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24/7 Wall St. Closing Bell — May 25, 2012 (EBAY, LULU, SI, CRM, FSLR, CRMT, MENT, POST, FRO, AMSC, DRYS, KUTV, SAFM, SHIP, GAME, TLB, PAY, FB)

Paul Ausick — Fri, 25 May 2012 18:04:01 +0000

Today’s edition of the Closing Bell is being published shortly after 2:00 p.m. US markets are closed Monday to observe the Memorial Day holiday. We’ll resume our normal schedule next Tuesday.

The three major US stock indexes opened marginally higher this morning as more European countries come out in support of a eurobond, a proposal Germany has flatly declined to discuss. The impasse weighed on European markets and the weight crossed the Atlantic when US markets opened today. The only new data point in the US today was better-than-expected reading on Reuters/University of Michigan consumer sentiment index (our coverage here). The US dollar index rose today, now up 0.07% at 82.406. The GSCI commodity index is up fractionally at 618.78, with commodities prices mixed. WTI crude oil is trading up 0.12% at $90.77/barrel, and Brent crude trades up 0.31% at $106.88/barrel. Natural gas fell -4.4% today to $2.53/thousand cubic feet. Gold is trading up 0.52% today, at $1,567.90/ounce.

At 2:00 p.m. ET, the DJIA is down about 45 points at 12,484.68 (-0.36%), the NASDAQ is up more than 3 points (0.12%) at 2,842.72, and the S&P 500 is down -0.02% or less than 1 point at 1,320.43.

There were several analyst upgrades and downgrades today, including Ebay Inc. (NASDAQ: EBAY) maintained as ‘buy’ with a target price of $44 at BofA/ML; Lululemon Athletica (NASDAQ: LULU) cut to ‘hold’ at KeyBanc; Siemens AG (NYSE: SI) raised to ‘buy’ at Deutsche Bank; Salesforce.com (NYSE: CRM) raised to ‘outperform’ at Oppenheimer; and First Solar Inc. (NASDAQ: FSLR) maintained as ‘buy’ with a target price of $30 at BofA/ML.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: America’s Car-Mart Inc. (NASDAQ: CRMT) is down -7.8% at $41.52; Mentor Graphics Inc. (NASDAQ: MENT) is down -12.7% at $13.28; Post Holdings Inc. (NYSE: POST) is up 6.8% at $29.89; and Frontline Ltd. (NYSE: FRO) is up 8.8% at $5.42.

On Tuesday, we are scheduled to get earnings reports from American Superconductor Corp. (NASDAQ: AMSC), DryShips Inc. (NASDAQ: DRYS), Ku6 Media Co. Ltd. (NASDAQ: KUTV), Sanderson Farms Inc. (NASDAQ: SAFM), Seanergy Maritime Holdings Group Corp. (NASDAQ: SHIP), and Shanda Games Ltd. (NASDAQ: GAME).

We’ve also reviewed this week some potential value stocks among major oil companies, gold & silver miners, conglomerates, industrials, retail, semiconductor, and solar stocks.

Other standouts from today include the following stocks:

The Talbots Inc. (NYSE: TLB) is down -38.9% at $1.57. The clothing retailer failed to reach a deal with a potential private equity buyer.

Verifone Systems Inc. (NYSE: PAY) is down -15% at $38.27. The electronic payment systems company forecast a weaker-than-expected third quarter.

Facebook Inc. (NASDAQ: FB) is down -3.8% at $31.78. The social network company continues to seek a floor for its stock price.

Stay tuned for Tuesday. US markets are closed Monday to observe the Memorial Day holiday. We have also noted the following events on the schedule for Tuesday (all times Eastern):

9:00 a.m. – S&P Case-Schiller housing price index
10:00 a.m. – Conference Board consumer confidence survey
10:00 a.m. – State Street investor confidence index
10:30 a.m. – Dallas Fed manufacturing survey
11:30 a.m. – 3- and 6-month bill auction

Have a great long weekend.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMSC, CRM, CRMT, DRYS, EBAY, FB, FRO, FSLR, GAME, KUTV, LULU, MENT, PAY, POST, SAFM, SHIP, SI, TLB

24/7 Wall St. Closing Bell — May 24, 2012 (HPQ, ARMH, DUK, NOV, MET, FRED, HNZ, TIF, COST, TD, CRMT, MENT, POST, FRO, JDAS, NTAP, ROSG, P)

Paul Ausick — Thu, 24 May 2012 20:05:29 +0000

The three major US stock indexes opened lower this morning following a weak report on Chinese and German PMI readings (our coverage here and here). New US jobless benefits claims came in pretty much as expected and Kansas City Fed manufacturing data significantly beat estimates. Tech stocks soured the Nasdaq today and weighed on the other indexes as well. The US dollar index rose today, now up 0.27% at 82.318. The GSCI commodity index is down about 2% at 625.52, with commodities prices mixed. WTI crude oil closed up 0.9% at $90.66/barrel, staunching a two-day slide, and Brent crude trades up 0.92% at $106.53/barrel. Natural gas fell -3.3% today to $2.647/thousand cubic feet, following another inventory build (our coverage here). Gold settled up 0.6% today, at $1,557.60/ounce.

