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Morning Rage 10.10.2012

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Alcoa is down twelve cents in pre-market trading today. Dow Futures are down twenty-two and S&P futures are down three quarters of a point. Crude futures are down a quarter of a point and gold futures are up one half of a point.

Earnings movement will continue today with Costco (COST), up almost 3% in pre-market trading. Net sales in the fourth quarter were up 14% from fourth quarter of the year before, with same store sales up 5%. Profits increased by 27% from the previous quarter. Yum! Brands (YUM) announced beating third quarter estimates, up about 23% from the same period last year. The stock is higher by about 4.7%.

Economic reports today include MBA purchase application, which measures new applications at mortgage lenders. Also, US treasury budget report around 2:00pm EST, which can be a predictor of future fiscal policy. The report measures the surplus or deficit of the federal government. 

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Market Recap 9.7.2012

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The biggest movers today were on earnings; Lululemon Athletica Inc. and Smith & Wesson Holdings Corp. Both beat analysts projections and gained over 10% on their stock prices.

Lululemon (LULU) reported a net revenue increase of 33% to $282.6 million from $212.3 million in the second quarter fiscal 2011. Gross profit for the quarter increased 28% to 155.8 million and made up 55.1% of net revenue.

Pandora (P) stock was crushed today on an announcement from Apple, Inc. (AAPL), stating plans to develop a competing internet radio product. Apple has been aggressively competing with other companies who have their service on Apple products, like Google Maps. P was down over 16% today ending at $10.47.

Monday, the Bureau of Economic Analysis (BEA) will release its monthly report on international trade. The current global marketplace has been weak; Some of the stronger european economies have begun to struggle and China’s manufacturing has been shrinking for months now. The report on monday is composed of goods and services that are exported and imported into the US, calculating the balance between the two values. The report will primarily affect currencies.