Monthly Archives: January 2012
Telecom stocks have made a sudden swing higher. Collectively, they are now at their best level of the day, sporting a 0.3% gain, which makes them the best performing sector of the session. The move by telecom comes as integrated plays AT&T (T 29.26, +0.10) and Verizon (VZ 37.49, +0.28) garner support after finishing trade on Friday at weekly lows. Last week each company posted earnings that came short of the consensus.
Stocks are off of session lows, but weakness persists. The action has stoked volatility, such that the Volatility Index is up about 6% to almost 20. Earlier this morning the VIX managed to clear 20 for the first time in little more than a week. The average level for the VIX this month is only narrowly north of 21.
Manufacturing activity and general business sentiment in the southwest smashed expectations, the Dallas Federal Reserve announced this morning.
The general business index surged to 15.3, topping analyst forecasts for a 1.5 reading, and above December’s -0.3.
Those expectations were steadily rising over the past several days, with the median target for the index increasing from zero on Friday, to 0.5 earlier this morning.
“Perceptions of broader economic conditions were notably more positive in January,” the Federal Reserve said in a statement. “Nearly a quarter of manufacturers noted improvement in the level of business activity, while nine percent noted a worsening. The company outlook index also increased markedly, rising from 5 to 13.5. Both indexes reached their highest readings in 10 months.”
The new orders sub-index jumped to a six month high, at 9.5, and reversed two months of negative readings.
Labor demand also increased in January, as employees saw workweeks grow longer as hiring trends perked up in the region. Twenty-one percent of firms polled by the Fed said they took on new workers, while nine percent said they initiated layoffs.
The eleventh district includes activity in Texas, northern Louisiana, and southern New Mexico. The Dallas Fed will next release manufacturing data on Feb. 27.
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO (in millions) Apple AAPL NASD 447.85 +55.8 1.27 Intuitive Surgical ISRG NASD 455.57 +36.2 6.55 Bank Of America BAC NYSE 7.11 +30.2 1.95 Oracle ORCL NASD 28.15 +26.6 4.89 Thomas & Betts TNB NYSE 71.00 +20.7 1.65 IBM IBM NYSE 190.46 +18.8 1.83 General Electric GE NYSE 18.76 +16.4 2.41 Microsoft MSFT NASD 29.11 +15.1 1.93 McDonald's MCD NYSE 98.12 +12.4 1.73 Netflix NFLX NASD 126.85 +11.8 1.11 Temple-Inland TIN NYSE 31.87 +11.6 5.17 Hewlett-Packard HPQ NYSE 27.69 +11.2 2.48 Chevron CVX NYSE 102.39 +11.0 1.39 Morgan Stanley MS NYSE 18.59 +10.1 1.56 Procter & Gamble PG NYSE 63.34 +9.8 1.51 Merck MRK NYSE 38.37 +9.8 2.23 Qualcomm QCOM NASD 57.44 +9.4 1.66 Johnson & Johnson JNJ NYSE 65.43 +8.5 1.95 JPMorgan Chase JPM NYSE 36.57 +8.4 1.53 iShrs Russell 2000 Growth IWO ARCA 90.35 +8.2 4.08 ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO (in millions) iShrs Russell 2000 IWM ARCA 78.85 -129.8 0.21 Google GOOG NASD 575.35 -32.6 0.68 Taiwan Semi Mfg TSM NYSE 13.85 -24.6 0.06 ExxonMobil XOM NYSE 84.85 -18.8 0.55 Celgene CELG NASD 71.87 -16.5 0.39 Citigroup C NYSE 30.44 -16.2 0.61 Intel INTC NASD 26.31 -15.2 0.54 AT&T T NYSE 29.06 -13.7 0.49 Time Warner TWX NYSE 36.93 -13.7 0.22 SPDR S&P BRIC 40 BIK ARCA 24.49 -12.2 0.00 Charles Schwab SCHW NYSE 11.38 -11.8 0.10 Baidu BIDU NASD 128.31 -10.7 0.84 Abbott Labs ABT NYSE 54.37 -10.5 0.49 PwrShrs QQQ Tr Series 1 QQQ NASD 59.83 -10.1 0.68 Select Sector SPDR-Energy XLE ARCA 70.39 -10.0 0.50 Altria Group Inc MO NYSE 28.32 -9.9 0.34 EMC Corp EMC NYSE 25.67 -9.8 0.46 Halliburton HAL NYSE 36.20 -8.5 0.57 Freeport McMoran FCX NYSE 45.34 -8.4 0.69 Sina SINA NASD 69.17 -7.9 0.84Comments »
