Tag: NASDAQ
Morning Rage 9.20.2012
Bad news across the Atlantic continues with a sharp loss in the services industry for European countries. Yesterday, housing starts and permits reports were lower than expected, but still within range of analysis expectations. Existing home sales grew 7.0%.
Rite Aid Corp. (RAD| +0.77% [1.34]) released earnings reports this morning and posted 41.4M in losses, an improvement from the same quarter of last year’s 94.8M losses. Analysts expected a loss of $0.07 a share and Rite Aid beat the expectation, losing only $0.05 a share.Weekly jobless claims reports are released this morning at 8:30am EST with an expected claim drop at about ten thousand this week. The Philadelphia Fed survey will follow at 10:00am, which is an index of general business and manufacturing conditions. The index is expected to decline, but at a lesser pace than last month.
Other post-earnings stocks to keep your eyes on are Bed, Bath, and Beyond (BBBY | 68.79) which is down $-3.44, or 5%, after higher costs left earnings unable to meet analysts’ expectations. Expectations were higher this quarter because of improved government data on same-industry sales.
Market Recap 9.18.2012
The iphone 5 is expected to ship on Friday and analysts predict that as many as 10 million units will be sold before the end of the fiscal year. Analysts also predict that the iPhone 5 may sell as many as 250 million units in its lifetime. This could make the iPhone one of the most successful products Apple has ever launched.
Rumors of a potential release from the Strategic Petroleum Reserve continued to circulate pushing oil prices lower today. Brent traded higher for seven sessions in a row before falling yesterday and today.
Things to look for this week:
Wednesday- Weekly mortgage apps, housing starts, existing Home Sales, AutoZone, General
Mills, Adobe Systems, Bed Bath & Beyond
Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.
Friday- iPhone 5 Ships.
Halftime Report 9.17.2012
Apple is trading up today gaining 5.84 (+0.83%). Pre-sales of the Apple iPhone 5 have shattered the tech giant’s previous records with 2 million of the phone being sold in the first 24 hours they were available. The record was held by the iPhone 4s which saw 1 million pre-orders on its first day of availability. Long line are already forming outside at New York City’s 5th Avenue Apple Store in anticipation of the product release.
Things to look for this week:
Tuesday- Housing Market Index, FedEx earnings
Wednesday- Existing Home Sales, AutoZone, General Mills, Adobe Systems, Bed Bath & Beyond
Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.
Friday- iPhone 5 Ships.
James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM
Halftime Report 9.11.2012
Chinese Premier Wen Jiabao has announced that China will indeed meet their growth target for the year. Markets have long been concern over slowing growth in China. The German Constitutional Court has also announced that their ruling on the European bailout fund will be announced tomorrow.
The FOMC meeting is scheduled to begin tomorrow with forecasts scheduled to be released on Thursday. Bernanke’s press conference is also scheduled for Thursday. Many analysts expect that the Federal Reserve Bank will launch a third round of quantitative easing, but there is still some skepticism over whether or not Bernanke will have enough votes to push the program through.
Moody’s has announced that they may downgrade the U.S. government’s credit rating if they cannot lower the nation’s debt ratio in the upcoming budget negotiations.
Indicies are up with the Nasdaq and S&P 500 both up around 6 points each.
James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM
Halftime Report 9.7.2012
Both the Dow and NASDAQ fell below its opening price today by 11:00 am, but the S&P 500 stands alone ahead 0.30% for the day sitting at 1,436.52. US indices futures have stayed put as well. Metals futures gained substantial points today with gold, silver and copper up 1.99%, 3.02% and 3.57% respectively. Silver is sitting just below its high of the day at 33.67 and a high of 33.74. Copper is right below its daily high at 3.6425 with a high of 3.6525. Natural Gas just moved away from its low of the day at 2.6740 with a low of 2.6660, down 3.67%.
The Cooper Companies, Inc. (COO | 93.33) hit a new all time high today gaining 7.32 when the market opened to sit around 93. The gain is representative of the company’s third quarter growth in income of almost 50% from last year. Analyst expected earnings at $1.29 per share but the company outperformed with earnings of $1.36 per share.
Facebook (FB | 19.11) has shown three straight days of growth up almost 2 dollars from its new 52 week low on Tuesday. How long can Zuckerberg’s statement keep Facebook from continuing it’s slope downward? The 52-week at-the-money implied volatility has touched its low today. Put/call sentiment is bullish and the stock might just continue its slow climb up next week.
Morning Rage 9.7.2012
Leading the market’s growth yesterday was Men’s Warehouse Inc. (MW) at 19% ending the day up about 6 points. After hours MW continued to grow another 0.5%. MW’s 52-week low and high is 24.50 and 40.97 respectively. The specialty retailer of men’s suits and tuxedo rentals products in the US and Canada began to lose value this year when it missed on a third earnings estimate in a row, dropping the stock 20 points in June 2012. The CFO left in July. The stock then surged to a four month high after Q2 earnings results that were $0.06 cents higher than last year and $0.03 cents higher than estimates. Expect the stock to continue to rely on earnings for any movement.
Yesterday’s morning rage discussed Navistar International Corp (NAV | 23.97). The stock was one of the bigger movers yesterday, growing 17.44%. The stock moved on earnings Wednesday and yesterday seemed to connect to the new CEO’s statement to focus on returning to profitability while switching to different engines in order to meet EPA standards. Navistar’s expenditures have been high because of this switch, and they are expecting to report losses in the fourth quarter.
Look out for the employment situation report released by the labor department today at 8:30am EST. Employment situation is a set of labor market indicators based on household surveys. The prior level of unemployment and number of private payrolls were at 8.3% and 172k. The new levels are expected to sit around 8.3% and 134,000.
Market Recap 9.6.2012
The S&P 500 closed at session highs of 1432.10 for a gain of 2.04%. The Nasdaq also closed at session highs up 2.17%. The DJIA closed at a session high of up 244.52 points for a gain of 1.87%.
A huge day for equities across the board, with the S&P 500 logging its best day since January 2008.
James Ramelli UIUC graduate in Finance. Email: james@keeneonthemarket.com Follow: @Jim_KOTM
Stocks Hit 4 Year Highs 9.6.2012
The S&P 500 is currently up around 1.91% with financials and materials leading the rally, the DOW is up 1.73%, and the Nasdaq is up over 2%. The VIX has fallen to near 16.
JPMorgan and Bank of America are leading the rally in the Dow up 3.8% and 4.54% respectively.
James Ramelli UIUC graduate in Finance. Email:james@keeneonthemarket.com Follow: @Jim_KOTM
Halftime Report 9.5.2012
DIS hit a new all time high today and, so far in 2012, DIS is up 36%.“The Avengers” and moreover the Marvel acquisition is proving to be a great move for the equity.
In the financial sector, GS broke above the 150-day moving average, which resisted price on two prior occasions in the last two weeks (8/21 and 9/4) for it has been grinding horizontally.
Other stocks of interest include AAPL, which battled its was back to unchanged after being down earlier today; even in the face of a slow market.
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