24/7 Wall St. » ACAT

24/7 Wall St. Closing Bell (GD, VALE, GMCR, GLW, CHK, ARG, ACAT, T, BMY, CAT, CY, LMT, MKC, MWW, POT, RTN, VIST, RNWK, MNTA, NFLX, EFSC)

Paul Ausick — Thu, 26 Jan 2012 21:08:29 +0000

All three major US indexes opened higher this morning, but enthusiasm tapered off quickly and steadily, if not sharply. A drop in the number of new home sales and a smaller-than-expected rise in the leading economic indicators index. Hope that talks between Greece and its creditors would yield an agreement also pushed markets higher. But the weak housing report and no further news from Europe kept share prices moving down. WTI crude gained 0.35% at $99.75/barrel and Brent crude is up 1.02% at $110.93. Gold is higher by 1.27% at $1,724.60.

The unofficial closing bells put the DJIA down more than 22 points to 12,734.63 (-0.18%), the NASDAQ fell about 13 points (-0.46%) to 2,805.28, and the S&P 500 fell -0.57% or nearly 7 points to 1,318.45.

There were several analyst upgrades and downgrades today, including General Dynamics Corp. (NYSE: GD) cut to ‘perform’ at Oppenheimer; Vale S.A. (NYSE: VALE) cut to ‘hold’ at Deutsche Bank; Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) started as ‘perform’ at Williams Capital; Corning Inc. (NYSE: GLW) cut to ‘underweight’ at Morgan Stanley; and Chesapeake Energy Corp. (NYSE: CHK) cut to ‘underweight’ at JPMorgan.

Earnings reports since markets closed on last night have led to some price changes as of the last half hour of trading today: Airgas Inc. (NYSE: ARG) is down -3.66% at $77.29; Arctic Cat Inc. (NASDAQ: ACAT) is up more than 19% at $28.40 after posting a new 52-week high of $29.20 earlier today; AT&T Inc. (NYSE: T) is down -2.65% at $29.41; Bristol-Myers Squibb Co. (NYSE: BMY) is down -0.92% at $32.40; Caterpillar Inc. (NYSE: CAT) is up 1.95% at $111.18; Cypress Semiconductor Corp. (NASDAQ: CY) is down more than -11% at $17.03; Lockheed Martin Corp. (NYSE: LMT) is up 0.95% at $82.51; McCormick & Co. Inc. (NYSE: MKC) is up 0.90% at $78.55; Monster Worldwide Inc. (NYSE: MWW) is down more than -20% at $7.18; Potash Corp. of Saskatchewan Inc. (NYSE: POT) is up 1.61% at $45.96; and Raytheon Co. (NYSE: RTN) is up 0.34% at $49.88.

Other standouts from today include the following stocks:

VIST Financial Corp. (NASDAQ: VIST) is up more than 62% at $11.20 after posting a new 52-week high of $11.50 earlier today. The bank holding company has agreed to be acquired by Tompkins Financial Corp. (AMEX: TMP) in an all-stock deal at an 86% premium to last night’s closing price, or about $85 million.

RealNetworks Inc. (NASDAQ: RNWK) is up more than 35% at $9.98. The digital media company has sold a video codec and a number of patents to Intel Corp. (NASDAQ: INTC) for $120 million.

Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) is down nearly -21% at $15.13. The biotechnology company lost its bid for an injunction against certain competitors.

Netflix Inc. (NASDAQ: NFLX) is up about 22% at $116.01. The digital video streaming and rental company reported a better-than-expected number of new subscribers after markets closed last night.

Enterprise Financial Services Corp. (NASDAQ: EFSC) is down more than -19% at $12.51. The bank holding company will restate earnings for 2010 and the first three quarters of 2011 and expects to dilute 2010 earnings by half as a result.

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

8:30 a.m. – US GDP report
9:55 a.m. – Reuters/University of Michigan consumer sentiment index

Paul Ausick

Filed under: HI/LOW, Market Close, The Day Tagged: ACAT, ARG, BMY, CAT, CHK, CY, EFSC, GD, GLW, GMCR, LMT, MKC, MNTA, MWW, NFLX, POT, RNWK, RTN, T, VALE, VIST

24/7 Wall St. Closing Bell (BHP, MCP, CCL, SHLD, PKD, DLPH, PNY, RDI, ACAT, DCTH, END, LEDS)

