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Monthly Archives: April 2012

52 Week Highs and Lows

NYSE

New Highs 25 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
Calpine                       CPN         17.63              179,912 
CinemarkHldgs                 CNK         23.26              829,711 
Copa Hldgs Cl A               CPA         82.45               29,611 
Corrections Corp Of Amer      CXW         30.62            1,826,200 
Family Dollar                 FDO         65.28              239,789 
Gazit-Globe                   GZT         10.85                1,800 
Health Net                    HNT         41.22              276,455 
Lowe's Cos                    LOW         31.60            1,720,283 
Macy's Inc                    M           41.27            1,269,065 
Mangd Durtn InvGr Mun Fd      MZF         15.86                4,627 
Myers Industries              MYE         15.96               30,599 
PPG Industries                PPG         98.43            1,280,353 
Par Pharma                    PRX         41.98              147,240 
Pembina Pipeline              PBA         29.36               45,629 
Penske Automotive             PAG         26.24               37,487 
Primus Telecommunications     PTGI        17.35                9,327 
RPM Intl                      RPM         27.70              293,260 
Rentech Nitrogen Ptrs LP.     RNF         28.40               25,834 
Roundys                       RNDY        12.40              271,027 
Sally Beauty Hldgs            SBH         25.79               46,491 
Sherwin-Williams              SHW         114.44             652,205 
PMorgan Ch Cap XVII           GJN         23.19                7,999 
TJX Cos                       TJX         40.48            1,429,356 
Taro Pharmaceutical Indus     TARO        41.51                8,232 
Valspar Corp                  VAL         50.77              190,768 

New Lows 18 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
Advantage Oil & Gas           AAV         3.11                63,984 
Banco Bradesco ADS            BBDO        14.42                2,100 
Banco Macro SA                BMA         17.67               16,720 
Bill Barrett                  BBG         24.31               48,650 
Cloud Peak Engy               CLD         15.30               45,241 
DelhaizeGrp                   DEG         49.54               10,304 
Enerplus                      ERF         20.37              612,634 
France Telecom                FTE         13.82              654,078 
GFI Group                     GFIG        3.44                66,152 
GasLog Ltd                    GLOG        11.05               42,919 
Heckmann                      HEK         4.13               578,369 
KT Crp ADS                    KT          13.50               95,274 
Regional Management           RM          16.01               28,000 
Telefonica                    TEF         15.30              700,573 
Titanium Metals               TIE         13.06              120,467 
Transalta Corp                TAC         18.25                4,894 
Ultra Petroleum               UPL         20.97              226,985 
World Wrestling               WWE         8.48                40,785 

 NASDAQ
New Highs 24 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
Allegiant Travel              ALGT        61.21               48,159 
Amer Realty Cap Tr            ARCT        10.73              236,626 
Array BioPharma               ARRY        3.54                69,001 
Bed Bath & Beyond             BBBY        70.74            2,174,038 
Charming Shoppes              CHRS        6.17               248,529 
China Recycling Energy        CREG        3.41               439,376 
Discovery Comm C              DISCK       47.97               36,165 
Discovery Comm A              DISCA       51.36              136,159 
First United                  FUNC        7.50                24,374 
Fisher Comm                   FSCI        32.26                  701 
Great Wolf Resorts            WOLF        6.48             1,112,344 
Hibbett Sports                HIBB        56.12               16,848 
Hingham Institution Savs      HIFS        57.99                  600 
Inventure Foods               SNAK        5.25                 5,083 
Joe's Jeans                   JOEZ        1.50               276,195 
Linktone   (ADS)              LTON        1.52                 6,084 
Liquidity Services            LQDT        49.89              214,742 
pricelinecom                  PCLN        759.89             205,232 
Ross Stores                   ROST        59.70              306,878 
Sucampo Pharm (Cl A)          SCMP        8.09                18,248 
TearLab                       TEAR        3.97               100,343 
TIBCO Software                TIBX        33.11            1,137,654 
Tractor Supply Co             TSCO        93.50               84,623 
US Ecology                    ECOL        22.71               12,180 

