Comments »Stocks have drifted off of session highs. Gains remain solid, though.
Fed Chairman Bernanke is currently engaged in a question-and-answer session. He stated that although the economy has showed some positive signs, there have been mixed results in such areas as retail sales. He also added that if inflation remains below target and employment remains slow there is a case for further policy action.
Before Bernanke took the podium, the Fed released a downwardly revised economic outlook for 2012. The Fed now expects GDP to grow in a range of 2.2% to 2.7% this year, down from a range of 2.5% to 2.9%
FLASH: U.S Equities Pare Losses Off Dovish Fed Statement
No Change in Interest Rates… QE 2.5 Underway by Not Raising Rates Until At Least Late 2014
Today’s Top Industries
Money Flows, Heat Map, and the S&P A/D Line
Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Apple AAPL NASD 448.66 +343.7 1.24
Corning Inc GLW NYSE 13.22 +24.7 2.01
Guidewire Software GWRE NYSE 16.62 +23.7 4.86
General Electric GE NYSE 18.86 +18.5 2.36
EMC Corp EMC NYSE 25.40 +17.0 1.92
IBM IBM NYSE 190.22 +15.5 1.49
Boeing BA NYSE 73.08 +12.8 1.39
AT&T T NYSE 29.88 +11.3 3.08
Procter & Gamble PG NYSE 64.58 +10.5 2.19
Caterpillar CAT NYSE 106.58 +10.2 1.49
WellPoint Inc WLP NYSE 65.11 +10.1 1.20
Abbott Labs ABT NYSE 54.99 +9.2 1.50
Verizon Communications VZ NYSE 37.50 +8.8 2.06
Baker Hughes BHI NYSE 46.55 +8.6 1.67
Bristol-Myers BMY NYSE 32.37 +8.3 2.38
Occidental Pete OXY NYSE 100.34 +7.7 1.45
WW Grainger GWW NYSE 198.72 +7.3 1.73
Natl Oilwell Varco NOV NYSE 74.49 +7.2 1.70
Merck MRK NYSE 38.35 +6.8 1.78
Life Technologies Cp LIFE NASD 49.56 +6.8 1.36
ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Qualcomm QCOM NASD 59.26 -75.7 0.32
Google GOOG NASD 571.40 -52.7 0.72
Williams-Sonoma WSM NYSE 34.33 -37.2 0.06
ConocoPhillips COP NYSE 70.18 -28.4 0.51
Microsoft MSFT NASD 29.25 -25.2 0.38
ExxonMobil XOM NYSE 86.38 -21.7 0.45
Goldman Sachs GS NYSE 107.09 -19.8 0.61
Illumina ILMN NASD 52.37 -19.3 0.75
Costco Wholesale COST NASD 81.49 -17.7 0.14
Intel INTC NASD 26.62 -17.1 0.51
SPDR S&P 500 SPY ARCA 130.84 -15.7 0.91
Kraft Foods KFT NYSE 38.20 -14.9 0.18
Chevron CVX NYSE 105.28 -14.1 0.52
McDonald's MCD NYSE 98.70 -13.5 0.62
Citigroup C NYSE 29.39 -12.6 0.54
CA Inc CA NASD 25.14 -12.5 0.65
KT Crp ADS KT NYSE 15.00 -11.2 0.01
Pfizer PFE NYSE 21.50 -10.1 0.48
Altera ALTR NASD 39.20 -9.8 0.67
PwrShrs QQQ Tr Series 1 QQQ NASD 59.94 -9.7 0.74
Comments »
52 Week Highs and Lows
NYSE
New Highs 36 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ BlkRk MuniHldgs II MUH 16.12 7,119 BlkRk MuniHldgs Quality MUS 14.53 13,017 BlRk Muyld NY Qlty MYN 14.29 11,392 BlkRk MuniYld Qlty II MQT 14.04 16,186 Buckeye Tech BKI 38.50 123,987 Chipotle Mexican Grill CMG 364.00 55,975 ContinentalRes CLR 78.88 619,399 Extra Space Storage EXR 25.61 70,306 Fair Isaac FICO 38.92 13,805 Fidelity Ntl Financial FNF 17.93 182,187 Franklin Universal FT 6.79 11,359 GP Strategies GPX 14.41 5,440 Grupo Aero Sureste ads ASR 65.43 4,647 Inergy Midstream LP NRGM 19.95 59,475 Invesco Quality Mun Secs IQM 15.24 5,629 Kayne Anderson Engy Dev KED 22.42 8,930 Kinder Morgan Energy KMP 89.00 151,752 Lions Gate Entertainment LGF 10.64 710,083 Nuveen CA Investment NQC 15.32 7,916 Nuveen Div Fnd NAD 14.88 8,672 Nuveen Mas Prem Incm 2016 NMTpD 10.18 1,000 Nuveen Mich Premium Inc NMP 14.47 2,254 Nuveen Muni Advantage Fd NMA 14.83 20,073 Nuveen NJ Div Adv Pfd. NUJpC 10.12 5,595 Nuveen NJ Investment Qual NQJ 14.87 20,234 Nuveen NJ Premium Income NNJ 15.55 7,699 Nuveen NY Quality Income NUN 15.75 12,714 Nuveen NY Select Quality NVN 15.79 5,443 Nuveen Prem Inco Muni 2 NPM 15.06 23,971 Nuveen Quality Income NQU 14.98 14,521 PimcoCA PCK 9.90 7,927 Simon Property Group SPG 133.79 109,631 Six Flags Entertainment SIX 43.00 15,764 Stewart Info Svcs STC 13.42 7,516 Taubman Ctrs TCO 65.90 17,762 Total Sys Svcs TSS 22.42 965,229 New Lows 7 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Agnico-Eagle AEM 34.03 138,856 Bill Barrett BBG 27.75 108,781 Cellcom Israel CEL 14.29 130,628 Colfax WI CFXw 30.21 200 Exelon EXC 38.76 1,498,778 France Telecom FTE 14.50 241,437 Portugal Telecom PT 5.19 32,108