The unofficial closing bells put the DJIA up nearly 34 points to 12,530.91 (0.27%), the NASDAQ fell nearly 11points (-0.38%) to 2,839.38, and the S&P 500 rose 0.14% or nearly 2 points to 1,320.73.

There were several analyst upgrades and downgrades today, including Hewlett-Packard Co. (NYSE: HPQ) maintained as ‘neutral’ but estimates raised at Credit Suisse; ARM Holdings plc (NASDAQ: ARMH) raised to ‘buy’ at S&P; Duke Energy Corp. (NYSE: DUK) raised to ‘buy’ at UBS; National Oilwell Varco (NYSE: NOV) raised to ‘buy’ at SocGen; and MetLife Inc. (NYSE: MET) raised to ‘buy’ with a target price of $46 at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Hewlett-Packard is up 3% at $21.72 (more coverage here); Fred’s Inc. (NASDAQ: FRED) is down -2.5% at $14.05; H.J. Heinz Co. (NYSE: HNZ) is down -0.8% at $53.41; Tiffany & Co. (NYSE: TIF) is down -7.5% at $57.17 after posting a new 52-week low of $55.75 earlier today (more coverage here); Costco Wholesale Corp. (NASDAQ: COST) is up 1% at $84.16 (more coverage here); and The Toronto-Dominion Bank (NYSE: TD) is down -0.3% at $76.54.

Tomorrow we are scheduled to get earnings reports from America’s Car-Mart Inc. (NASDAQ: CRMT), Mentor Graphics Inc. (NASDAQ: MENT), Post Holdings Inc. (NYSE: POST), Frontline Ltd. (NYSE: FRO), and JDA Software Group Inc. (NASDAQ: JDAS).

We’ve also reviewed some potential value stocks among major oil companies, gold & silver miners, conglomerates, industrials, retail, and semiconductor stocks.

Other standouts from today include the following stocks:

Rosetta Genomics Inc. (NASDAQ: ROSG) is up nearly 52% at $17.07. The medical device maker is still booming on last week’s announcement that treatment would be covered by Medicare.

Pandora Media Inc. (NYSE: P) is up 12.5% at $11.62. The Internet radio company reported better-than-expected results last night. More coverage here.

Stay tuned for Friday. Philadelphia Fed President Charles Plosser is giving a speech. We have also noted the following events on the schedule (all times Eastern):

9:55 a.m. – Reuters/University of Michigan consumer sentiment index

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ARMH, COST, CRMT, DUK, FRED, FRO, HNZ, HPQ, JDAS, MENT, MET, NOV, NTAP, P, POST, ROSG, TD, TIF

24/7 Wall St. Closing Bell — May 23, 2012 (FB, PCX, BX, AMAT, DELL, AEO, BIG, HRL, STP, TSL, FRED, HNZ, MMYT, TIF, TD, COST, PETM, STX)

Paul Ausick — Wed, 23 May 2012 20:05:55 +0000

The three major US stock indexes opened lower this morning after European leaders disagree on a fiscal response to the continent’s debt crisis(our coverage here). New US home sales were slightly above the consensus estimate, but made little difference in the slide. As the day wore on, more bad news from Europe sent crude oil prices tumbling and the dollar rising in the currency markets (our coverage here). The US dollar index rose today, now up 0.76% at 82.115. The GSCI commodity index is down fractionally at 628.23, with commodities mostly lower on the stronger dollar. Orange juice, cocoa, and cotton were today’s big losers. WTI crude oil closed down -2.1% at $89.90/barrel, its lowest settlement since October, and Brent crude trades down -2.51% at $105.69/barrel. Natural gas rose just 0.52% today to $2.72/thousand cubic feet. Gold settled down -1.8% today, at $1,548.40/ounce.

The unofficial closing bells put the DJIA down nearly 7 points to 12,496.07 (-0.05%), the NASDAQ rose about 11 points (0.39%) to 2,850.12, and the S&P 500 rose 0.17% or about 2 points to 1,318.85.

