Commerce Department reported retail sales rose 1.4 % in October from a 2.3% drop in September, analysts expected a 0.8% increase for October. General Motors said it lost $1.2 billion in the third quarter, it also said it would begin to repay government loans in December. Stocks rallied today after the Commerce Department’s report, the Dow Jones Industrial Average rose 137 points, the Nasdaq rose 28 points and the Standard & Poor’s 500 Index rose 15 points. Bond prices rose, the yield on the …
Daily Market Commentary for November 16, 2009
GM
GM reported an overall loss for the third-quarter but is staying optimistic about the future of the company; they said they will start to repay some of the money the government loaned them. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1609.aspx
Economic data released today:
Retail Sales:
U.S. October Retail & Food Sales rose 1.4%; compared to consensus of an increase by 0.9%; U.…
Whether it be correlation or causation, justified or not, stocks have traded in a perfect inverse-correlation with the US Dollar for more than two months now. This correlation has been intact for over a year now, but has grown stronger as the rally off the March lows progressed. (Perhaps because when you can no longer justify stock price action based on technical nor fundamental merit, you gotta have some belief to cling to.) Have a look at a chart of the SPY and UDN to see it for yourself.
…
Are you in position for the traditional best market time of the year? I'm talking about the period of time between Thanksgiving to January 1. I'm on record of a DOW hitting 10800 this year with possibly touching 11000. We're right on track as we approach the 'best time of the year'. It's time to get your ducks (equities) in order as there is nothing on the horizon to think this period of time will do otherwise.
(PLA) - buy
Ongoing potential talks of the sale of Playboy provided a sharp jump in share price in past few days which could continue in the short term.
(C) - buy
Citigroup potential sale of Japanese call-center operator Bellsystem24 Inc to Private-equity firm Bain Capital LLC could give boost to share price.
(FDX) - buy
FedEx may climb higher given their growing exposure to overseas markets such as China.
(TFSL) - short
TFS Financial surge in souring loans due to an elevation in tu…
Sector Rotation (Back by popular demand!)
We have three winners! XLE, XLK, XLB
Two out of three recommend overweight in Energy (XLE), Information Technology (XLK) and Materials (XLB)
Your road map to success (Part V)
Sector Rotation (Back by popular demand!)
As I was researching recommended weights, this is the information I found.
S&P, Ned Davis, Schwab
Consumer Discretionary (XLY): = + =
Consumer Staples (XLP): = - =
Ener…
Daily Market Commentary for November 13, 2009
Trade Deficit
Stocks rose slightly today as the Commerce department reported a larger-than-expected increase in the trade deficit, topping analysts’ expectations. (Read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/marketcommentarynovember1309.aspx
Economic data released today:
Trade Balance:
U.S. September Trade Deficit $36.5B; compared to consensus of a deficit of $32.0B; August Trade Balance Revised to Defi…
The penny dawg I mentioned yestermaday is attempting to hit the low end o'me "zone of influence" now. Yestermaday it traded to a nonconfirmed low of .86 centavos which is the price point to now focus on. First majer ray-ziss-tance is 1.50-1.38. My zone runs from .96 to .82 centavos. I won't be buying the low end cuz I don't want to hold a new buy like this thru the weekend. My plan is to let it run thru .86 centavos to a nonconfirmed high...and then buy the pullback. NE1 want to bet that the pul…
I wrote an article comparing two insurance companies AJG and MMC. In a time of high unemployment, sliding consumer spending and the weakening dollar; an insurance company is a great way to better diversify your financial sector when the risk of holding other financial institutions is high and the entire regional bank industry has been downgraded to a sell. To read more view my blog by clicking below
http://stocklook.blogspot.com/2009/11/insurance-company-stocks.html
When I was at the first sight of DARA, My intuition told me that this would be another LGND in the future. I know so many people were impressed by LGND when it paid out $2.5/share after it sold 4 of its drug candidates in 2007. DARA is just like LGND at the early stage which has many catalysts in the near term and long term potential.
Let’s take a quick look of DARA’s pipeline:
DARA is a biopharmaceutical company which dedicates to small molecule drug development. It has two leading…
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Analyst Blog Posts
I want to talk about the challenge of exponential growth in a finite world. This is a concept that while on its surface seems easy to get, most people don’t fully grasp it.
