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If you are a fan of and an investor in the mobile web via smartphones and portable devices, then you do not even have to be a dedicated fan of Jim Cramer to become a fan of Jim Cramer for at least the time being. On tonight’s MAD MONEY on CNBC, Cramer endorsed this move to the mobile web as the next investor opportunity as huge opportunity for many companies in the space. But he also noted that he wants to buy the tech companies on pullbacks as he thinks the market for technology stocks is taking a little breather here. Cramer believes that there is room for all of these major companies to make major cash as a result of the switch to newer and fast smartphones and mobile web devices. He thinks there is room for all companies like Apple Inc. (NASDAQ: AAPL) for the iPhone, Research in Motion (NASDAQ: RIMM) for the Blackberry, and Palm Inc. (NASDAQ: PALM) for the new Pre smartphone. He also noted QUALCOMM Inc. (NASDAQ: QCOM) as a winner in the space.
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Daily Archives: June 10, 2009
Cramer’s Mobile Web & Digital TV Stocks (AAPL, RIMM, PALM, QCOM, ADI, BRCM, MRVL, RFMD, SNDK, STAR, SWKS, TXN, RSH)
Bond Yields Now Compete With Stocks For Investor Funds
It seems that rising bond yields may have finally started to compete for some of the investment dollars which have been either been investing in stocks or sitting on the sidelines. Today’s 10-Year Treasury Note auction for $19 billion pushed yields within sniffing distance of the 4% yield hurdle as rates went north of 3.99% for the new issuance. This puts tomorrow’s 30-Year Long Bond Auction front and center. This more than coincidental with the stock performance of today.
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Changing CEO’s During Palm Pre Launch, Risky Notion (PALM)
What do you do as an investor when you have a hot product launch that is the entire future of a company and a new CEO gets named to replace a long-term company leader? Palm Inc. (Nasdaq: PALM) just launched the Pre smartphone and today after the close announced that the board of directors has appointed Jon Rubinstein as Chairman and CEO upon the departure of Ed Colligan.
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Is Stimulus Spending Fast or Slow?
Here at ProPublica, we’re closely watching stimulus projects set up by the Transportation Department. Given all the hand-wringing over how quickly—or how slowly, depending on how you look at it—the department is spending stimulus funds, it’s worth taking a second look at the numbers.
To date, the department has obligated $15.7 billion, according to Transportation Secretary Ray LaHood’s latest blog post last night. That is a third of the department’s overall stimulus budget. Read More
Dell Shows More Corporate Bond Market Healing (DELL, MSFT)
Dell Inc. (NASDAQ: DELL) raised $1 billion in the corporate bond issuance markets today. While these are shorter-term than many others, this is just further and further evidence that corporate bond spreads are tightening and that investors are more and more willing to personally underwrite debt for corporate America. We received some preliminary pricing data from one of the underwriting firms, although we would throw out the caveat that the “final-final” data could look slightly different than the pre-final pricing data we were given.
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Federal Deficit Spending Passes Alarming Levels
It seems that the “Treasury Budget” is in need of a name change just like the “Trade Balance” has seen. We can all finally start to formally call both of these “Deficits.” The “Budget Deficit” for May 2009 came was $189.65 billion. To date, we are sitting on a deficit of $991.95 billion for all of 2009. That is as of end of May, so as of June 10 we are now already at $1 trillion… There does not appear to be much help on the horizon.
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Beige Book Keeps Looking in Rear-View Mirror
The Federal Reserve’s Beige Book is noting improvements in most local economies, although as you might expect there is the normal pause or caution still underlying the combined reports. The overall economy was still described as weak but with slowing declines as five of twelve districts showed moderating declines.
Mortgage Rates: The Housing Market Is More Fragile Than Expected
Mortgage rates are near multi-year lows, so it would seem that if buyers were going to be lured back into the housing market, now would be the time.
But, even the most modest increase in the rate that buyers have to pay for home loans appears to be crushing demand. The Mortgage Bankers Association said that the average 30-year fixed mortgage rate jumped .32% point in the June 5 week to 5.57 %. Loan applications fell back to a rate not seen since November. Read More
Surprise Short Selling Changes (DNDN, DRYS, ETFC, FLEX, GRMN, SIRI, AMTD)
After looking through the short interest changes for the end of May. We saw unusual gains in short selling increases in Dendreon Corporation (NASDAQ: DNDN), DryShips Inc. (NASDAQ: DRYS), E*TRADE Financial Corp. (NASDAQ: ETFC), Flextronics International (NASDAQ: FLEX), Garmin Ltd. (NASDAQ: GRMN), Sirius XM Radio Inc. (NASDAQ: SIRI), and TD Ameritrade Holding (NASDAQ: AMTD). As you will see below, we included the stocks and the short interest changes:
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DOE Inventories Confirms EIA Trends (USO, OIL)
The weekly DOE inventories confirmed the EIA data last night, and the data is about just as bullish for oil and energy prices. The United States Oil (NYSE: USO) ETF and iPath S&P GSCI Crude Oil Total Return Index ETN (NYSE: OIL) are both responding positively.
Crude oil inventories fell 4.38 million barrels to 361.595 million barrels. Gasoline inventories also came in lower by -1.553 million barrels at 201.649 million barrels. We were looking for drops in these numbers, but Dow Jones had noted some consensus estimates as being -700,000 on crude oil inventories. They also had gasoline inventories expected to show a gain of about 800,000 barrels.