There were several analyst upgrades and downgrades today, including Facebook Inc. (NASDAQ: FB) started as ‘buy’ with a target price of $40 at Needham (more coverage here); Patriot Coal Corp. (NYSE: PCX) cut to ‘hold’ at Deutsche Bank; The Blackstone Group LP (NYSE: BX) raised ‘buy’ at Sterne Agee; Applied Materials Inc. (NASDAQ: AMAT) raised to ‘neutral’ at Goldman Sachs; and Dell Inc. (NASDAQ: DELL) cut to ‘neutral’ at Mizuho and maintained as ‘underperform’ with a $14 target price at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dell is down -16.8% at $12.55 after posting a new 52-week low of $12.31 earlier today (more coverage here); American Eagle Outfitters Inc. (NYSE: AEO) is up 1.4% at $20.07; Big Lots Inc. (NYSE: BIG) is up 4% at $36.20; Hormel Foods Corp. (NYSE: HRL) is up 1.2% at $29.54; Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 1.5% at $2.01 (more coverage here); and Trina Solar Ltd. (NYSE: TSL) is up 4.9% at $5.59.

Tomorrow we are scheduled to get earnings reports from Fred’s Inc. (NASDAQ: FRED), H.J. Heinz Co. (NYSE: HNZ), MakeMyTrip Ltd. (NASDAQ: MMYT), Tiffany & Co. (NYSE: TIF), The Toronto-Dominion Bank (NYSE: TD), and Costco Wholesale Corp. (NASDAQ: COST).

Other standouts from today include the following stocks:

PetSmart Inc. (NASDAQ: PETM) is up 13.3% at $62.99 after posting a new 52-week high of $63.19 earlier today. The company reported better-than-expected earnings and forecast more good things to come.

Seagate Technology PLC (NASDAQ: STX) is down -2.4% at $25.72. The disk drive maker is buying France-based LaCie SA for $186 million.

Stay tuned for Thursday. New York Fed President William Dudley is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – Durable goods orders
8:30 a.m. – New claims for unemployment benefits
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – Kansas City Fed manufacturing index
1:00 p.m. – 7-year note auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AEO, AMAT, BIG, BX, COST, DELL, FB, FRED, HNZ, HRL, MMYT, PCX, PETM, STP, STX, TD, TIF, TSL

24/7 Wall St. Closing Bell — May 22, 2012 (GPS, DRYS, DPZ, LYB, TSLA, AZO, BBY, RL, WSM, EXPR, AEO, BIG, HRL, NTAP, P, STP, TSL, PCX, BNHN, FB)

Paul Ausick — Tue, 22 May 2012 20:06:11 +0000

The three major US stock indexes opened slightly higher this morning following their European and Asian counterparts, none of which were the least concerned about a downgrade to Japanese debt or dire predictions from the OECD and the IMF (our coverage here and here). Existing US home sales were slightly above the consensus estimate, which also helped buoy stocks this morning (our coverage here). The US dollar index rose today, now up 0.52% at 81.509. The GSCI commodity index is up fractionally at 633.25, with commodities mostly lower on the stronger dollar. Corn and cotton were today’s big losers. WTI crude oil closed down -1% at $91.66/barrel, and Brent crude trades down -0.62% at $108.13/barrel. Natural gas rose more than 3% today at $2.69/thousand cubic feet. Gold settled down -0.8% today, at $1,576.60/ounce.

The unofficial closing bells put the DJIA down about 2 points to 12,502.66 (-0.01%), the NASDAQ fell about 8 points (-.029%) to 2,839.08, and the S&P 500 rose 0.05% or less than 1 point to 1,316.63.

There were several analyst upgrades and downgrades today, including Gap Inc. (NYSE: GPS) raised to ‘buy’ at Lazard Capital; DryShips Inc. (NASDAQ: DRYS) started as ‘buy’ at Global Hunter; Domino’s Pizza Inc. (NYSE: DPZ) reiterated as ‘buy’ with a target price of $46 at Argus; LyondellBasell Industries (NYSE: LYB) started as ‘outperform’ with a target price of $60 at Credit Suisse; and Tesla Motors Inc. (NASDAQ: TSLA) started as ‘buy’ at Maxim Group.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Autozone Inc. (NYSE: AZO) is down -1.67% at $362.40; Best Buy Co. Inc. (NYSE: BBY) is up 1.3% at $18.41 (more coverage here); Ralph Lauren Corp. (NYSE: RL) is up 3.4% at $151.24 (more coverage here); Williams Sonoma Inc. (NYSE: WSM) is up 3.4% at $35.90; and Express Inc. (NYSE: EXPR) is down -26.9% at $16.88.

Tomorrow we are scheduled to get earnings reports from American Eagle Outfitters Inc. (NYSE: AEO), Big Lots Inc. (NYSE: BIG), Hormel Foods Corp. (NYSE: HRL), NetApp Inc. (NASDAQ: NTAP), Pandora Media Inc. (NYSE: P), Suntech Power Holdings Co. Ltd. (NYSE: STP), and Trina Solar Ltd. (NYSE: TSL).