New Lows 21 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
APCO Oil and Gas              APAGF       61.35                8,807 
Advocat Inc                   AVCA        4.97                 2,100 
Alvarion                      ALVR        0.68               624,261 
Amyris                        AMRS        4.18                51,595 
AngioDynamics                 ANGO        11.73               83,334 
Chelsea Therapeutics Intl     CHTP        2.01               559,168 
EnerNOC                       ENOC        6.65                57,218 
Enterprise Fincl Services     EFSC        11.01               13,862 
Exceed Co                     EDS         2.52                 3,198 
First Solar                   FSLR        21.30              718,806 
Groupon Inc                   GRPN        14.01            1,059,500 
InterDigital                  IDCC        33.42               65,899 
James River Coal Co           JRCC        4.75               443,955 
Lumos Networks                LMOS        9.81                 8,049 
NeurogesX                     NGSX        0.44                12,230 
SMART Technologies            SMT         2.81                 9,854 
SMF Energy                    FUEL        1.00                66,942 
Seven Arts Entertainment      SAPX        0.12               150,507 
Stereotaxis                   STXS        0.52                20,299 
Targacept                     TRGT        4.87                42,767 
YRC Worldwide                 YRCW        5.54                29,416


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Most Active Options Trades

-CALLS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
PFE        5/19/12         22.0000        5286            0.6600      dn 0.0400 
AAPL       4/5/12         630.0000        2942            0.3000      dn 0.5400 
AAPL       4/5/12         625.0000        2408            1.5700      dn 0.8400 
MSFT       5/19/12         32.0000        2159            0.5500      up 0.0100 
AIG        5/19/12         35.0000        1384            0.7000      dn 0.0800 
AAPL       4/5/12         620.0000        1338            4.6000      dn 0.9000 
AVP        4/21/12         22.0000        1287            1.3000      up 0.1500 
BTU        4/21/12         31.0000        1206            0.5700      up 0.2900 
BAC        4/21/12         10.0000        1035            0.1000      dn 0.0200 
RIO        7/21/12         55.0000        1010            4.0000      up 0.2000 

 -PUTS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
RIMM       4/5/12          12.0000        3000            0.0200      up 0.0100 
AAPL       4/5/12         620.0000        1991            0.7300      dn 0.6300 
AIG        5/19/12         30.0000        1579            0.6700      up 0.1100 
FSIN       4/21/12         10.0000        1500            3.2000      dn 0.1000 
AAPL       4/5/12         615.0000        1486            0.1800      dn 0.3100 
AAPL       4/5/12         625.0000        1458            2.5700      dn 0.6800 
BAC        4/13/12          9.0000        1254            0.1000      dn 0.0200 
BAC        11/17/12         9.0000        1058            1.0400      dn 0.0500 
AA         4/21/12         10.0000        1025            0.4200      up 0.0000 
AA         5/19/12          9.0000        1023            0.1800      up 0.0000 

 -VOLUME- 
 CALLS      PUTS           TOTAL 
250466    253144        503610
 -CALLS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
BAC        4/21/12          9.0000         253            0.4700      dn 0.0100 
AAPL       4/5/12         630.0000         209            0.4000      dn 0.5000 
AAPL       4/5/12         620.0000         198            4.9500      dn 0.4500 
STX        4/5/12          27.0000         183            0.0700      dn 0.5100 
POT        4/21/12         45.0000         179            1.4500      up 0.1100 
BTU        4/21/12         30.0000         142            0.9500      up 0.4300 
AAPL       4/5/12         625.0000         116            1.6500      dn 0.8100 
AIG        5/19/12         29.0000         111            3.7000      dn 0.2500 
BAC        4/21/12         10.0000         105            0.1100      dn 0.0100 
RIMM       7/21/12         14.0000         100            1.1400      dn 0.0200 

 -PUTS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
RIMM       4/5/12          13.0000         332            0.2000      dn 0.1300 
MSFT       4/5/12          31.0000         250            0.0500      dn 0.0700 
AAPL       4/5/12         625.0000         136            2.5300      dn 0.8700 
NFLX       4/5/12         110.0000         119            0.5000      dn 0.3800 
WFM        5/19/12         75.0000         107            1.2000      up 0.0900 
IBM        4/5/12         205.0000         100            0.3500      up 0.1400 
AAPL       4/5/12         620.0000          95            0.6800      dn 0.7900 
AIG        5/19/12         29.0000          94            0.4400      dn 0.1500 
GIS        4/21/12         39.0000          90            0.2700      up 0.0400 
BBBY       4/5/12          62.5000          79            0.0100      dn 0.2700 

 -VOLUME- 
 CALLS      PUTS           TOTAL 
15837    17024        32861

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Dumping is All the Rage

With a looming water crisis world wide it is a wonder why we allow for such behavior. Remember we may not destroy mother earth, but we may create an inhabitable world.

