Frank Looking for $2.5 Billion Levy on Top Banks and Hedge Funds
Is The Middle Class Being Assaulted ?
Lawmakers Push For Afghan Troop Withdrawal by July
U.S. Debt Climbs $72 Billion on the Same Day House Votes for a $6 Billion Spending Cut
Market Update: Europe Closes Higher as S&P Bulls Keep Most of The Upside Intact
First It Was a Few Hours; Now Japan Officials Can Not Say When Power Might Be Restored to Power Plants
Stocks Give Up Some Bullishness in U.S. Markets; Can The Bulls Hold On ?
Notable Stock Moves Earlier This Afternoon
The following are some of today’s most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).
Large Cap Gainers
- PC (12 +7.24%), SNE (31.63 +5.86%): Japanese cos showing strength
- ARMH (25.81 +5.78%): strength attributed to reports related to chip competition
- CLF (88.51 +5.71%), RIO (65.04 +4.9%): metal/mining cos showing strength
Large Cap Losers
- MHS (53.39 -5.05%): confirmed that CalPERS terminated negotiations for renewing a contract awarded to co
- CCJ (28.55 -3.68%): uranium co continue to drop following nuclear meltdown concerns in Japan
- ETR (65.16 -2.24%), AEP (33.69 -1.66%), EXC (39.77 -0.45%): utilities showing weakness; related to Japan nuclear crisis
Mid Cap Gainers
- PDS (11.83 +6.96%), ROSE (45.11 +6.42%), OII (81.18 +6.17%): oil/gas cos showing strength
- VSEA (44.13 +6.06%): semis showing strength
- CREE (49.83 +5.98%): upgraded to Buy at Merriman; semis showing strength
Mid Cap Losers
- GES (38 -13.38%): beat EPS and revs consensus but issued downside Q1 guidance
- NRP (35.15 -6.22%): commenced a secondary public offering of 6 million common units representing limited partner interests in Natural Resource Partners L.P.
- LULU (75.64 -4.68%): beat EPS and revs consensus; guided Q1 EPS in-line with revs below; guided FY12 EPS above with in-line revs; concerns over lack of inventory and higher raw material costs
- KWK (14.13 -3.15%): co and Darden family will not pursue a take private transaction of co
Gainers
The following are today’s most active stocks ranked by volume and relative volume, categorized by sectors (over $300 mln market cap and 100K average daily volume).
Today’s top 20 volume
- Technology: CSCO (31.28 mln +0.45%), INTC (23.01 mln +0.96%), MSFT (20.83 mln +1.47%), S (19.28 mln +3.09%), VZ (19.1 mln +2.16%), YHOO (16.36 mln +2.58%), NVDA (15.17 mln +0.4%), MU (13.78 mln +2.34%), ORCL (13.71 mln +2.25%), ALU (13.49 mln +2.99%), QCOM (12.7 mln +4.28%), AAPL (12.61 mln +2.74%),
- Healthcare: PFE (20.19 mln +2.18%), CTIC (18.31 mln +12.88%),
- Financial: C (157.89 mln +0.68%), BAC (50.62 mln +0.99%), WFC (16.55 mln -1.17%), JPM (12.36 mln -0.05%),
- Consumer Goods: F (35.18 mln +1.97%),
- Conglomerates: GE (35.48 mln +2.01%).
Today’s top relative volume (current volume to 3-month average daily volume)
- Technology: SANM (6.03x -17.65%), KONG (5.67x +1.22%), PEGA (5.38x +0.26%),
- Services: GES (11.79x -13.4%), MHS (8.63x -4.32%), GLNG (6.9x +4.58%),
- Industrial Goods: HRBN (4.93x +1.32%),
- Healthcare: CTIC (7.86x +12.88%), MAPP (4.93x +2.29%),
- Financial: RNR (5.23x -1.5%),
- Consumer Goods: HOGS (21.82x -2.05%), PC (16.11x +7.77%), WGO (10.22x -11.13%), CIGX (7.28x +14.79%), LULU (7.12x -5.15%), BTI (6.03x +2.15%), SUP (4.97x +4.32%),
- Basic Materials: NRP (27.66x -6.32%), KWK (8.72x -4.32%), CCJ (8.43x -4.26%)
Losers
- Technology: LEAP (12.15 -6.68%), CSIQ (11.08 -6.58%), HSOL (7.87 -6.53%), YGE (11.57 -5.7%), PWER (8.37 -5.33%), IDT (24.2 -4.87%), STM (11.59 -4.53%), THQI (4.48 -4.48%),
- Services: SAH (12.78 -6.3%),
- Financial: MTU (4.52 -6.42%), HBC (49.8 -5.14%), MFG (3.36 -4.82%), BBVA (11.89 -4.42%),
- Consumer Goods: CAJ (42.84 -6.32%), CZZ (12.23 -4.83%),
- Basic Materials: BPZ (5.4 -9.85%), HERO (5.2 -9.57%), CCJ (30.43 -6.56%), HDY (5.44 -4.58%), EGY (6.63 -4.47%)
Unusual Option Activity
Taking an early look at the options market, we found the following names that may be worth watching throughout the day for further indication of investor expectations given their options volume and implied volatility movement.