Other standouts from today include the following stocks:

Patriot Coal Corp. (NYSE: PCX) is down nearly -40% at $2.22 after posting a new 52-week low of $1.36 earlier today. The coal miner was reported to be interviewing firms to help with a restructuring. Patriot issued a non-denial denial later to stem the bleeding. More coverage here and here.

Benihana Inc. (NASDAQ: BNHN) is up 21.3% at $16.13. The restaurateur is being acquired for $296 million.

Facebook Inc. (NASDAQ: FB) is down -8.6%% at $31.12 after posting a new low of $30.98 earlier today. Shares are getting pummeled again today. We’ve started a deathwatch here and here. Just search for ‘facebook deathwatch’ to get the latest dope.

Stay tuned for Wednesday. Minneapolis Fed President Naryana Kocherlakota is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
10:00 a.m. – New home sales
10:00 a.m. – FHFA house price index
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 5-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AEO, AZO, BBY, BIG, BNHN, DPZ, DRYS, EXPR, FB, GPS, HRL, LYB, NTAP, P, PCX, RL, STP, TSL, TSLA, WSM

24/7 Wall St. Closing Bell — May 21, 2012 ( AVP, PBR, SWY, BA, BBY, CPB, HAST, KKD, LOW, TECD, TUDO, AZO, GES, RL, WSM, TTWO, FB, CBE, ETN, WPRT)

Paul Ausick — Mon, 21 May 2012 20:04:35 +0000

The three major US stock indexes opened higher this morning as what seems to be a declaration of love for Greece at the G8 summit meeting pushed down fears that the Greeks would leave the euro and throw all of the monetary union into chaos (our coverage here). There is also some reason to believe that China will take its foot off the brake and step on the accelerator to get its economy on a growth path again. The US dollar index fell today, now down -0.19% at 81.138. The GSCI commodity index is down fractionally at 629.50, with commodities mostly mixed today. WTI crude oil closed up -1.2% at $92.57/barrel, and Brent crude trades up 1.58% at $108.83/barrel. Natural gas fell sharply today, down -4.4% today at $2.62/thousand cubic feet. Gold settled down -0.2% today, at $1,588.70/ounce.

The unofficial closing bells put the DJIA up more than 134 points to 12,503.87 (1.09%), the NASDAQ rose nearly 68 points (2.46%) to 2,847.21, and the S&P 500 rose 1.60% or nearly 21 points to 1,316.00.

There were several analyst upgrades and downgrades today, including Avon Products Inc. (NYSE: AVP) cut to ‘sell’ at UBS; Petrobras (NYSE: PBR) raised to ‘buy’ at SocGen; Safeway Inc. (NYSE: SWY) raised to ‘buy’ at Citigroup; Boeing Co. (NYSE: BA) raised to ‘buy’ at Argus; and Best Buy Co. Inc. (NYSE: BBY) cut to ‘hold’ at BB&T.

Earnings reports since markets closed on Friday have led to some price changes as of the last half hour of trading today: Campbell Soup Co. (NYSE: CPB) is down -2.1% at $32.71; Hastings Entertainment Inc. (NASDAQ: HAST) is up 15.2% at $2.05; Krispy Kreme Doughnuts Inc. (NYSE: KKD) is up 12.3% at $6.75; Lowe’s Companies Inc. (NYSE: LOW) is down -10.1% at $25.60 (more coverage here); Tech Data Corp. (NASDAQ: TECD) is up 0.7% at $47.78; and Tudou Holdings Ltd. (NASDAQ: TUDO) is up 11.3% at $33.37.

Tomorrow we are scheduled to get earnings reports from Autozone Inc. (NYSE: AZO), Best Buy, Guess? Inc. (NYSE: GES), Ralph Lauren Corp. (NYSE: RL), Williams Sonoma Inc. (NYSE: WSM), and Take-Two Interactive Software Inc. (NASDAQ: TTWO).

Other standouts from today include the following stocks:

Facebook Inc. (NASDAQ: FB) is down -11% at $34.03. Following Friday’s massively-hyped IPO and the CEO’s weekend wedding, a falling share price was probably inevitable. More coverage here.

Cooper Industries plc (NYSE: CBE) is up 25.2% at $69.96 after posting a new 52-week high this morning of $70.97. The company is being acquired by Eaton Corp. (NYSE: ETN) for $11.8 billion. More coverage here.

Westport Innovations Inc. (NASDAQ: WPRT) is up 12% at $26.57. The natural gas engine maker has a deal with Volvo for a new truck engine.