NASDAQ
New Highs 25 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Ames National ATLO 21.25 617 Apple AAPL 454.45 13,013,856 CA Inc CA 26.21 6,065,011 Citizens & Northern CZNC 21.00 4,041 Cost Plus CPWM 13.50 20,023 Curis CRIS 4.94 110,471 Donegal Group Inc A DGICA 15.16 1,085 ePlus Inc PLUS 31.28 661 First Community FCCO 8.50 205 Hudson Tech HDSN 2.70 369,157 Indiana Community Bancorp INCB 21.46 23,368 Landstar System LSTR 50.11 20,714 MidWestOne Fincl Group MOFG 16.19 607 OSI Systems OSIS 56.70 6,344 Pharmacyclics PCYC 18.39 77,758 PwrShrs QQQ Tr Series 1 QQQ 60.30 8,644,307 Ryanair Hldgs PLC (ADS) RYAAY 31.54 46,860 Select Comfort SCSS 24.86 186,591 Silicon Laboratories SLAB 48.50 291,455 Taylor Capital Group TAYC 13.05 56,364 Tessco Techs TESS 17.35 4,335 TripAdvisor TRIP 31.11 171,591 Ulta Salon Cosmetics ULTA 78.40 112,606 VOXX International VOXX 13.19 26,059 Westport Innovations WPRT 38.51 671,878 New Lows 5 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ CyberDefender CYDE 0.18 11,400 LM Ericsson Telephone ERIC 8.67 4,209,555 Frontier Communications FTR 4.70 1,016,846 Partner Comm Co PTNR 7.63 120,751 ProShr Ul Sh QQQ SQQQ 15.54 618,064Comments »
Crude Inventories See a Build of 3.6 Million Barrels
Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE AAPL 1/27/12 450.0000 3450 3.2500 up 2.0300 AAPL 1/27/12 460.0000 3142 0.5300 dn 0.0900 AAPL 2/18/12 470.0000 2459 2.1900 up 0.9400 AAPL 2/18/12 450.0000 2411 8.6500 up 4.9000 ILMN 3/17/12 60.0000 2215 0.3000 up 0.2500 IBKR 3/17/12 15.0000 1928 0.9500 dn 0.2000 AAPL 2/18/12 480.0000 1920 1.0000 up 0.1800 AAPL 1/27/12 440.0000 1789 9.6500 up 6.4000 HGSI 2/18/12 11.0000 1742 0.4200 up 0.1700 AAPL 1/27/12 430.0000 1717 19.0000 up 12.4000 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE S 8/18/12 2.0000 5222 0.3100 up 0.0100 IGT 2/18/12 16.0000 1970 0.5000 up 0.0000 NSC 2/18/12 70.0000 1806 0.8000 up 0.2500 AAPL 1/27/12 440.0000 1554 0.7900 dn 21.9100 PSS 2/18/12 15.0000 1300 0.5500 dn 0.1000 YHOO 1/27/12 16.0000 1295 0.5000 dn 0.0200 MGM 2/18/12 13.0000 1143 0.6200 up 0.0500 MRO 7/21/12 30.0000 1088 2.3600 up 0.2500 AAPL 1/27/12 445.0000 1084 2.0500 dn 24.2000 UAL 2/18/12 19.0000 1045 0.4200 dn 0.2800 -VOLUME- CALLS PUTS TOTAL 258167 216489 474656
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE AAPL 1/27/12 440.0000 271 10.1900 up 6.9400 AAPL 2/18/12 440.0000 227 14.1600 up 7.4700 AAPL 1/27/12 450.0000 217 3.2500 up 1.7700 AAPL 1/27/12 435.0000 207 14.8000 up 10.1000 AAPL 2/18/12 420.0000 204 30.4500 up 14.5500 DNDN 2/18/12 15.0000 192 0.8900 up 0.1200 AAPL 1/27/12 420.0000 173 29.5000 up 17.9000 AAPL 4/21/12 410.0000 172 47.3100 up 16.8600 AAPL 4/21/12 430.0000 172 33.1600 up 12.4100 AAPL 1/27/12 460.0000 169 0.5500 dn 0.0700 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE GLD 2/18/12 158.0000 161 1.6700 up 0.3000 MSFT 3/17/12 29.0000 147 0.7900 up 0.0400 FCX 1/27/12 43.0000 130 0.3700 up 0.1200 AAPL 2/18/12 415.0000 124 0.9800 dn 11.1200 GLD 1/27/12 161.0000 111 1.2000 up 0.5800 AAPL 1/27/12 445.0000 109 2.0100 dn 22.9900 AAPL 2/18/12 430.0000 107 2.7800 dn 17.2700 AAPL 1/27/12 450.0000 107 4.0500 dn 24.7000 FAS1 4/21/12 10.0000 100 0.4000 up 0.0000 GOOG 1/27/12 555.0000 100 0.5500 up 0.1500 -VOLUME- CALLS PUTS TOTAL 15902 9307 25209Comments »
Pending Home Sales Fall 3.5%…Reading Still Higher YOY
U.S. Equity Preview: AMD, AAPL, ALTR, CA, RE, FIO, TPX, TSS, & YHOO
Upgrades and Downgrades This Morning
DaVita, Inc. (NYSE: DVA) Raised to Outperform as Bull of the Day at Zacks.