Full article

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Money Manager O’Shaughnessy: Stocks Will Soar 86 Percent by 2020

“Stocks are headed higher through the rest of this decade, as they work overtime to erase the losses they’ve incurred over the past 12 years, says Jim O’Shaughnessy, founder of O’Shaughnessy Asset Management.

He sees the Standard & Poor’s 500 Index reaching at least 2,600 by 2020, which would represent an 86 percent gain from current levels.

Stocks performed so poorly in the 2000-2009 period that just to match the worst 20 years in stock market history — 1929-49 — stocks would need to rise at a compounded annual rate of almost 7 percent through 2019, O’Shaughnessy tells Yahoo….”
Read more 

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Morgan Stanley Downgrades Chances of Fed Easing

“U.S. investment bank Morgan Stanley has cut its forecast for the possibility the Federal Reserve will stimulate the economy via quantitative easing, putting the likelihood at one in three from a previous forecast of two out of three.

The Fed has slashed interest rates to near zero but when such traditional policies don’t work, it floods the economy with liquidity by buying assets from banks, a policy technically known as quantitative easing but dubbed by critics as printing money out of thin air.

Such policy, often a hot-button issue, sends stock price rising, the dollar weakening and inflationary pressures building….”

Read more

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Barton Biggs Hits The Bid Fearing a 7% Drop in the S&P

“The Standard & Poor’s 500 Index may fall as much as 7 percent because of economic weakness in Europe, according to hedge fund manager Barton Biggs.

“I may want to take a little risk off,” Biggs, founder of Traxis Partners LP, said on Bloomberg Television’s “In the Loop” with Betty Liu.

“I’m looking for a 5 to 7 percent correction as the most likely possibility.”

Read more

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Byron Wien: Stocks’ Bull Run Will Continue Through 2012

“Wall Street strategist Byron Wien says the bull market in stocks will run through the rest of the year as the economy improves and more companies follow Apple’s lead in paying a dividend, CNBC reports.

“I actually thought the S&P 500 could reach 1,500 based on the generally achieved (but not last year) multiple of 15 times and operating earnings of $100,” Wien wrote in a note to clients.

“Estimates have been trimmed somewhat, but, at this point, I still think 1,500 is likely.”

Read more

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Forbes to Moneynews: Bernanke a ‘Terrible Central Banker’

“Federal Reserve Chairman Ben Bernanke has been a “terrible central banker,” trying so hard to guide the economy that he has lost sight of his primary role, which is to control inflation, keep the dollar healthy and let the economy guide itself, Forbes magazine editor and former presidential candidate Steve Forbes told Newsmax.TV in an exclusive interview.

Under Bernanke, the Federal Reserve has slashed interest rates to near zero and injected trillions of dollars into the economy in an effort to create jobs and stave off deflationary fears.

Fed tools have included purchasing assets like Treasurys and mortgage-backed securities from banks, technically known as quantitative easing but dubbed by critics as printing money out of thin air, with some reports pointing out the Fed last year bought 61 percent of the total net Treasury issuance, giving the White House more leeway to borrow and spend.

Story continues below video.”

Read more

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The Next Big Thing: Facebook & E-commerce

“(Reuters) – A group of e-commerce start-ups, backed by some of the tech world’s most pedigreed financiers, are betting that Facebook Inc can become an e-commerce powerhouse to rival Amazon.com Inc and eBay Inc.

As the world’s largest social network hurtles toward a $5 billion initial public offering, it will come under more pressure from Wall Street to find new sources of profit growth and reduce its reliance on advertising, which accounted for 85 percent of its 2011 revenue.

Some entrepreneurs and investors increasingly think “f-commerce” – meaning e-commerce on Facebook – is the answer. Start-ups such as BeachMint, Yardsellr, Oodle and Fab.com are coming up with novel ways to persuade Facebook users to not just connect with friends on the social network, but to shop as well.

Backed by tens of millions of dollars from venture capital firms like Accel Partners and Andreessen Horowitz, and other big investors like Goldman Sachs, these start-ups are pushing out shopping apps, hosting online garage sales and testing out new business models on Facebook.

