Monthly Archives: March 2012
New Home Purchases Fall for a Second Month
UPDATE: Apple Resumes Trading After Halt; Now Up 55 Points @ $597.57
Developing…
Comments »FLASH CRASH in Apple’s Stock; Stock Halted
“Apple shares where halted due to volatility.
The stock crashed down to $542.80 before trading was stopped.
Apparently it was…”
Comments »FLASH: $AAPL FLASH CRASHES AND IS HALTED PER CIRCUIT BREAKER
Americans Consistently Pump Less Gas Every Week for the Past Year
TVIX Down Another 20% Despite Efforts by Credit Suisse to Stabilize Full Retard Action
Today’s Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO (in millions) Michael Kors Holdings KORS NYSE 47.11 +31.1 1.84 UltraPro Short S&P 500 SPXU ARCA 9.41 +30.0 11.06 Bank Of America BAC NYSE 9.57 +27.9 1.41 iPath SP 500 VIX Mid Tm VXZ ARCA 49.85 +14.0 17.47 Citigroup C NYSE 37.10 +12.2 1.37 Google GOOG NASD 644.57 +12.1 1.21 Microsoft MSFT NASD 31.90 +11.2 1.68 Intel INTC NASD 27.79 +11.1 2.18 ExxonMobil XOM NYSE 85.33 +10.9 1.93 Atmel ATML NASD 10.47 +10.8 8.49 IBM IBM NYSE 204.91 +10.3 1.50 SPDR S&P 500 SPY ARCA 139.00 +10.3 1.08 Home Depot HD NYSE 49.17 +9.0 2.26 CF Ind Hldgs CF NYSE 184.82 +8.2 1.58 Apple AAPL NASD 598.75 +8.1 1.02 Goldman Sachs GS NYSE 125.71 +8.1 1.28 Coca-Cola KO NYSE 71.51 +8.0 2.52 Vipshop Holdings ADS VIPS NYSE 5.94 +7.4 6.58 Whiting USA Trust II WHZ NYSE 23.00 +6.6 1.64 Chevron CVX NYSE 105.63 +6.5 1.45 ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO (in millions) PwrShrs QQQ Tr Series 1 QQQ NASD 66.77 -16.7 0.53 JPMorgan Chase JPM NYSE 44.78 -16.5 0.59 McDonald's MCD NYSE 95.44 -10.2 0.58 Wal-Mart Stores WMT NYSE 60.65 -9.9 0.35 pricelinecom PCLN NASD 714.09 -9.5 0.82 Baidu BIDU NASD 142.70 -8.0 0.87 Procter & Gamble PG NYSE 67.39 -7.8 0.41 General Electric GE NYSE 19.78 -7.7 0.50 Oracle ORCL NASD 28.73 -7.6 0.62 iShrs Russell 2000 IWM ARCA 81.71 -7.5 0.79 Qualcomm QCOM NASD 65.83 -7.5 0.55 AT&T T NYSE 31.61 -6.7 0.51 Discover Fnl Svcs DFS NYSE 32.48 -6.7 0.45 lululemon athletica LULU NASD 75.20 -6.6 0.65 Darling Intl DAR NYSE 17.69 -6.6 0.04 Freeport McMoran FCX NYSE 38.23 -6.0 0.76 Wells Fargo WFC NYSE 33.47 -6.0 0.62 ConocoPhillips COP NYSE 75.92 -5.7 0.58 Pfizer PFE NYSE 21.82 -5.6 0.38 iShs Tr S&P Glbl Engy Sec IXC ARCA 39.80 -5.1 0.02Comments »
52 Week Highs and Lows
NYSE
New Highs 17 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Accenture PLC A ACN 64.48 1,325,390 Bt Group BT 37.05 99,226 Church & Dwight CHD 49.39 55,602 Constellation Brands A STZ 23.45 128,829 Dick's Sporting Goods DKS 49.97 591,811 Dollar General DG 47.49 504,866 El Paso Corp EP 29.79 504,767 ExactTarget Inc ET 25.70 210,778 FleetCor Technologies FLT 39.28 3,773 GSE Holding GSE 13.98 9,743 Gap Inc GPS 26.43 454,758 InterXion Holding INXN 17.25 53,915 Kinder Morgan KMI 37.70 96,924 Mead Johnson Nutrition MJN 82.74 87,863 Philip Morris Intl PM 87.15 448,298 Sturm Ruger RGR 48.66 114,880 Western Gas Partners LP WES 47.63 13,850 New Lows 3 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Ferrellgas FGP 14.28 64,181 India Fund Inc. Wd IFN/WD 19.00 100 RadioShack RSH 6.41 326,274