Stay tuned for Tuesday. Atlanta Fed President Dennis Lockhart is giving a speech. We have also noted the following events on the schedule (all times Eastern):

10:00 a.m. – Existing home sales
10:00 a.m. – Richmond Fed manufacturing index
11:30 a.m. – 4-week bill auction
1:00 p.m. – 2-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AVP, AZO, BA, BBY, CBE, CPB, ETN, FB, GES, HAST, KKD, LOW, PBR, RL, SWY, TECD, TTWO, TUDO, WPRT, WSM

24/7 Wall St. Closing Bell — May 16, 2012

Paul Ausick — Wed, 16 May 2012 20:05:52 +0000

The three major US stock indexes opened higher this morning as investors appeared to be reacting to a temporarily stronger euro, which indicated some confidence in the Eurozone generally. But the dollar regained its lost ground by mid-morning and looks to be continuing a run of 12 straight stronger showings, something last seen more than a quarter century ago. US housing data was not encouraging either (more coverage here). The US dollar index rose today, now up 0.14% at 81.336. The GSCI commodity index is up fractionally at 636.10, with commodities mostly higher today, defying the stronger dollar. Wheat was today’s big gainer. WTI crude oil closed down -1.2% at $92.81/barrel, it’s lowest close since November, and Brent crude trades down at -1.66% at $109.60/barrel. Gold settled down -1.3% today, at $1,536.60/ounce, the yellow metal’s lowest close since last July.

The unofficial closing bells put the DJIA down more than 33 points to 12,598.63 (-0.26%), the NASDAQ fell nearly 20 points (-0.68%) to 2,874.04, and the S&P 500 fell -0.44% or nearly 6 points to 1,324.81.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) raised to ‘overweight’ at Barclays; Patriot Coal Corp. (NYSE: PCX) cut to ‘market perform’ at FBR; Aetna Inc. (NYSE: AET) cut to ‘hold’ at Argus; Baker Hughes Inc. (NYSE: BHI) cut to ‘neutral’ at JPMorgan; and SandRidge Energy Inc. (NYSE: SD) raised to ‘hold’ at Canaccord Genuity.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: 8×8 Inc. (NASDAQ: EGHT) is down -1.5% at $3.86; Chico’s FAS Inc. (NYSE: CHS) is up 4.2% at $15.28; Deere & Co. (NYSE: DE) is down -3.1% at $74.23 (more coverage here); Eagle Materials Inc. (NYSE: EXP) is down -5.2% at $33.13; LiveDeal Inc. (NASDAQ: LIVE) is up 5.9% at $6.14; and Target Corp. (NYSE: TGT) is up 0.7% at $55.49 (more coverage here).

On Thursday we are scheduled to get earnings from Bon-Ton Stores Inc. (NASDAQ: BONT), Dollar Tree Inc. (NASDAQ: DLTR), E-Commerce China Dangdang Inc. (NASDAQ: DANG), GameStop Corp. (NYSE: GME), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Ross Stores Inc. (NASDAQ: ROST), Sears Holdings Corp. (NASDAQ: SHLD), Teekay Corp. (NYSE: TK), and Wal-Mart Stores Inc. (NYSE: WMT).

Other standouts from today include the following stocks:

J.C. Penney Co. Inc. (NYSE: JCP) is down -19.2% at $26.92. The retailer absolutely failed on quarterly results. More coverage here.

Rosetta Genomics Ltd. (NASDAQ: ROSG) is up 263% at $5.88. The medical test making firm will have one of its tests covered by Medicare. There was also a 1-for-15 reverse stock split. More coverage here.

Abercrombie & Fitch Inc. (NYSE: ANF) is down -13.7% at $39.21 after posting a new 52-week low of $38.26 earlier today. The teen retailer badly missed estimates last night.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
10:00 a.m. – Philadelphia Fed manufacturing survey
10:00 a.m. – E-commerce retail sales
10:00 a.m. – Leading indicators
10:30 a.m. – EIA weekly natural gas storage report
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AET, ANF, BHI, BONT, CHS, CSCO, DANG, DE, DLTR, EGHT, EXP, GME, JCP, JKS, LIVE, PCX, ROSG, ROST, SD, SHLD, TGT, TK, WMT

24/7 Wall St. Closing Bell — May 15, 2012

Paul Ausick — Tue, 15 May 2012 20:05:44 +0000

Two of the three major US stock indexes opened higher this morning as investors reacted to the news from Greece that no government could be formed and that a second election will be held next month. The news on German manufacturing was good (more coverage here) and US data was also mostly better, but not enough to deflect a weak opening. Equities moved higher later in the day, but overall the market looks set to close half a point lower than where it opened. The US dollar index rose today, now up 0.75% at 81.211. The GSCI commodity index is down about 1% at 639.40, with commodities mostly higher today, defying the stronger dollar. WTI crude oil closed down -0.8% at $93.98/barrel and Brent crude trades up 0.65% at $112.30/barrel. Gold settled down -0.3% today, at $1,557.10/ounce, the yellow metal’s lowest close of the year to date (more coverage here).

