NYSE 15.86 +10.3 1.64
Merck MRK NYSE 35.84 +10.3 3.08
ML Retail HOLDRS Tr 12/41 RTH ARCA 112.63 +10.3 3.49
American Express AXP NYSE 47.70 +10.2 3.30
ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Apple AAPL NASD 384.80 -44.7 0.84
ExxonMobil XOM NYSE 79.97 -21.4 0.58
Pfizer PFE NYSE 20.15 -20.2 0.36
Dow Chemical DOW NYSE 27.64 -18.2 0.16
AT&T T NYSE 28.80 -15.6 0.33
Costco Wholesale COST NASD 87.00 -15.6 0.42
Citigroup C NYSE 27.02 -15.0 0.64
Coca-Cola KO NYSE 67.43 -13.8 0.34
Abbott Labs ABT NYSE 54.42 -13.7 0.41
Procter & Gamble PG NYSE 64.60 -13.6 0.43
Wal-Mart Stores WMT NYSE 58.94 -11.8 0.50
Verizon Communications VZ NYSE 37.55 -11.7 0.38
Goldman Sachs GS NYSE 94.89 -11.1 0.63
Hewlett-Packard HPQ NYSE 28.18 -11.0 0.42
Union Pacific UNP NYSE 102.78 -10.9 0.46
Wells Fargo WFC NYSE 25.71 -10.7 0.49
SPDR Brclys Cap 13 Mo TBl BIL ARCA 45.83 -10.7 0.05
SPDR Gold Tr GLD ARCA 169.66 -10.4 0.73
McDonald's MCD NYSE 95.46 -10.4 0.44
Disney DIS NYSE 35.80 -9.9 0.44
Comments »
Repeat Foreclosures @ 45%, Foreclosure Inventories Hit All time Highs, and Delinquencies are down 30%
Top Ten Insider Buys and Sells for the Last Thirty Days
TOP 10 LARGEST SALES IN LAST 30 DAYS
| SYMBOL | COMPANY | AMOUNT |
|---|---|---|
| DNKN | DUNKIN BRANDS GROUP INC | $1,179.86 Mil |
| WFM | WHOLE FOODS MARKET INC | $542.07 Mil |
| ATVI | ACTIVISION BLIZZARD INC | $429.36 Mil |
| LNKD | LINKEDIN CORP | $320.13 Mil |
| NDRO | ENDURO ROYALTY TRUST | $290.40 Mil |
| CNK | CINEMARK HOLDINGS INC | $204.18 Mil |
| VGR | VECTOR GROUP LTD | $191.85 Mil |
| TGI | TRIUMPH GROUP INC DE | $188.47 Mil |
| AN | AUTONATION INC DE | $162.79 Mil |
| MGI | MONEYGRAM INTERNATIONAL INC | $139.86 Mil |
TOP 10 LARGEST PURCHASES IN LAST 30 DAYS
| SYMBOL | COMPANY | AMOUNT |
|---|---|---|
| CLVS | CLOVIS ONCOLOGY INC | $292.04 Mil |
| VGR | VECTOR GROUP LTD | $109.74 Mil |
| JEF | JEFFERIES GROUP INC NEW | $52.55 Mil |
| FUN | CEDAR FAIR L P | $33.80 Mil |
| IMPV | IMPERVA INC | $22.10 Mil |
| GHDX | GENOMIC HEALTH INC | $19.93 Mil |
| CCMO | CC MEDIA HOLDINGS INC | $17.04 Mil |
| NLNK | NEWLINK GENETICS CORP | $15.11 Mil |
| TPCA | TROPICANA ENTERTAINMENT INC | $12.84 Mil |
| APEI | AMERICAN PUBLIC EDUCATION INC | $12.65 Mil |
Feedback
MORE INVESTING INFORMATION
Most Active Pre-Market Trades
Gapping Up and Down This Morning
Gapping up
LAVA +26.7%, TSPT +14.3%, USG +1%, AMR +7.8%, YHOO +4.4%, CWTR +4.2%, NVS +1.9%, LCC +5.9%, SNPS +1.5%,
DIS +1.3%, NVS +2.3%, TEVA +2.1%, TASR +1.3%, SNY +1.2%, AZN +0.4%, TSPT +22.9%, VALE +1.5%, MT +0.9%,
SLV +0.8%, TD +0.8%, LTD +3.2%, SNPS +1.5%, CWTR +10%, MOV +9.3%,
Gapping down
BCS -3.6%, NYMT -3.5%, RUE -3.5%, ROIC -3.2%, ARO -1.7%, RCL -1.3%, ING -1.2%, STNG -13.7%,
SMTC -4.5%, HEP -3.6%, ROIC -3.2%, KKD -3.2%, PLOW -3.1%, UBS -3%, FNSR -2.4%, ING -1%, DB -0.4%,
GIL -16.2%, LULU -11.5%, SMTC -4.5%, FNSR -3.5%, RUE -3.5%, TGT -2.8%, GES -1.8%, ARO -1.4%, EXPR -0.4%,
Comments »Upgrades and Downgrades This Morning
Upgrades
STX – Seagate Tech upgraded to Buy at Argus
FCN – FTI Consulting initiated with a Outperform at Northland Securities
AGN – Allergan upgraded to Buy at Argus
HURN – Huron Consulting initiated with a Outperform at Northland Securities
MGI – Moneygram initiated with an Outperform at JMP Securities