NASDAQ
New Highs 31 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Alexion Pharm ALXN 94.90 188,684 Annapolis Bancorp ANNB 6.34 100 BBC Capital Trust II 8.5% BBXT 31.61 229 Benihana BNHN 13.43 5,399 Carmike Cinemas CKEC 13.05 12,376 Charter Communications CHTR 65.32 77,005 Comcast A Sp CMCSK 29.59 167,731 Conn's CONN 16.00 42,291 Cost Plus CPWM 18.56 537,226 Discovery Comm C DISCK 46.30 35,124 First California Finl Grp FCAL 5.50 25,433 Firsthand Tech Value Fd SVVC 34.22 8,603 Infinity Pharmaceuticals INFI 11.59 16,060 Intel INTC 27.99 3,721,471 Madison Square Garden MSG 33.80 24,318 Mattel Inc MAT 33.80 205,343 Medidata Solutions Inc MDSO 27.24 98,181 Monster Beverage MNST 61.19 65,431 Nautilus Marine Acqn NMAR 9.88 200 NewLink Genetics NLNK 10.85 6,539 Oritani Fincl ORIT 14.38 40,533 Peet's Coffee & Tea PEET 74.00 47,888 pricelinecom PCLN 717.17 207,830 Santarus SNTS 5.45 55,472 Snyders-Lance LNCE 24.69 14,035 Spectranetics SPNC 10.48 23,417 Starbucks SBUX 55.50 1,002,341 Ubiquiti Networks UBNT 29.46 35,447 United-Guardian UG 17.80 400 Verisk Analytics Inc VRSK 46.39 98,415 Zumiez ZUMZ 35.95 27,150 New Lows 10 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Anthera Pharmaceuticals ANTH 2.35 113,877 Apricus Biosciences APRI 2.88 16,028 KIT digital Inc KITD 6.00 2,909,380 Layne Christensen Co LAYN 19.75 202,168 Mannatech MTEX 3.14 3,891 Plug Power PLUG 1.30 1,304,885 Primo Water PRMW 1.91 49,898 Sunshine Heart SSH 8.51 2,307 US Auto Parts Ntwk PRTS 3.49 5,580 Vocus VOCS 12.15 55,761Comments »
Today’s Heat Map and A/D Lines
Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE ANR 3/23/12 16.0000 274 0.0600 dn 0.1600 AAPL 3/23/12 605.0000 218 0.4600 dn 0.5800 AAPL 3/23/12 600.0000 127 1.7500 dn 0.7400 BAC 4/21/12 12.0000 94 0.0400 dn 0.0100 BAC 5/19/12 9.0000 90 1.0200 dn 0.0100 AAPL 4/21/12 600.0000 86 20.5000 dn 0.4000 BAC 5/19/12 12.0000 82 0.1100 up 0.0000 GOOG 3/23/12 650.0000 80 0.6500 dn 0.4000 AAPL 3/23/12 610.0000 80 0.1600 dn 0.3400 MU 4/21/12 9.0000 80 0.2400 dn 0.1400 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE ANR 3/23/12 16.0000 277 0.2100 dn 0.0200 AAPL 3/23/12 595.0000 111 0.7400 dn 0.6700 GLD 3/23/12 160.0000 107 0.0900 dn 0.6600 AAPL 3/23/12 600.0000 88 2.5800 dn 1.0200 X 4/21/12 27.0000 68 0.5000 dn 0.0600 DHI 4/21/12 15.0000 63 0.6000 up 0.1900 X 4/21/12 29.0000 61 1.2800 up 0.0300 IBM 3/23/12 205.0000 60 0.1100 dn 0.3600 FCX 3/30/12 38.0000 53 0.6500 dn 0.0100 IBM 3/30/12 200.0000 50 0.3000 dn 0.0500 -VOLUME- CALLS PUTS TOTAL 7926 11697 19623