The unofficial closing bells put the DJIA down more than 63 points to 12,632.08 (-0.50%), the NASDAQ fell nearly 9 points (-0.30%) to 2,893.76, and the S&P 500 fell -0.57% or nearly 8 points to 1,330.66.

There were several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) raised to ‘outperform’ at Credit Suisse; Applied Materials Inc. (NASDAQ: AMAT) cut to ‘hold’ at Needham; Colgate-Palmolive Co. (NYSE: CL) raised to ‘buy’ at Argus; McDonald’s Corp. (NYSE: MCD) cut to ‘neutral’ at Cowen; and Phillips 66 (NYSE: PSX) started as ‘buy’ at Citigroup.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Renren Inc. (NYSE: RENN) is up 5.5% at $5.79; Agilent Technologies Inc. (NYSE: A) is up XX% at $XX; A123 Systems Inc. (NASDAQ: AONE) is up 4.5% at $40.63; Arctic Cat Inc. (NASDAQ: ACAT) is down -10.6% at $37.84; Dick’s Sporting Goods Inc. (NYSE: DKS) is up 6.8% at $50.45 after posting a new 52-week high of $51.65 earlier today; Saks Inc. (NYSE: SKS) is down -0.5% at $10.00; TJX Companies Inc. (NYSE: TJX) is up 7.1% at $42.50; Valspar Corp. (NYSE: VAL) is down -6.7% at $46.45, and The Home Depot Inc. (NYSE: HD) is down -2.6% at $48.61 (more coverage here).

On Wednesday we are scheduled to get earnings from 8×8 Inc. (NASDAQ: EGHT), Abercrombie & Fitch Co. (NYSE: ANF), Chico’s FAS Inc. (NYSE: CHS), Deere & Co. (NYSE: DE), Jack in the Box Inc. (NASDAQ: JACK), and Target Corp. (NYSE: TGT).

Other standouts from today include the following stocks:

Facebook Inc. (soon to be NASDAQ: FB) raised its IPO price range from from $28-$35 to $34-$38. It is possible the world will regain its balance following the company’s IPO, expected for Friday. But maybe not.

Patriot Coal Corp. (NYSE: PCX) is down -18.8% at $3.92 after posting a new 52-week low of $3.91 earlier today. The coal miner lowered shipment and price expectations this morning. More coverage here.

JPMorgan Chase & Co. (NYSE: JPM) is up 1.7% at $36.39. CEO Jamie Dimon dodged a bullet at today’s shareholder meeting and kept both his jobs.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Housing starts
10:30 a.m. – EIA weekly petroleum status report
2:00 p.m. – FOMC minutes released

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: A, ACAT, AMAT, AMZN, ANF, AONE, CHS, CL, DE, DKS, EGHT, FB, JACK, JPM, MCD, PCX, PSX, RENN, SKS, TGT, TJX, VAL

24/7 Wall St. Closing Bell

Paul Ausick — Fri, 11 May 2012 20:05:14 +0000

The major US stock indexes opened significantly lower this morning as investors reacted to the surprise loss of $2 billion by JPMorgan Chase & Co. (NYSE: JPM) disclosed by the bank’s CEO after trading closed last night (more coverage here and on the 24/7 Wall St. Wire). A drop in the producer price index (coverage here) and a rise in consumer sentiment (coverage here) put some air back into equities, particularly in the tech sector. Only the Nasdaq has been able to show a positive gain today, with about an hour left to closing, but the other two major indexes are down only fractionally. The US dollar index rose today, now up 0.20% at 80.272. The GSCI commodity index is down about 0.1% at 647.50, with commodities mostly lower today on the stronger dollar. Soybeans and canola were the big losers. WTI crude oil closed down -1% at $96.13/barrel and Brent crude trades down -0.54% at $112.12/barrel. Gold settled down -0.7% today, at $1,584.00/ounce, down 4% for the week.