Any growth rate that is positive will lead to a doubling in size eventually -- the higher the growth rate, the quicker the doubling. A quick "back of the envelope" method of figuring it out is known as the rule of 70. If you divide a growth rate into 70, it will roughly give you the time for something to double. Thus …
A subsidiary of CenterPoint Energy Inc. (CNP) and NextEra US Gas Assets LLC, an affiliate of FPL Group Inc. (FPL) signed an agreement to explore the construction of a pipeline in north Louisiana. The new pipeline will transport natural gas from the Haynesville Shale area.
The expected capacity of the potential new pipeline is up to 2.0 billion cubic feet per day. The pipeline would connect Haynesville Shale natural gas production to markets in north Louisiana and CenterPoint Energy's Perryvill…
Warren Buffett, the CEO and Chairman of Berkshire Hathaway (BRK.A)/(BRK.B), announced on Thursday to borrow $8 billion of loan for the acquisition of Burlington Northern Santa Fe Corporation (BNI). Berkshire Hathaway, which already owns a 22% stake in Burlington Northern, announced earlier this month it would acquire the rest for a total value of $34 billion. Buffet agreed to pay $100 a share in cash and stock to buy the rest of the company.
The $8 billion loan that will be provided by JPMorga…
Stone Energy Corporation (SGY) reported third-quarter 2009 earnings of $1.06 per share, beating the Zacks Consensus Estimate of 66 cents and the year-earlier earnings of $1.04. The robust results were driven by increased production volumes and reduced costs.
Production during the quarter averaged 239 million cubic feet of gas equivalent per day (MMcfe/d), compared to average daily production of 209 MMcfe/d in the prior quarter and 129 MMcfe/d in the year-ago quarter. This increase was primaril…
J.M. Smucker Company (SJM) reported second quarter results with earnings of $1.22 per share, which was well above the Zacks Consensus Estimate of 99 cents. Quarterly earnings were up 21% compared to $1.01 reported in the prior-year quarter.
Net sales for the quarter grew 51.7% year-over-year, primarily due to the addition of the Folgers coffee business. Excluding Folgers, volumes increased 1%, driven by Pillsbury, Crisco oils, Jif peanut butter and Hungry Jack brands. These were partially offs…
GameStop Corporation (GME) the biggest video game retailer, reported third quarter earnings of 32 cents per share, slightly above the Zacks Consensus Estimate of 31 cents. The reported earnings were 6% lower than prior-year quarter.
Revenue for the quarter increased 8.2% to $1,834.7 million compared to $1,695.7 million reported in the year-ago quarter. The company’s top-line benefited from strong new title releases and price cuts on all current generation platforms.
While new software s…
This morning, Pozen (POZN) initiated phase III studies on PA-325/40, a fixed-dose combination of 325mg enteric coated aspirin and 40mg of immediate release omeprazole. The phase III program will consist of two pivotal trials conducted under a Special Protocol Assessment (SPA) agreed upon with the U.S. FDA, and one long-term safety study.
The two pivotal programs will enroll approximately 500 patients per study at over 100 sites around the U.S. The primary endpoint of the pivotal studies is the…
Yesterday, after market close, ADC Telecommunications Inc. (ADCT) declared financial results for the fourth quarter of fiscal 2009. Earlier, the Board of Directors of ADC had taken a decision to change its fiscal year from Oct 31 to Sep 30. As a result, fiscal year 2009 ended on Sep 30, 2009, which means the company got only two months as its fourth quarter. The fourth quarter of fiscal 2009 would, therefore, not be comparable to either the prior-year quarter or the previous quarter. For this r…
Recently, AstraZeneca plc (AZN) announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for its blood clot preventer Brilinta (ticagrelor). Brilinta is an oral reversible P2Y12 adenosine diphosphate receptor antagonist for arterial thrombosis aimed to compete with the blockbuster drug Plavix which is co-developed by Bristol-Myers Squibb (BMY) and Sanofi-Aventis (SNY). On Oct 26, 2009, AstraZeneca filed for approval of the drug with the European Me…
Limited Brands Inc. (LTD) reported results for the third quarter of fiscal 2009 with earnings of 2 cents per share. Earnings were below the Zacks Consensus Estimate of 6 cents but were up 50% compared to the prior-year quarter.
Net sales for the quarter declined 3.5% year-over-year to $1.7 billion due to a 2% decline in comparable same store sales (comps).
According to channels, comparable same store sales of Victoria’s Secret channel contracted 4% as bra sales rose only modestly by…
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November 16, 2009
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