No. Ticker % Change
1 MRNA 23.16
2 SPU 20.75
3 JVA 19.64
4 NED 18.32
5 CSKI 16.03
6 FFN 15.64
7 MSHL 15.24
8 BPAX 13.84
9 MELA 13.39
10 ADLR 13.36
11 CRDC 12.80
12 DCTH 11.80
13 COMV 11.63
14 LOCM 11.57
15 GSVC 11.56
16 GBE 11.46
17 ARJ 11.21
18 HNSN 10.90
19 LEE 10.84
20 EFUT 10.52
21 GVP 10.23
22 GERN 9.63
23 FARM 9.57
24 PCYC 9.38
25 HOLI 9.31
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No. Ticker % Change
1 ONAV -51.58
2 XXIA -24.06
3 ARWR -19.64
4 ARX -17.60
5 ECPG -14.72
6 SMCG -14.57
7 SYMX -12.70
8 CNET -11.54
9 ALV -10.73
10 BLDR -9.84
11 GGR -9.52
12 GMR -9.48
13 BONA -9.05
14 ADAT -8.47
15 FTWR -8.39
16 BTFG -7.57
17 CNIT -7.45
18 CDTI -7.41
19 HIL -7.37
20 PEIX -7.21
21 CHOP -7.19
22 CBMX -7.14
23 REVU -7.04
24 MEG -6.69
25 TBUS -6.67
Monthly Archives: July 2011
Credit use rises
Comments »WASHINGTON (AP) — Americans borrowed more in May for the eighth straight month and used their credit cards more for only the second time in nearly three years.
The Federal Reserve says consumer borrowing rose $5.1 billion following a revised gain of $5.7 billion in April. Borrowing in the category that covers credit cards increased, as did borrowing in the category for auto and student loans.
The increase in credit card borrowing marked only the second monthly gain since August 2008. Since the financial crisis, consumers have been cutting back on the use of credit cards, which has depressed economic growth because it has held back consumer spending.
Wages fall
Comments »The downward spiral in wages is yet another sign of how troubled the jobs market is, economists said. And it will also slow the pace of the recovery since Americans won’t start buying more until they are earning more.
“It’s a symptom of how weak hiring is,” said Heidi Shierholz, an economist with the Economic Policy Institute, a left-leaning research group. “Employers know they don’t have to pay substantial wage increases to keep workers.”
Average weekly earnings last month fell to $788.56. It’s impossible to do exact inflation-adjusted comparisons with previous months until June’s inflation rate is released, but June’s earnings will be lower than they were in January 2010, Shierholz said.
MGM room rates on the rise
Comments »Investors are worried about the effects of a slowdown in Vegas on MGM International (MGM), but they need to take a deep breath, writes Morgan Stanley analyst Mark Strawn in a note initiating coverage of the company at Equal Weight.
Despite the Equal Weight rating, Strawn appears convinced that the shares are on their way up.
“We believe the share price will rise in absolute terms over the next 60 days. Based on a recent round of industry channel checks and our proprietary Las Vega room rate survey, we expect MGM’s recent share price momentum to continue through 2Q11 earnings in late July/early August,” he writes.
Although the third quarter tends to be seasonally slower in Vegas than the rest of the year, Strawn sees leisure room rates growing at a greater than 5% rate for MGM. Strawn expects the company to post strong EBITDA growth in the second and third quarters, with a strong possibility of beating analysts’ expectations.
“If our estimates are correct, this would mark the first consecutive quarters of EBITDA beats for MGM since the second half of 2007 and should drive continued share-price outperformance.”