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE AAPL 3/23/12 600.0000 2966 1.6600 dn 1.0600 AMZN 3/23/12 195.0000 2563 1.1000 up 0.6700 NKE 4/21/12 115.0000 2448 0.3400 dn 1.5500 AAPL 3/23/12 605.0000 2025 0.4500 dn 0.5000 GS 3/30/12 130.0000 1323 0.8000 up 0.0900 BAC 4/21/12 11.0000 1159 0.1100 dn 0.0100 GS 4/21/12 135.0000 1004 1.6700 up 0.3300 BIDU 3/23/12 145.0000 969 0.2800 dn 0.3000 NKE 4/21/12 120.0000 903 0.1000 dn 0.6500 BAC 3/30/12 10.0000 833 0.1000 dn 0.0100 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE LYV 7/21/12 7.5000 1761 0.6500 up 0.0500 AAPL 3/23/12 595.0000 1609 0.6800 dn 0.6700 AAPL 3/23/12 600.0000 1406 2.5400 dn 0.7600 DELL 4/21/12 15.0000 1240 0.0700 up 0.0200 CHK 4/21/12 23.0000 840 0.4200 dn 0.0400 AAPL 3/23/12 590.0000 816 0.1900 dn 0.3100 KITD 7/21/12 10.0000 784 4.6000 up 2.0500 JAG 4/21/12 5.0000 782 0.3500 dn 0.0500 WFC 7/21/12 30.0000 712 0.9400 dn 0.0200 KITD 4/21/12 7.5000 585 1.4000 up 1.1000 -VOLUME- CALLS PUTS TOTAL 226756 160514 387270Comments »
Clear and Present Danger in Corporate America
“The nation’s largest banks, with combined holdings equal to half of the U.S. economy, represent a “clear and present danger” and must be broken up.
Big Brobama is Watching and Collecting
WASHINGTON (AP) – The U.S. intelligence community will now be able to store information about Americans with no ties to terrorism for up to five years under new Obama administration guidelines.
Until now, the National Counterterrorism Center had to immediately destroy information about Americans that was already stored in other government databases when there were no clear ties to terrorism.
Giving the NCTC expanded record-retention authority had been called for by members of Congress who said the intelligence community did not connect strands of intelligence held by multiple agencies leading up to the failed bombing attempt on a Detroit-bound airliner on Christmas 2009.
“Following the failed terrorist attack in December 2009, representatives of the counterterrorism community concluded it is vital for NCTC to be provided with a variety of datasets from various agencies that contain terrorism information,” Director of National Intelligence James Clapper said in a statement late Thursday. “The ability to search against these datasets for up to five years on a continuing basis as these updated guidelines permit will enable NCTC to accomplish its mission more practically and effectively.”
The new rules replace guidelines issued in 2008 and have privacy advocates concerned about the potential for data-mining information on innocent Americans.
“It is a vast expansion of the government’s surveillance authority,” Marc Rotenberg, executive director of the Electronic Privacy Information Center, said of the five-year retention period….”
Comments »State of the Nation: Disconnect Between Main Street and Pennsylvania Ave
WASHINGTON (MarketWatch) — Louisiana farmer Don Johnson sees leading Republican presidential hopefuls Mitt Romney and Rick Santorum as clueless about business outside of privileged circles.
That goes for President Barack Obama, too, said the 64-year-old farmer of soybeans, corn and wheat. Johnson, a Republican, said Newt Gingrich is the only candidate making any sense heading into the state’s primary this weekend.