USG – USG upgraded to Outperform from Sector Perform at RBC Capital
HPQ – Hewlett-Packard upgraded to Sector Perform from Underperform at Pacific Crest
DOLE – Dole Food initiated with a Buy at Auriga
IRF – Intl Rectifier upgraded to Outperform from Market Perform at JMP Securities
CQB – Chiquita Brands initiated with a Buy at Auriga
EXPR – Express target raised to $29 at Brean Murray
ABVT – Abovenet initiated with an Overweight at Piper Jaffray
CAS – A.M. Castle initiated with a Buy at Auriga
AWAY – HomeAway upgraded to Outperform from Sector Perform at Pacific Crest
LCC – US Airways upgraded to Overweight from Equal Weight at Barclays
DLLR – Dollar Financial added to Top Picks List at FBR Capital
CRS – Carpenter Tech initiated with a Buy at Auriga
WPI – Watson Pharm initiated with a Hold at Jefferies
Downgrades
SCHN – Schnitzer Steel initiated with a Hold at Auriga
PG – Procter & Gamble upgraded to Outperform from Sector Perform at RBC Capital
OZRK – Bank of the Ozarks downgraded to Hold at Wunderlich
TUP – Tupperware downgraded to Neutral from Buy at Suntrust
ONXX – Onyx Pharma downgraded to Neutral from Buy at BofA/Merrill
SPB – Spectrum Brands downgraded to Neutral from Buy at Suntrust
WOR – Worthington initiated with a Hold at Auriga
TEVA – Teva Pharma downgraded to Neutral from Buy at Suntrust
UNM – Unum Group downgraded to Neutral from Buy at Suntrust
WBMD – WebMD Health downgraded to Neutral from Outperform at Cowen
PNM – PNM Resources downgraded to Neutral from Buy at Suntrust
FNSR – Finisar target lowered to $27 at Stifel Nicolaus
FDP – Fresh Del Monte initiated with a Hold at Auriga
VAC – Marriot Vacations initiated with a Hold at Deutsche Bank
Comments »In Play and On the Wires
Initial Claims: Prior 393k, Market Expects 390k, Actual 402k
Same Store Sales Come in For Select Retailers
Macy’s +4.8% vs consensus4.3%
GAP -5% vs consensus 4.3%
Costco +9% vs consensus of 6.5%
Target +1.8% vs consensus 2.8%
Comments »Curbs Take Down Home Prices in China for a 3rd Month in a Row
Prices fell in 57 of 100 cities polled. They dropped .28% after a .23% drop in October.
Comments »Asia Moves Higher, But Does Not Rip Tits; Europe Trades Mixed While U.S. Futures are Unch
FLASH: The Heng Seng Roars 900 Points On Open
+5.15% rippage.
Comments »FLASH: ASIAN MARKETS LOVE LONGS LONG TIME
Asian shares joined in a global rally Thursday, soaring early as investors welcomed central banks’ coordinated moves to ease dollar credit costs in Europe, as well as monetary easing in China.
Japan’s Nikkei Stock Average JP:NIK +2.21% climbed 2.4%, while South Korea’s KospiKR:0100 +3.77% climbed 3.4% and Australia’s S&P/ASX 200 index AU:XJO +2.48% jumped 2.4%.
U.S. and European stocks ended Wednesday with strong gains, with the Dow Jones Industrial Average DJIA +4.24% rising by the largest margin since 2009. Read more on U.S. stock market action.
The Dow notched its largest gain since March 2009, as central banks announced a plan to make dollar funding cheaper for European banks.
The U.S. Federal Reserve and the central banks of the euro area, Canada, the U.K., Japan and Switzerland announced Wednesday that they had agreed to reduce the cost of offering dollar financing through swap arrangements.