New Highs 13 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ BlackRockMuni BLE 15.73 6,017 BlkRk MuniVest MVF 10.96 19,103 Cheniere Energy LNG 12.90 1,927,777 Eaton Vance Mun Bd Fd EIM 13.25 19,772 Eatn Vnc NY Muni NYH 14.39 1,623 Invesco VK Adv Mun II VKI 13.30 10,006 Invesco VKSelSect VKL 13.12 4,355 NuveenCA 3 NZH 13.80 9,664 Nuveen Div Adv NZF 15.06 45,892 Nuveen CA NKL 16.75 9,022 Nuveen Maryland NFM 14.76 1,750 Nuveen MI Div Adv NZW 14.11 200 Saga Commun SGA 41.45 392 New Lows 0 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------
New Highs 75 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Advance Auto Parts AAP 76.97 125,168 AllianceBrnstn NtlMun AFB 15.60 17,851 Amer Muni Income Ptf XAA 15.18 897 Assd Banc-Corp.8.00%Pfd ABWpB 25.54 1,800 BlRk Cr Alloc Inco Tr IV BTZ 12.92 24,137 Blackrock Invest BKN 16.26 7,552 BlackRock Long-Term Muni BTA 12.46 10,044 BlkRk Muni Inter Dur MUI 16.37 12,223 BlkRk MuniAssets Fd MUA 13.04 5,000 BlackRock Muni Bnd BIE 16.44 4,537 BlackRock Municipal Trust BFK 15.02 13,128 BlkRk MuniHldgs CA Qlty MUC 15.36 11,738 BlkRk MuniHldgs II MUH 16.54 6,241 BlkRk MuniHldgs MHD 17.95 5,703 BlkRk MuniHldgs Inv MFL 15.09 18,672 BlRk MuHldg NY Qlty MHN 15.53 12,946 BlkRk MuniVest II MVT 16.50 7,112 BlkRk MuniYld CA Quality MCA 15.13 18,991 BlkRk MuniYield MYD 15.33 52,683 BlkRk MuniYld NJ Fd MYJ 15.84 5,917 BlRk Muyld NJ Qlty MJI 15.97 3,323 BlkRk MuniYld Quality MQY 16.33 10,382 BlkRk MuniYld Ins Qlty MFT 14.79 3,498 BlkRk Cr Alloc Tr I PSW 9.64 4,944 Blackrock Strategic Muni BSD 14.37 309 Citizens Fdg Tr I 7.50% CTZpA 25.65 100 Cutwater Select Incm Fd CSI 19.30 1,921 DWS Muni Inco KTF 14.07 12,963 Dreyfus Strategic Munis LEO 9.23 19,523 DTF Tax-Free DTF 16.72 6,100 Duke Realty pfL DREpL 25.01 1,427 Fed Premier Intemediate FPT 15.03 4,252 First Tr Strat High Fd II FHY 16.30 8,974 Guidewire Software GWRE 18.44 31,426 Healthspring HS 54.98 77,666 Hubbell A HUB/A 74.00 3,691 Hubbell B HUB/B 74.44 102,941 Invesco CA Mun Secs ICS 15.30 3,502 Invesco VnKmCAInc VCV 13.75 8,356 Invesco Van Kampen Mun Tr VKQ 14.76 18,538 Invesco VK PAValMun VPV 14.54 17,031 Inv Vn Km Inv Grd VGM 15.48 13,010 Invesco VnKmNY VTN 15.81 2,585 Invesco VK Tr Val Mun VIM 14.41 3,242 MFS Hi Inc Muni CXE 5.52 29,531 Maiden Hldg NA 8.25% 2041 MHNA 25.67 1,400 Mangd Durtn InvGr Mun Fd MZF 15.40 10,012 Nuveen CA Div Fnd NAC 14.84 11,779 Nuveen CA Investment NQC 15.59 3,312 Nuveen CA Muni Mkt NCO 15.35 3,728 Nuveen CA Performance NCP 15.38 4,910 Nuveen CA Quality Income NUC 16.00 10,276 Nuveen California Select NVC 15.99 12,997 Nuveen Insured CA Muni 2 NCL 16.02 6,705 Nuveen Invest Qual Muni NQM 16.09 12,014 Nuveen Mich Premium Inc NMP 14.71 1,371 Nuveen Mun Opportunity Fd NIO 15.05 17,425 Nuveen Muni Value Fund NUV 10.08 11,407 Nuveen NJ Premium Income NNJ 15.70 2,789 Nuveen NY Select Quality NVN 16.05 6,177 Nuveen Ohio Qual Income NUO 17.35 1,425 Nuveen Pa Premium Inc 2 NPY 14.39 4,992 Nuveen Premium Inco Muni NPI 14.74 17,320 Nuveen Prem Inco Muni 2 NPM 15.26 58,724 Nuveen Prem Inco Muni 4 NPT 13.94 11,149 Nuveen Quality Income NQU 15.30 26,230 Nuveen Select Quality NQS 15.77 60,126 Nuveen Sel 3 NXR 14.60 2,277 Pep Boys PBY 15.00 6,978,553 PIMCO Muni Inc III PMX 12.30 32,090 PimcoNY Fd PYN 10.39 903 Rentech Nitrogen Ptrs LP. RNF 23.05 25,702 Sturm Ruger RGR 40.25 32,334 Thomas & Betts TNB 71.31 4,088,707 Wstrn Asset Muni Ptnrs Fd MNP 16.00 3,338 New Lows 6 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Cellcom Israel CEL 14.20 99,545 Inergy LP NRGY 17.01 1,110,814 Portugal Telecom PT 5.09 160,100 Quad/Graphics QUAD 11.25 108,011 Ralcorp Holdings Inc. Wi RAHw 74.76 2,400 TelItalia ADS A TI/A 8.36 5,695Comments »
Distalate use the highest in 4 years
Gasoline consumption the lowest since 2010
November gasoline use @ 11 year low
Kindly refer to my 2012 predictions, a.k.a. “future history.”