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Short Sellers Confused in Alternative Energy Bets (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, JASO, LDK, SFUN, SPWRA, STP)
We have seen the new short interest data out of the NASDAQ and NYSE for the end of May reports. There are many mixed bets in the alternative energy sector. While some of these are large bets on the surface, overall there was a very small change in the latest short interest data compared to months past.
COMPANY NAME (TICKER)……….. MAY 29… Change from May 15
Canadian Solar Inc. (CSIQ)…………2,549,840 -4.3%
Capstone Turbine Corp. (CPST)…… 17,568,058 +5.8%
Clean Energy Fuels Corp. (CLNE)….3,919,108 -0.1%
Energy Conversion Devices (ENER) 12,649,722 +3.7%
Evergreen Solar, Inc. (ESLR)………. 20,225,435 +0.5%
First Solar, Inc. (FSLR)……………… 6,995,776 -2.4%
FuelCell Energy, Inc. (FCEL)………. 5,861,532 +1.7%
GT Solar International (SOLR)……. 5,558,018 -9.7%
JA Solar Holdings, Co. (JASO)……. 6,652,651 +10.4%
LDK Solar Co. Inc. (LDK)…………… 13,719,877 +4.1%
Solarfun Power Holdings Co. (SFUN) 1,337,324 -7.1%
SunPower Corp. (SPWRA)……………. 13,885,421 +9.7%
Suntech Power Holdings Co. (STP)… 10,706,960 +8.1%
Usually you see a clear trend or direction in the alternative energy sector. That does not appear to be the case. As oil has risen steadily, the downside of betting against these may be to steep and managers telling their clients they bet against the rally after all the pain seen already is probably more than a tough sell.
JON C. OGG
JUNE 10, 2009
AMD Taking Back Market Share from Intel (AMD, INTC)
The worst may have been seen in the market share war for Advanced Micro Devices Inc. (NYSE: AMD) against Intel Corp. (NASDAQ: INTC). A report from late yesterdayfrom iSuppli said that the quarterly growth sequential gains came to an end in the first quarter of this year. That is good news for AMD, but the issue of falling revenue persists at both processor and chip makers.
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Sprint (S) Still Near Top Of MSN “Worst Customer Service” List
Palm (PALM) may not have had much of a choice in terms of which cellular company was going to market its new Pre. AT&T (T) and Verizon Wireless (VZ)(VOD) were probably not interested. Palm’s marriage with Sprint (S) may hurt the handset firm’s chances at a turnaround. Sprint’s customer service still gets remarkably poor ratings. Read More
Top Analyst Upgrades (ALNY, DB, DSCM, ZEUS, SEPR, X, YHOO)
These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street research calls early this Wednesday morning:
Alnylam (ALNY) Started as Buy at Jefferies and at Roth.
Deutsche Bank (DB) Raised to Neutral at JPMorgan.
Drugstore.com (DDSCM) Started as Buy at Janney Montgomey Scott.
Olympic Steel (ZEUS) Raised to Buy at KeyBanc.
Sepracor (SEPR) Started as Buy at Sun Trust Robinson Humphrey.
US Steel (X) Raised to Buy at KeyBanc.
Yahoo! (YHOO) Raised to Buy at Soleil.
JON C. OGG
Top Analyst Downgrades (CRDN, FSLR, NUE, RS, SINA, TLB)
These are some of the top pre-market analyst downgrades and cautious research calls we have seen early this Wednesday morning:
Ceradyne (CRDN) cut to Underperform at Wachovia; Cut to Accumulate at ThinkEquity.
First Solar (FSLR) Cut to Hold at Soleil.
Nucor (NUE) Cut to Hold at KeyBanc.
Reliance Steel (RS) Cut to Hold at KeyBanc.
Sina (SINA) Cut to Neutral at Pali.
Talbots (TLB) Cut to Market Perform at FBR.
JON C. OGG
Short Interest In Banks Plunges
The short interest in most large banks fell very sharply for the period ending May 29, an indication that traders believe that TARP repayments and ongoing strong earnings mean the fate of American financial firms will continue to improve.
Housing Inventory Down, But Figures Not Meaningful
Housing inventory came down a bit in May, but not enough to put a real foundation on faltering home prices. ZipRealty reported “the supply of homes available for sale in 28 major metropolitan areas at the end of May was down 3.9% from a month earlier.”
ZipRealty figures do not include many house in foreclosure because banks have not put all of them on the market. Read More
With Pay Cap Restrictions Faltering, Will Talent Return To Wall St.?
Wall St. firms and the large money center banks with investment and M&A arms have continued to insist that their best talent will head to private equity firms and hedge funds as opportunities for multi-million dollar paydays disappear. The notion was probably flawed from the start. The number of people who work at private financial firms is fairly small. They certainly cannot grow enough to handle a mass exodus of Wall St. talent. Read More
The Theory The Low Demand Will Moderate Oil Prices Dies
The theory that the recession would mitigate the price of oil had all the trappings of being true. Consumption in the US, UK, EU, and Japan happen to be down substantially. Industrial production has been dropping at a near-record pace. Consumer spending, especially on gas, has dropped. Fewer people are driving and those who are driving drive fewer miles. Read More
Signs That Ford (F) Sales Are Dipping
Over the past week, the 24/7 Wall St.–The Channel Checkers poll surveyed Ford dealerships to gauge business trends at the ten retailers. We asked the following questions:
1. What is the best selling vehicle currently?
2. Are there any special deals or promotions now?
3. Do you offer free satellite radio?
4. Has there been an increase in sales in the past few months? Read More
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