“As Europe dithered, monetary policy makers acted, even if their ‘actions’ have more symbolism than significance,” said strategists at RBC.
“Markets breathed a huge sigh of relief,” they said.
As the risks to global funding markets diminished, banks moved higher, with Westpac Banking Corp. AU:WBC +2.67% WEBNF +7.65% up 2.4%, and National Australia Bank Ltd.AU:NAB +2.61% NAUBF +4.59% up 2.1%.
In Japan, Mitsubishi UFJ Financial Group Inc. JP:8306 +3.35% MTU +3.60% jumped 4%, and Nomura Holdings Inc. JP:8604 +3.23% NMR -0.89% climbed 4.8%.
Meanwhile, commodity futures surged in New York after the People’s Bank of China cut its reserve requirement ratio for large banks by 50 basis points, to 21%, effective Dec. 5.
Commodity-linked stocks climbed sharply, with Rio Tinto Ltd. AU:RIO +4.53% RIO +0.58% up 4.7%, BHP Billiton Ltd. AU:BHP +4.12% BHP -1.56% climbing 4.2% and Fortescue Metals Group Ltd. AU:FMG +5.51% FSUMY +3.80% jumping 4.1% in Australia.
Steel makers surged in Japan, with JFE Holdings Inc. JP:5411 +6.05% [ JFEEF +4.41% , up 6.1%, and Nippon Steel Corp. JP:5401 +4.92% NISTF +6.12% adding 4.9%.
China’s move marked the first time the central bank had cut the reserve ratio for such lenders since December 2008, and followed a modest easing for small rural lenders last month.
“The move will ease constraints on bank lending — the level of excess reserves had dropped very low. Specifically, the cut has the same impact on banks’ ability to lend as the injection of $63 billion of base money,” said Mark Williams, chief Asia economist, at Capital Economics.
Hong Kong-based economists at Nomura said that the fact the central bank eased policy wasn’t surprising, but added that the timing was unexpected, with Nomura having expected such a cut in January.
“The need for coordinated policy action with other central banks may have triggered the reserve requirement ratio cut. We believe the fact that the [required reserve ratio] cut occurred [Wednesday], together with actions from other major central banks, did not happen by chance,” they said.
Adding to the positive tone for Asian markets, data out from the U.S. continued its recent strong run, with a private-sector employment report showing a rise of 206,000 jobs in November, the biggest jump since last December last year. See report on private-sector employment data.
Comments »
Over 300 Stocks Were Up Over 10% Today
Here were some of the big winners.
No. Ticker % Change
1 ZOLT 43.11
2 AATI 32.26
3 LAVA 30.09
4 CYDE 28.95
5 AMR 24.85
6 GLCH 24.51
7 AVL 24.35
8 JRCC 22.11
9 PGNX 20.86
10 TPCG 20.22
11 PZN 20.19
12 HSOL 20.17
13 GENE 20.00
14 PCX 19.93
15 SRI 19.28
16 ZOOM 18.99
17 EVC 18.94
18 MBI 18.73
19 MBLX 18.55
20 OMER 18.54
21 JASO 18.18
22 SURW 18.09
23 TECUA 18.04
24 FENG 18.04
25 MOC 17.99
26 STVI 17.97
27 SGMO 17.97
28 AEN 17.94
29 FOLD 17.92
30 XFN 17.86
31 JKS 17.83
32 SEH 17.68
33 EEE 17.24
34 ENZ 17.22
35 BID 17.04
36 CPHI 16.88
37 ERII 16.67
38 CSIQ 16.60
39 PNX 16.45
40 LEAP 16.39
41 PDC 16.10
42 ZEP 16.05
43 STRL 15.86
44 INFI 15.82
45 IVAC 15.79
46 TSL 15.77
47 FBNC 15.71
48 SNBC 15.70
49 ANR 15.64
50 AAWW 15.50
A Leviathan Short Covering Rally Neuters the Bears
The markets blasted off today on the announcement that central banks will cut overnight lending rates by 50 basis points. We also had some decent data today.
What is unique is the fed will offer liquidity swaps in multiple currencies. The measures are only temporary. Very interesting commentary can be found here from JPM.
Anyone notice momo stocks hardly gained today?
We also did less than a billion share on the NYSE….i know call me a bear.
Any way i thank the clam for giving me all my money back.
Sometimes it is good to be 100% cash. Perhaps we rally up to 1265 -1270 S&P, (200 ma,) and then we will TZA this clam inspired hokus pokus.
DOW UP 473
NASDAQ UP 104
S&P UP 51