Irish people are going to be very pissed they agreed to do things the right and noble way. Probably furious enough to blow a hole in European fiscal union…
DUBLIN (Reuters) – It would be difficult for Ireland to remain in the euro zone if its voters rejected a proposed new fiscal treaty, its European Affairs minister said on Monday, raising the stakes in a political battle over whether to put the plan to a referendum.
European leaders are expected to agree to tighten budget rules on Monday, seeking to regain market confidence in the public finances of the 17 countries sharing the euro after three, including Ireland, had to seek international bailouts in a crisis that now threatens major economies such as Italy.
Irish citizens have twice rejected changes to EU treaties before voting through amended versions.
“It would be a very sad day if we somehow decided to opt out of that (new treaty) and allowed the other 16 members of the euro zone to progress and try to find a solution without us,” junior minister Lucinda Creighton told state broadcaster RTE.
“I think it would make it almost impossible for us to continue as part of the currency union because being part of a currency union means you have to abide by the rules,” Creighton said.
The government has rubbished opposition suggestions that Ireland should leave the euro zone rather than continue to endure savage spending cuts, saying an exit would have catastrophic consequences for the economy.
Ministers have indicated they would prefer to avoid a referendum on the treaty fearing it would be rejected in a backlash against austerity.
Creighton said the government was happy with the treaty in its current draft.
Amylin Pharmaceuticals Inc. (AMLN) and Alkermes Inc. (ALKS) : The drugmakers succeeded in their third attempt to gain U.S. clearance for Bydureon, a once-weekly version of Amylin’s diabetes shot. The Food and Drug Administration approved the drug for adults with Type 2 diabetes.
Amylin surged 12 percent to $13.62, and Alkermes rose 15 percent to $22.
Cliffs Natural Resources Inc. (CLF) retreated 1.1 percent to $72.25. The iron-ore miner may rise to as high as $115 per share within the next year as it increases production overseas to meet growing demand for infrastructure, Barron’s reported.
Coach Inc. (COH) : The retailer may rise to as high as $80 per share in the next year as demand for luxury handbags and accessories increases, Barron’s reported, citing Omar Saad, analyst at International Strategy & Investment Group.
Delta Air Lines Inc. (DAL) : The carrier is weighing whether to make an offer for US Airways Group Inc. (LCC) , the smallest full-service domestic carrier. US Airways confirmed earlier this month it’s evaluating a possible merger with American Airlines parent AMR Corp. (AAMRQ US) in bankruptcy. TPG Capital and Delta also are evaluating possible bids for American, people with knowledge of the matter have said.
US Airways advanced 5.3 percent to $8.61.
El Paso Corp. (EP) : The company is in advanced talks to sell its oil-exploration unit to a group led by private equity firm Apollo Global Management LLC (APO) (APO US) for about $7 billion, the Wall Street Journal reported, citing unidentified people.
Jarden Corp. (JAH) : The maker of Mr. Coffee brewers may stall after a 22 percent rally since last summer and the suspension of its dividend to focus on share buybacks, Barron’s reported, without citing anyone.
Momenta Pharmaceuticals Inc. (MNTA) rose 3.4 percent to $15.70. The owner of patents on the blood-thinner Lovenox will replace HealthSpring Inc. (HS) in the Standard & Poor’s SmallCap 600 Index after the close of trading on Jan. 31. The change is being made because Cigna Corp. (CI) is acquiring HealthSpring in a deal expected to be completed today.