The unofficial closing bells put the DJIA down more than 34 points to 12,820.53 (-0.27%), the NASDAQ rose less than 1 point (0.01%) to 2,933.82, and the S&P 500 fell -0.34% or nearly 5 points to 1,353.38.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) maintained ‘outperform’ but estimates cut at Credit Suisse (more coverage here); AT&T Inc. (NYSE: T) raised to ‘outperform’ at Credit Suisse; Best Buy Co. Inc. (NYSE: BBY) cut to ‘neutral’ with a target price of $20 at Credit Suisse; Verizon Communications Inc. (NYSE: VZ) raised to ‘outperform’ at Credit Suisse; and Arena Pharmaceuticals Inc. (NASDAQ: ARNA) raised to ‘buy’ at Jefferies and to ‘outperform’ at Leerink Swann.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Dillard’s Inc. (NYSE: DDS) is up 7.3% at $70.99 after posting a new 52-week high of $72.47 earlier today (more coverage here); ReneSola Ltd. (NYSE: SOL) is up 5.6% at $1.89 (more coverage here); Nvidia Corp. (NASDAQ: NVDA) is up 6.9% at $13.28 (more coverage here); and Uranium Resources Inc. (NASDAQ: URRE) is down -2.4% at $0.80.

On Monday we are scheduled to get earnings from Groupon Inc. (NASDAQ: GRPN), InterOil Corp. (NYSE: IOC), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Kior Corp. (NASDAQ: KIOR), and Silver Wheaton Corp. (NYSE: SLW).

Other standouts from today include the following stocks:

A number of ETFs had reverse splits of 1-for-5 today, and showed gains of 400% as a result. These included the ProShares UltraPro Short S&P500 (AMEX: SPXU) and other ProShares funds.

Arena Pharmaceuticals is up 76.2% at $6.45 after posting a new 52-week high of $7.01 earlier today. The drug maker received FDA approval to sell its lorcaserin diet drug in the US. Orexigen Therapeutics Inc. (NASDAQ: OREX) and Vivus Inc. (NASDAQ: VVUS) also have similar drugs in development and posted nice gains today as well.

Chesapeake Energy Corp. (NYSE: CHK) is down -10.7% at $15.35 after posting a new 52-week low of $15.21 earlier today. The company filed is proxy statement with the SEC today and it’s a doozy. More coverage here.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

11:30 a.m. – 3- and 6-month bill auction

Have a great weekend!

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AAPL, ARNA, BBY, CHK, DDS, GRPN, IOC, JASO, JPM, KIOR, NVDA, OREX, SLW, SOL, SPXU, T, URRE, VVUS, VZ

24/7 Wall St. Closing Bell (ORCL, NOV, MMM, TEVA, JDSU, AMCX, MT, HNR, KSS, WIN, DDS, JKS, PGR, SOL, URRE, MNST, WFR)

Paul Ausick — Thu, 10 May 2012 20:04:02 +0000

The major US stock indexes opened significantly higher this morning as investors were heartened by yesterday’s nationalization of Spain’s Bankia. The Bank of England also keps rates and asset purchases stable. This morning’s report on new US claims for unemployment benefits was in-line with expectations (our coverage here). US natural gas inventories rose last week, but the increase was also in-line with expectations (our coverage here).The US dollar index rose today, now up 0.01% at 80.077. The GSCI commodity index is down fractionally at 648.28, with commodities mostly higher on the small change in the dollar. WTI crude oil closed up 0.3% at $97.08/barrel and Brent crude trades down -0.37% at $112.78/barrel. Gold settled up 0.1% today, at $1,595.50/ounce.

The unofficial closing bells put the DJIA up nearly XX points to XXX (XX%), the NASDAQ rose more than XX points (XXX%) to XXX, and the S&P 500 rose XX% or nearly X points to XXX.

There were several analyst upgrades and downgrades today, including Oracle Corp. (NASDAQ: ORCL) cut to ‘hold’ at ThinkEquity; National Oilwell Varco Inc. (NYSE: NOV) maintained ‘buy’ with a lowered target price of $90 at Argus; 3M Co. (NYSE: MMM) cut to ‘market perform’ at Bernstein; Teva Pharmaceuticals Industries Ltd. (NASDAQ: TEVA) cut to ‘hold’ at Needham; and JDS Uniphase Corp. (NASDAQ: JDSU) raised to ‘buy’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: AMC Networks Inc. (NASDAQ: AMCX) is up 2.4% at $40.58; ArcelorMittal (NYSE: MT) is up 1.9% at $16.42; Harvest Natural Resources Inc. (NYSE: HNR) is down -1.6% at $5.71 after posting a new 52-week low of $5.44 earlier today; Kohl’s Corp. (NYSE: KSS) is down -4.6% at $48.52; and Windstream Corp. (NASDAQ: WIN) is down -10.3% at $10.10 after posting a new 52-week low of $9.42 earlier today.

On Friday we are scheduled to get earnings from Dillard’s Inc. (NYSE: DDS), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Nvidia Corp. (NASDAQ: NVDA), Progressive Corp. (NYSE: PGR), ReneSola Ltd. (NYSE: SOL), and Uranium Resources Inc. (NASDAQ: URRE).