COUNTY | GINI INDEX* |
---|---|
East Carroll Parish, La. | 0.645 |
Edwards County, Texas | 0.626 |
New York County, N.Y. | 0.601 |
Mineral County, Colo. | 0.598 |
Pitkin County, Colo. | 0.591 |
Allendale County, S.C. | 0.582 |
Greene County, Ga. | 0.564 |
Randolph County, Ga. | 0.558 |
Sioux County, N.D. | 0.556 |
Franklin County, Miss. | 0.555 |
Manassas Park, Va. | 0.339 |
Blaine County, Neb. | 0.337 |
Kendall County, Ill. | 0.332 |
Craig County, Va. | 0.327 |
Bath County, Va. | 0.326 |
Logan County, Neb. | 0.314 |
San Juan County, Colo. | 0.313 |
McPherson County, Neb. | 0.311 |
Kalawao County, Hawaii | 0.304 |
Loving County, Texas | 0.207 |
* Estimated, The Gini index measures income inequality, and varies between zero and one. A value of one indicates perfect inequality – only one household has any income. A value of zero indicates perfect equality – all households have equal income.
Source: U.S. Census Bureau, 2006-2010 American Community Survey
“Most of them are living in a make-believe world. People have to work for a paycheck every day, every week — they don’t understand that, they don’t feel the pain,” Johnson said. “Newt is probably the smartest. He can go toe-to-toe with Obama as far as explaining the issues.”
Millions of Americans remain underemployed and unemployed following a recession that widened economic divides in the U.S. Hoping to win support, Romney and Santorum are both touting the American dream of economic mobility, while criticizing Obama for, they claim, encouraging class warfare.
Both of the leading remaining Republican candidates support cutting taxes and regulations, aiming to woo constituents who want to do better for themselves and their kids, and are worried that government spending and rules are out of control. While the conservative candidates don’t overtly raise the issue of income equality in the same way Obama does, the Republicans in their policies and rhetoric aim to appeal to voters with those concerns.
“In just about every speech they give examples of small businesses trying to do something and being blocked by government regulations,” said Lawrence Jacobs, a political scientist at the University of Minnesota. “The Republicans are not whistling Dixie here – they are sinking their teeth into very public angst about government being too large.”
There is income inequality in America, there always has been, and hopefully, and I do say that, there always will be. Why? Because people rise to different levels of success based on what they contribute to society
Rick Santorum
After winning the Illinois Republican primary on Tuesday, Romney spoke about the American dream, opportunity and economic freedom.
“Economic freedom is the only force that has consistently succeeded in lifting people out of poverty,” Romney said. “But today, Americans who want to start a new business or launch a new venture don’t see promise and opportunity. They see government standing in their way.”
To strengthen the economy, Romney has said that if elected he would work on free-trade agreements, move to cut certain Obama-administration regulations, and order a sanction on China for unfair-trade practices, among other actions. Regarding Social Security, he has suggested raising the eligibility age as an option.
Looking longer term, his economic plan also supports lower tax rates on a broader base “so that taxation becomes an instrument for promoting economic growth.” Romney also supports cutting corporate tax rates.
Meanwhile, Santorum has said he would toss Obama administration regulations with an economic burden of more than $100 million, negotiate free-trade agreements, and cut means-tested entitlement programs by 10%, among other actions. He would also lower personal income and corporate tax rates.
The country needs “a renewed focus on creating opportunity,” Santorum wrote in a January South Carolina newspaper column.
Comments »
Getting to the Bottom of Cause and Effect on Oil Prices
Special Report: Intel shows Iran nuclear threat not imminent
“(Reuters) – The United States, European allies and even Israel generally agree on three things about Iran’s nuclear program: Tehran does not have a bomb, has not decided to build one, and is probably years away from having a deliverable nuclear warhead.
Those conclusions, drawn from extensive interviews with current and former U.S. and European officials with access to intelligence on Iran, contrast starkly with the heated debate surrounding a possible Israeli strike on Tehran’s nuclear facilities.
“They’re keeping the soup warm but they are not cooking it,” a U.S. administration official said.
Reuters has learned that in late 2006 or early 2007, U.S. intelligence intercepted telephone and email communications in which Mohsen Fakhrizadeh, a leading figure in Iran’s nuclear program, and other scientists complained that the weaponization program had been stopped.