Omnicom Group Inc. (OMC) slipped 2.9 percent to $45.15. The owner of advertising agencies was lowered to “market perform” from “outperform” by Daniel Salmon, an equity analyst at BMO Capital Markets, with a 12-month price estimate of $49.
PharMerica Corp. (PMC) fell 13 percent to $12.50. U.S. regulators sued Omnicare Inc. (OCR) to block its $440.8 million takeover of the drug-supply company, a deal they said would increase prices for elderly nursing-home residents covered by Medicare.
Research In Motion Ltd. (RIM) : The BlackBerry maker has held talks with competitors about licensing its new software, Chief Executive Officer Thorsten Heins said. Handset and PC makers approached RIMM about the licensing, the CEO said, without identifying them.
Thomas & Betts Corp. (TNB US) surged 22 percent to $70.90. ABB Ltd. agreed to buy the designer and maker of electrical components for $3.9 billion to expand its North American distribution network and boost sales of low-voltage gear. ABB offered $72 for each share of Thomas & Betts, 24 percent more than the close on Jan. 27.
U.S. Steel Corp. (X) declined 2.6 percent to $29.11. The steel company plans to sell U.S. SteelSerbia d.o.o. to Serbia for a nominal purchase price and to take a non-cash charge of $400 million to $450 million in the first quarter.
Wendy’s Co. (WEN) (WEN US) fell 2.1 percent to $5.10. The restaurant chain said earnings before income, taxes, depreciation and amortization in 2012 will be no more than $345 million, excluding some items, compared with the average analyst estimate of $353.1 million.
Yum! Brands Inc. (YUM) (YUM US): The owner of Pizza Hut and Taco Bell is focusing on faster-growing markets including China and India for revenue expansion while selling U.S. stores to franchises, Barron’s reported, citing an interview with Chief Executive Officer David Novak.Comments »
Advanced Auto Parts Inc. (NYSE: AAP) Raised to Buy at Goldman Sachs.
AutoZone, Inc. (NYSE: AZO) Raised to Buy at Goldman Sachs.
Bank of America Corporation (NYSE: BAC) Cut to Neutral at Goldman Sachs.
Citigroup , Inc. (NYSE: C) Raised to Buy at Goldman Sachs.
HollyFrontier Corporation (NYSE: HFC) Cut to Neutral with $27 target at Citigroup.
ImmunoGen Inc. (NASDAQ: IMGN) Reiterated Buy with $17 target at Canaccord Genuity.
JAKKS Pacific (NASDAQ: JAKK) Cut to Underperform as Bear of the Day at Zacks.
J.P. Morgan Chase & Co. (NYSE: JPM) Maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Kellogg Co. (NYSE: K) Cut to Neutral at JPMorgan.
Key Energy Services (NYSE: KEG) Maintained Buy but raised estimates ($19 target) at Canaccord Genuity.
Methanex Corporation (NASDAQ: MEOH) named as Value stock of the day at Zacks.
Monster Beverage Corporation (NASDAQ: MNST) Cut to Neutral at SunTrust.
Morgan Stanley (NYSE: MS) Raised to Conviction Buy list at Goldman Sachs.
Mylan, Inc. (NASDAQ: MYL) Raised to Outperform as Bull of the Day at Zacks.
Staples Inc. (NASDAQ: SPLS) Cut to Sell at Goldman Sachs.
Time Warner Inc. (NYSE: TWX) Cut to Equal-Weight at Barclays.
Whole Foods Market. Inc. (NASDAQ: WFM) Maintained Buy but removed from Conviction BUy List at Goldman Sachs.
AMLN +15.9%, ALKS +4.7% , HNP +1.9%, TNB +22.4% , MNTA +3.6%, LCC +7.3%, GTXI +14.2%, REGN +1.7% ,
BNVI -38.5%, CTIC -16.5%, PMC -9.1%, DB -4.1%, BCS -2.8%, BAC -2.5%, SLV -2.3%, HBC -1.7%, CLNE -1.5%, GOLD -1.4%, GLD -1.1%, C -1%, SPLS -1.2% ,
MT -4.4%, GFI -2.5%, AG -2.1%, ABX -1.8%, SLV -1.5%, HMY -1.4%, GOLD -1.4%, GLD -1.1%, DB -4.8%, ING -3.9%, BCS -3.2%, UBS -2.1%, HBC -2.1%, JPM -1.2%,
SIFY -3.2%, PHG -2.5%,Comments »