Other standouts from today include the following stocks:

Monster Beverage Corp. (NASDAQ: MNST) is up 9.2% at $71.34 in a 52-week range of $32.35-$83.96. The energy drinks company posted strong results, but buyout rumors continue to lead the charge. More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -24.3% at $2.46 after posting a new 52-week low of $2.41 earlier today. The solar component supplier posted bad results and a weak outlook. More coverage here.

We also took a detailed look today at short interest in a number of stocks — big names, volume leaders, and cult stocks.

Stay tuned for Friday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Producer price index
9:55 a.m. – Reuters/University of Michigan consumer sentiment

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMCX, DDS, HNR, JDSU, JKS, KSS, MMM, MNST, MT, NOV, ORCL, PGR, SOL, TEVA, URRE, WFR, WIN

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Paul Ausick — Tue, 08 May 2012 20:07:27 +0000

The major US stock indexes opened sharply lower this morning as weak performance in the European markets as traders try to figure out what last weekend’s elections mean. Crude oil was also sharply lower this morning. The three major indexes have all come back from losses greater than -1% in the afternoon, but still look set to finish the day down at least -0.5%. The US dollar index rose today, now up 0.14% at 79.716. The GSCI commodity index is down fractionally at 652.27, with commodities mixed on the slightly stronger dollar. WTI crude oil closed down -1% at $97.01/barrel and Brent crude trades down -0.23% at $112.90/barrel. Gold settled down -2.1% today, at $1,604.5/ounce, after briefly falling below $1,600/ounce earlier in the day.

The unofficial closing bells put the DJIA down more than 76 points to 12,932.01 (-0.59%), the NASDAQ fell more than 11 points (-0.39%) to 2,946.27, and the S&P 500 fell -0.43% or nearly 6 points to 1,363.71.

There were several analyst upgrades and downgrades today, including Ford Motor Co. (NYSE: F) maintained as ‘buy’ with a target price of $19 at Argus; Wynn Resorts Ltd. (NASDAQ: WYNN) maintained ‘outperform’ with a target price of $166 at Credit Suisse; Capital One Financial Corp. (NYSE: COF) raised to ‘hold’ at Argus; BP plc (NYSE: BP) cut to ‘underweight’ at Barclays; and Synacor Inc. (NASDAQ: SYNC) cut to ‘underperform’ at BofA/ML.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Charter Communications Inc. (NASDAQ: CHTR) is down up 5.5% at $65.24 after posting a new 52-week high of $66.18 earlier today (more coverage here); Hecla Mining Co. (NYSE: HL) is up 4.1% at $4.04 (more coverage here); OfficeMax Inc. (NYSE: OMX) is up 10.5% at $4.85; Tenet Healthcare Corp. (NYSE: THC) is up 1.4% at $5.11; The Wendy’s Co. (NASDAQ: WEN) is down -4.3% at $4.66 (more coverage here); Rosetta Stone Inc. (NYSE: RST) is up 18.4% at $12.64; and Pioneer Drilling Co. (NYSE: PDC) is up 5.5% at $8.03.

On Wednesday we are scheduled to get earnings from AOL Inc. (NYSE: AOL), Agrium Inc. (NYSE: AGU), CenturyLink Inc. (NYSE: CTL), Dollar Thrifty Automotive Group Inc. (NYSE: DTG), Macy’s Inc. (NYSE: M), Melco Crown Entertainment Ltd. (NASDAQ: MPEL), News Corp. (NASDAQ: NWS), Cisco Systems Inc. (NASDAQ: CSCO), Tesla Motors Inc. (NASDAQ: TSLA), Toyota Motor Corp. (NYSE: TM), and priceline.com Inc. (NASDAQ: PCLN).

Other standouts from today include the following stocks:

Fossil Inc. (NASDAQ: FOSL) is down -36.8% at $79.50. The fashion accessories company revealed a weak forecast today. More coverage here.

Dendreon Corp. (NASDAQ: DNDN) is down -24.6% at $8.81. The drug maker’s earnings were not as strong as expected. More coverage here.

Avalon Rare Metals Inc. (AMEX: AVL) is down -24% at $1.67 after posting a new 52-week low of $1.58 earlier today. The rare earths miner is delaying a feasibility study. More coverage here.

Stay tuned for Wednesday. Cleveland Fed President Sandra Pianalto and Philadelphia Fed President Charles Plosser are giving speeches. We have noted the following events on the schedule (all times Eastern):

10:00 a.m. – Wholesale trade report
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 10-year note auction

Paul Ausick

Filed under: General, HI/LOW, Market Close Tagged: AGU, AOL, AVL, BP, CHTR, COF, CSCO, CTL, DNDN, DTG, F, FOSL, HL, M, MPEL, NWS, OMX, PCLN, PDC, RST, SYNC, THC, TM, TSLA, WEN, WYNN