Dendreon Corporation (NASDAQ: DNDN) maintained Neutral with $14.00 target at Zacks; Started as Hold at Cantor Fitzgerald.
Energy Partners Limited (NYSE: EPL) named as value stock of the day at Zacks.
Goldman Sachs Group Inc. (NYSE: GS) Cut to Neutral at JPMorgan.
hhgregg, Inc. (NYSE: HGG) maintained Underperform as Bear of the Day at Zacks.
KeyCorp (NYSE: KEY) Cut to Underperform at Keefe Bruyette & Woods.
McDonald’s Corporation (NYSE: MCD) Cut to Perform from Outperform at Oppenheimer (valuation call).
Morgan Stanley (NYSE: MS) Cut to Neutral at JPMorgan.
Oracle Corporation (NASDAQ: ORCL) Cut to Neutral at Macquarie.
Regions Financial (NYSE: RF) Raised to Outperform at RBC Capital; Cut to Neutral at Bank of America Merrill Lynch.
Starbucks Corporation (NASDAQ: SBUX) Raised to Outperform at Oppenheimer.
Zynga, Inc. (NASDAQ: ZNGA) Started as Overweight at Barclays; Started as Overweight at JPMorgan; Started as Neutral at Bank of America Merrill Lynch; Started as Buy at Goldman Sachs.
Gapping Up and Down This Morning
Gapping up
ILMN +28.5%, CA +15%, TQNT +7.4%, AAPL +7.3%, CRUS +7.2%, RDN +5.8%, NUAN +5.4%, BRCM +4.7%, TPX +4.7%, BMC +3.8%, SWKS +3.7%, ZAGG +3.6%,
SNDK +2.9%, STLD +1.9%, DAL +5%, LCC +3.9%, STLD +1.9%, COP +1.3%, TXT +7.5%, SWFT +5.5%, CRUS +5.7%, ARMH +4%, BRCM +3.9%, BMC +3.8%,
NUAN +3.3%, SNDK +2.9%, ZAGG +2.3%, SWKS +1.6%, PACB +26.6%, GNOM +23.6%, AFFX +10.3%, LIFE +9.6%, NBG +7%, RDN +5.8%, BCEI +6.2%, EAT +1.6%,
DNDN +1.6%, SBUX +1.2%
Gapping down
FBC -29.1%, ERIC -15%, FIO -13.3%, MRCY -9.9%, NVDA -5%, WPZ -3.5%, NVS -3.5%, MT -3.3%, NSC -2.6%, AMD -2.6%, DB -2.5%, ALTR -1.5%, RKT -7.7%,
TEL -6.9% RES -6.2%, WLP -5.6%, GLW -5.3%, NVDA -5%, ATI -4.7%, REDF -4.5%, NVS -3.7%, AMD -3.2%, GWW -2.7%, NSC -2.6%, ALTR -2.5%,
BA -1.1%, YHOO -0.6%, LYG -4.1%, RBS -3.2%, HBC -2.2%, DB -1.5%, CS -1.2%, BAC -0.7%, ALU -9.8%, WPZ -3.5%, POT -1.2%, MCD-0.7%
Comments »In Play and On the Wires
U.S. Mortgage Applications Fall Back Last Week
German Business Confidence Rises More Than Expected
Australian Core Inflation Rises Above Comfort Levels for Their Central Bank
Asia Holds Gains While Europe and U.S. Futures Fall Back; NASDAQ Futures Up on Apple’s Stellar Earnings
Arrowhawk Capital Partners Expect Investors to Hit Bids on Bonds and Buy the Fuck Out of Equities
Asian Markets Rise Like Froth
FLASH: AAPL Opens Up $39 Bones in A.H. …S&P Futures Higher Off the Coattails of the Stock of the Gods
…and the pundits on t.v. told you to sell over the past two days….HAH
Cheers to all holders !!!