Stocks seeing volatility buying (bullish call buying/bearish put buying):
Calls:
- HRBN Apr 20 calls are seeing interest following earnings and CNBC discussion (see 12:29 comment) on four Chinese reverse merger cos (volume: 11.7K, open int: 1490, implied vol: ~90%, prev day implied vol: 83%)
Puts:
- iPath DJ-UBS Commodity Index TR ETN (DJP) Apr 47 puts (volume: 4030, open int: 0, implied vol: ~25%, prev day implied vol: 23%)
Stocks seeing volatility selling:
- LULU, GES, FDX implied vol is lower following earnings/guidance
Sentiment: The CBOE Put/Call ratio is currently: 1.10.. VIX: (27.38, -2.02, -2.0%).
This week is March expiration week — tomorrow Friday March 18 is the last day to trade Mar options.
*Please use the Talk to Us link at the top of the page to provide feedback on this comment as well as the OPTNX comments
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Japan Requests U.S. To Block Popular Websites
Market Summary
Sector Summary: S&P Health Care Index Modestly Underperforming Broader Market
The S&P Health Care Index is trading +1.25% higher vs a +1.5% gain for the S&P 500 some items of note today include:
In corporate news, Genomic Health (GHDX -0.1%) announced results from nine studies utilizing the Oncotype DX test in early-stage breast cancer patients… Alnylam Pharma (ALNY -1.2%) responded to Tekmira (TKMR -13%) complaint. Co maintained its guidance regarding its pipeline, partnership, and cash goals… Cardiovascular Systems (CSII +3.3%) received FDA 510(k) marketing clearance for stealth 360 orbital PAD system… China Biologic Products (CBPO -7.8%) delayed its annual filing; issued prelim 2010 results; co expects 2010 revs below consensus.
In earnings news, Medivation (MDVN -0.6%) reported a Q4 loss of $0.11 per share, $0.06 better than the consensus of ($0.17)… SciClone Pharma (SCLN -15%) delayed filing its 10-K; reported preliminary Q4 revenues in-line; expected to see 2010 EPS below consensus.
In notable research, Sequenom (SQNM +2%) initiated with an Outperform and $9 tgt at Oppenheimer… Cepheid (CEPH +0.3%) initiated with a Outperform and $33 tgt at Oppenheimer.
Sector Summary: S&P Consumer Discretionary Index +1.1%, modestly underperforming the broader market
The consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) up 0.6%, the S&P Retail (RLX) up 0.5% and the SPDR S&P Retail ETF (XRT) up 0.5%. Trading on upside: Delia*s (DLIA +5.1%) reported Q4 EPS of $0.02 ($0.7 mln), including a $2.1 mln tax benefit, may not compare to the ($0.06) single est; consensus; revs +1% YoY to $66.9 mln vs $67.50 mln single est… The Children’s Place (PLCE +1.4%) upgraded to Outperform from Market Perform at BMO Capital; tgt $58… Trading on the downside: Guess? (GES -12.0%) beat by $0.05, beat on revs; guided Q1 EPS below consensus, revs below consensus; guided FY12 EPS below consensus, revs in-line… lululemon athletica (LULU -4.5%) beat by $0.07, beat on revs; guided Q1 EPS in-line, revs below consensus; guided FY12 EPS above consensus, revs in-line… Nearly unchanged: Cato (CATO) beat single est by $0.01, guided Q1 EPS above single est, FY12 EPS in-line and restated FY10 results after inventory valuation method change…
Select casino/gaming names are seeing early strength. Some names trading higher include: MPEL +3.1%, MGM +2.4%, IGT +2.0%,BYD +1.8%, PNK +1.5%, LVS +0.5%
Japan related stocks rebounding. Some names in the green include: PC +7.2%, CHBT +5.6%, SUP +5.0%, SNE +5.3%, NSANY +4.5%,CEU +3.4%, HMC +3.2%.
Other notable mentions: Leaders: Smithfield Foods (SFD +1.1%) initiated with a Hold at Morgan Joseph… Laggards: Winnebago Inds (WGO -7.8%) beat by $0.05, missed on revs.
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