Today’s ETF Winners
No. Ticker % Change
1 BXDC 7.27
2 SOXS 6.07
3 CVOL 5.21
4 RUSS 5.11
5 EDZ 5.05
6 TVIX 5.01
7 INDZ 4.93
8 LHB 4.85
9 SCO 4.80
10 DTO 4.69
11 DPK 4.39
12 FAZ 4.37
13 MWN 3.98
14 SIJ 3.75
15 SPXU 3.70
16 ERY 3.65
17 SQQQ 3.62
18 TMF 3.60
19 BGZ 3.58
20 EPV 3.54
21 TYP 3.53
22 DTYL 3.52
23 TVIZ 3.52
24 TYD 3.36
25 EEV 3.28
Link: President Obama Will Speak Live this a.m. About Job Numbers
Go here to see it.
Comments »FLASH: May Wholesale Inventories Up 1.8%…..Sales Down 0.2%
Fishy Imports
Goldman Sachs Addresses The Unemployment Numbers This Morning
Upgrades and Downgrades This Morning
Upgrades
HITK – Hi-Tech Pharmacal target raised to $35 from $30 on higher ests at Needham
ATPG – ATP Oil & Gas initiated with a Mkt Outperform at Rodman & Renshaw
AAPL – Apple ests and target raised to $500 at Canaccord Genuity
SNY – Sanofi-Aventis upgraded to Outperform from Market Perform at Bernstein
X – Jefferies initiates the U.S Steel industry
PHH – PHH Corp initiated with a Buy at Sterne Agee
WDC – Western Digital upgraded to Outperform from Sector Perform at FBN Securities
OCC – Ocwen Fincl initiated with a Buy at Sterne Agee
TAL – Tal International initiated with a Neutral at JP Morgan
Downgrades
BBVA – Banco Bilbao Vizcaya Argentaria downgraded to Market Perform from Outperform at Bernstein
WFR –
V- Visa target raised to $100 at Argus
JKS – JinkoSolar Holding upgraded to Buy from Sell at Goldman
SOL – ReneSola downgraded to Sell from Neutral at Goldman
COL – Rockwell Collins initiated with a Outperform at Wedbush
OCR – Omnicare downgraded to Neutral from Positive at Susquehanna
GERN – Geron initiated with an Overweight at JP Morgan
ARX – Aeroflex downgraded to Hold at Needham
SUNH – Sun Healthcare downgraded to Market Perform from Outperform at Wells Fargo
Comments »Gapping Up and Down This Morning
Gapping up
FTR +1.5%, AMLN +11.6%, MGM +1.8%, LOCM +18.7%, ALKS +6.1%, SNY +0.7%, GERN +4.8%, FCN +2.1%, CHK +3.8%, BA+1%, TJX +1.2%, APP +3.8%, AVL +3.2%, NFX +0.8%,
Gapping down
XXIA -15.3%, SVM -4.3%, MWE -3.4%, CREE -2.2%, DB -1.3%, STD -3.4%, RBS -2.9%, TS -2.5%, UBS -1.1%, LEDS -14.5%, MFLX -9.8%, FBR -7.2%,
In Play and On the Wires
Crazy Taste: Investors Get Screwed Country Wide Style
Non Farm Payrolls: Prior 54k, Mkt Expects 80-83k, Actual 18k…OUCH What a Miss…Futures Tank
Futures Nose Dive down 100 Dow Points
Only 57K private sector jobs.
Unemployment jumped to 9.2% from 9.1%
labor force shrank.
Average weekly hours fell to 34.3.
Average hourly earnings were flat, vs expectations of 0.0%.
Real unemployment rate is now 16.2%….i think it may even be higher
Comments »
German Exports Increase More Than Expected
Most Asian Markets Hang on to Gains; Some Pare Gains
European Markets Pare Gains Before U.S. NFP Data
Global Liquidity Crunch Hurt China’s Bond Sales for a 3rd Time This Year
Seems strange that this would occur given all the talk of China’s long term stability….despite liquidity issues.
Comments »Aussie and Kiwi Dollars Rise Again For Two Week Gains; Spurred by Global Rally
Seems like everything trades up or down together lately. Not normal to say the least.
Comments »