That led to a bombshell conclusion in a controversial 2007 National Intelligence Estimate: American spy agencies had “high confidence” that Iran halted its nuclear weapons program in the fall of 2003.
Current and former U.S. officials say they are confident that Iran has no secret uranium-enrichment site outside the purview of U.N. nuclear inspections.
They also have confidence that any Iranian move toward building a functional nuclear weapon would be detected long before a bomb was made….”
Comments »Obama Elects Jim Yong Kim as World Bank President
“The prospect of the World Bank being led by someone from outside the U.S. for the first time seemed nearer on Friday, as several African nations backed Nigerian Finance Minister Ngozi Okonjo-Iweala for the job.
Per-Anders Pettersson | Getty Images
World Bank building in Washington, DC.
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“The endorsement is in line with the belief that the appointment of the leadership of the World Bank and its sister institution, theInternational Monetary Fund , should be merit-based, open and transparent,” the leaders of South Africa, Nigeria and Angola said in a statement.
If Okonjo-Iweala defies expectations and gets the job, she will be the first African to lead the organization, as well as the first woman.
The process of deciding who will be the next World Bank president will be — like the election of the next Pope — difficult to follow unless you’re one of the privileged few in the room.
In every previous election, the U.S. president’s nominee has been a shoo-in, but this time around the emerging economies are mounting a determined challenge. Given that the Bank’s remit is to lend to developing economies, an appointment from the emerging markets might make sense. However, the U.S., as the largest contributor to the Bank, controls 16.41 percent of the votes, and the winning candidate needs 85 percent.
Nominations for the presidency close on Friday, with growing rumblings that this may be the first time a woman, or someone from outside the U.S., leads the fund….”
Comments »U.S. Equity Preview: WTSLA, SCS, NKE, MU, COV. CPWM, & ACN
Accenture Plc (ACN) : The world’s second-largest technology-consulting company raised its full-year earnings forecast to at least $3.82 a share, beating analysts’ average projection of $3.80.
Cost Plus Inc. (CPWM) : The seller of international- themed food and casual furnishings forecast first-quarter revenue of at least $210 million, exceeding the average analyst estimate of $205.8 million.
Covidien Plc (COV) : The maker of surgical products and drugs agreed to buy closely held Newport Medical Instruments Inc., which makes ventilators, for $108 million. The Dublin- based company said it sees no material effect on sales and earnings in 2012.
Micron Technology Inc. (MU) : The largest U.S. maker of computer memory reported a third consecutive loss after sluggish demand for personal computers dragged down chip prices.
Nike Inc. (NKE) : The world’s largest sporting-goods company reported third-quarter profit that topped analysts’ estimates as sales gained in North America.
Steelcase Inc. (SCS) : The maker of office furniture forecast first-quarter earnings of no more than 12 cents a share, falling short of the average analyst estimate of 16 cents.
Wet Seal Inc. (WTSLA) : The apparel chain for teenage girls forecast first-quarter earnings of no more than 4 cents a share, missing the average analyst estimate by 2 cents.
Comments »Upgrades and Downgrades This Morning
Aetna Inc. (NYSE: AET) Cut to Neutral at Goldman Sachs.
Altria Group, Inc. (NYSE: MO) Raised to Outperform at Wells Fargo.
Coventry Health Care, Inc. (NYSE: CVH) Raised to Buy at Goldman Sachs.
Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) Started as Buy at ThinkEquity.
Discover Financial Services (NYSE: DFS) Raised to Conviction Buy List at Goldman Sachs; named Bull of the Day at Zacks.
Excel Maritime Carriers (NYSE: EXM) Cut to Underperform as Bear of the Day at Zacks.
HollyFrontier Corporation (NYSE: HFC) named as value stock of the day at Zacks.
Monster Worldwide, Inc. (NYSE: MWW) Raised to Outperform at Baird.
Reynolds American Inc. (NYSE: RAI) Cut to Market Perform at Wells Fargo.
Xilinx Inc. (NASDAQ: XLNX) Cut to Hold at Auriga.
Zynga Inc. (NASDAQ: ZNGA) Started as Underperform at Needham.
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