“E-commerce is a huge category with very strong tailwinds and it’s a natural move for Facebook,” said Sam Schwerin of Millennium Technology Value Partners, which owns Facebook shares and has a stake in BeachMint.

Amazon revolutionized online shopping by crunching lots of customer and purchase data to come up with relevant, personalized recommendations. In the same vein, Facebook’s combination of data, analytics and payment technology could fuel the next generation of e-commerce, Schwerin said.

Facebook declined to comment, but investors said the company understands the importance of having an e-commerce strategy.

“It’s a big imperative for them,” said Theresia Gouw Ranzetta of Accel Partners, an early backer of Facebook. “They understand it’s an important strategic benefit for them to make e-commerce players successful on the platform…..”

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Pacific Rim Banks Move Towards Dollar Purchases

“LONDON (Reuters) – A new batch of counterfeit cancer drug Avastin discovered in the United States was bought in Turkey and shipped through Britain by UK-based middlemen, officials said on Wednesday, revealing a shipment pattern very similar to an earlier episode.

The first discovery of fake supplies of the Roche drug shipped into the United States from the Middle East via Europe hit the headlines in February.

The repetition of the illegal trade highlights vulnerabilities in the global medicine supply chain, which leaves patients at risk of receiving ineffective or contaminated products.

Medicines and Healthcare products Regulatory Agency (MHRA) said it was looking into how the latest counterfeit batch entered Britain before being sold in the U.S. market.

“It’s an ongoing investigation,” said spokeswoman Jennifer Kyne. “We’re helping the FDA (Food and Drug Administration) with their investigation and doing all we can on our side.”

So far, the MHRA has established that British wholesaler Richard’s Pharma imported 120 packs of the medicine from a Turkish supplier, 38 of which were exported direct to the United States.

The remainder were sold to another British firm, River East Supplies, which also exported them to the U.S. market. River East was previously identified by regulators as one of the parties involved in the earlier fake Avastin incident.

No-one was immediately available to comment at either Richard’s Pharma or River East, which are based respectively in Warwick and Nottingham, central England.

The MHRA’s Kyne said there was no evidence to suggest that any of the counterfeit product had reached patients in Britain….”

Read more

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Pre Market Movers

Source 

“WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Thursday’s session are Ruby Tuesday Inc., Meru Networks Inc. and Bed Bath & Beyond Inc.

CarMax Inc. KMX +0.84% , Constellation Brands Inc. STZ +0.78% , WD-40 Co. WDFC -0.80% , Schnitzer Steel Industries Inc. SCHN -2.83% , AZZ Inc. AZZ -1.86%  and SemiLEDS Corp.LEDS +1.02%  are the featured companies on Thursday’s earnings calendar.

Standard & Poor’s said Cinemark Holdings Inc. CNK +5.14%  will take the place of NstarNST -1.00%  in the S&P MidCap 400 index after the close of trading April 9. Nstar and merger partner Northeast Utilities NU -0.83%  said they have received final approval, from Massachusetts regulators, for their transaction. The companies have set a closing date of April 10.

 

RT 8.88, -0.18, -1.9% Ruby Tuesday RT -1.99%  announced plans to close 25 to 27 restaurants that it said have failed to perform up to expectations. The closings will come before the end of May, the Maryville, Tenn.-based company said late Wednesday in reporting financial results for the third quarter ended Feb. 28. Profit fell for the latest quarter as revenue rose 1.8% to $324.8 million, but same-store sales dropped 5% at company-owned Ruby Tuesday restaurants, and for the year, management projected a decrease of 4% to 4.5%. Full-year earnings are forecast at 43 cents to 48 cents a share, excluding the impact of impairment and exit costs related the restaurant closings as well as other factors. The company also announced it will acquire Lime Fresh Mexican Grill for $24 million, a deal expected to be completed during the current quarter.

Meru Networks MERU +4.73% , citing business challenges that have proved “greater than expected,” said results for the first quarter ended March 31 will come in lower than forecast. The Sunnyvale, Calif.-based wireless technology company now projects quarterly revenue in a range of $19.0 million to $19.5 million. Meru is taking steps to limit growth in expenses and enhance productivity, according to Bami Bastani, president and chief executive, who began working in the post in a full-time capacity on Monday.

Nearly two years to the day after the tragedy, Alpha Natural Resources Inc. ANR +0.48% said the Upper Big Branch coal mine in West Virginia will be permanently closed. An explosion at the mine, owned at the time by Massey Energy Co., left 29 miners dead. Work on sealing off the mine is expected to be completed this summer, according to Bristol, Va.-based Alpha Natural, which acquired the mine property via its 2011 purchase of Massey Energy. “We are currently making significant safety-related investments in leading-edge technologies that will make coal mines safer throughout the industry,” said Kevin Crutchfield, CEO of Alpha Natural, in a statement.

Dick’s Sporting Goods Inc. DKS +0.10%  closed on the acquisition of the Top-Flite brand, including intellectual property rights, from Callaway Golf Co. ELY -2.02% , the companies said. Term were not disclosed. The deal means “we’ve added a strong, highly recognized name to our portfolio while gaining a valuable competitive advantage in the golf market,” said Edward Stack, chairman and CEO of the Pittsburgh-based Dick’s chain. Callaway said the disposal is in keeping with management’s plans for a business restructuring aimed at lowering costs and heightening focus on the Carlsbad, Calif.-based company’s core units.

Carmike Cinemas Inc. CKEC +0.21%  has commenced a secondary public offering of common stock, in the amount of 4 million shares. The Columbus, Ga.-based company said it plans to use net proceeds for general corporate purposes. Underwriters will have a 30-day option to buy up to 600,000 additional shares to satisfy investor demand if warranted.

Underwriters fully exercised their option to buy additional shares of Enphase Energy Inc.ENPH -2.49%  following the company’s initial public offering last week. As a result, Petaluma, Calif.-based Enphase said it sold more than 10.3 million common shares at a price of $6 each, yielding net proceeds of about $54.6 million.

Wednesday earnings recap

 

BBBY 69.00, +2.77, +4.18%

70
60
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12
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M

 

Bed Bath & Beyond BBBY +4.18%  reported a net profit of $351 million, or $1.48 a share, for the fourth quarter ended Feb. 25, up from $283.5 million, or $1.12 a share, earned in the final three months of fiscal 2011. Quarterly revenue generated by the Union, N.J.-based retailer of housewares reached $2.73 billion from the prior year’s $2.5 billion, chalking up growth in same-store sales of 6.8%. In a survey by FactSet Research, the consensus of analysts had been for a profit of $1.33 a share on $2.66 billion in revenue. Looking ahead to the first quarter, Bed Bath & Beyond pegged earnings in a range of 79 cents to 83 cents a share, with profit for the full fiscal year projected to increase at percentage pace in a range from the high single digits to the low double digits.  Read more on Bed Bath & Beyond’s results and outlook.

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Upgrades and Downgrades This Morning

Source

American International Group (NYSE: AIG) Reiterated Buy with $40 target at BofA/ML.

Comerica Incorporated (NYSE: CMA) Cut to Sell at Citigroup.

CNO Financial Group, Inc. (NYSE: CNO) Started as Buy with $9 target at Goldman Sachs.

Deere & Co. (NYSE: DE) Reiterated Buy with $104 target at BofA/ML.

Drill-Quip, Inc. (NYSE: DRQ) named as Bear of the Day at Zacks.

Google Inc. (NASDAQ: GOOG) Reiterated Buy with $730 target at Argus.

Huntington Bancshares Incorporated (NASDAQ: HBAN) Started as Neutral at Citigroup.

Jefferies Group, Inc. (NYSE: JEF) Raised to Buy at Rochdale Securities.

KeyCorp (NYSE: KEY) Raised to Buy at Citigroup.

NVIDIA Corporation (NASDAQ: NVDA) Started as Buy at Cantor Fitzgerald.

Oriental Financial Group Inc. (NYSE: OFG) named as value stock of the day at Zacks.

Panera Bread Company (NASDAQ: PNRA) Started as Outperform with $190 target at Credit Suisse.

Pandora Media, Inc. (NYSE: P) Started as Underweight at Barclays.

Public Service Enterprise Group Inc. (NYSE: PEG) Reiterated Buy with $40 target at Argus.

Regions Financial Corp. (NYSE: RF) Started as Neutral at Citigroup.

URS Corporation (NYSE: URS) Reiterated Underperform with $49 target at BofA/ML.

Veolia Environnement (NYSE: VE) Cut to Sell at Deutsche Bank.

Zumiez, Inc. (NASDAQ: ZUMZ) named as Bull of the Day at Zacks.

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