Paul Ausick — Wed, 28 Dec 2011 21:07:01 +0000

Stocks open slightly higher this morning, but quickly reversed course to begin falling in less than five minutes of trading. The DJIA hit a morning low just before noon and has bounced around off that ever since. The Nasdaq Composite and the S&P 500 have followed the same pattern. Italy’s successful auction of short-term debt was quickly followed by a drop in the euro to below $1.30, where the single currency has remained throughout the day. Commodity prices have been generally lower today, although wheat, corn, and coffee have posted gains. Crude oil prices have fallen following a statement by Saudi Arabia that other countries would pick up any shortfall in crude deliveries caused by possible Iranian action in the Strait of Hormuz. Brent crude is down -1.85% at $107.42/barrel and WTI is down the same amount at $99.49/barrel. Gold is down sharply, nearly -2.5%, at $1,556.40/ounce.

The unofficial closing bells put the DJIA down nearly 140 points to 12,151.64 (-1.14%), the NASDAQ fell more than 35 points (-1.34%) to 2,589.98, and the S&P 500 fell -1.25% or nearly 16 points to 1,249.66.

There were several analyst upgrades and downgrades today, including BHP Billiton plc (NYSE: BHP) cut from ‘neutral’ to ‘underperform’ at Zack’s Investment Research; Molycorp Inc. (NYSE: MCP) target price and estimate lowered to $39 at JPMorgan; Carnival Corp. (NYSE: CCL) maintained as ‘hold’ but estimates cut at Argus; Sears Holding Corp. (NASDAQ: SHLD) maintained as ‘underperform’ and target price lowered to $20 at Credit Suisse; Parker Drilling Co. (NYSE: PKD) named ‘value stock of the day’ at Zack’s; and Delphi Automotive (NASDAQ: DLPH) started as ‘buy’ at Goldman Sachs.

There are no earnings reports of note out yet today. After markets close today Piedmont Natural Gas Co. (NYSE: PNY) and Reading International Inc. (NASDAQ: RDI) are scheduled to report earnings.

Other standouts from today include the following stocks:

Arctic Cat Inc. (NASDAQ: ACAT) is up more than 20% at $22.80, after posting a new 52-week high of $24 earlier today. The recreational vehicle maker announced that it had repurchased a 33% stake in the company owned by Suzuki, reducing outstanding shares by about a third.

Delcath Systems Inc. (NASDAQ: DCTH) is up nearly 11% at $3.38. The drug development company has received EU standards certification for its plant in Galway, Ireland.

Endeavor International Corp. (NYSE: END) is up nearly 11% to $8.78. The independent oil & gas company continues to receive attention for its purchase of North Sea assets from ConocoPhillips (NYSE: COP) and an ratings upgrade from ‘market perform’ to ‘outperform’ at Rodman & Renshaw.

Molycorp shares are down nearly -14% at $24.12 after posting a new 52-week low of $24.03 earlier today. The rare earths miner was downgraded this morning and a Chinese announcement on exports of rare earth minerals are both weighing on the company. More on Molycorp here.

SemiLEDS Corp. (NASDAQ: LEDS) is up more than 18% at $3.81. The LED lighting maker hit a technical target at around $3.29/share. Trading in SemiLEDS shares is about 6x average daily volume.

Stay tuned for Thursday. Here are the noteworthy events on the schedule (all times Eastern):

8:30 a.m. – Initial unemployment benefits claims
9:45 a.m. – Chicago PMI report
10:00 a.m. – National Association of Realtors pending home sales index
10:30 a.m. – EIA weekly natural gas status report
11:00 a.m. – EIA weekly petroleum status report
4:30 p.m. – Federal Reserve balance sheet and money supply reports

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ACAT, BHP, CCL, DCTH, DLPH, END, LEDS, MCP, PKD, PNY, RDI, SHLD

This Month’s Biggest Index Gainers: Recreational Vehicles, Homebuilders, and Vehicle Rental Stocks

247wallst — Tue, 04 May 2010 15:44:46 +0000

There were strong gains in three Tickerspy indexes over the most recent 30-day period. This month’s biggest gainers are in recreational vehicles, homebuilders, and vehicle rental stocks.

Homebuilder stocks are up 19.3% in the past month. The best performing stocks in the index are Hovnanian Enterprises Inc., (NYSE: HOV) up 66.9%, Palm Harbor Homes Inc., (NASDAQ: PHHM) up 49.5%, and Standard Pacific Corp., (NYSE: SPF) up 45.5%.

Vehicle rental stocks are up 33.8% in the past month. The best performing stocks in the index are Dollar Thrifty Automotive Group Inc., (NYSE: DTG) up 58.8%, Hertz Global Holdings, Inc., (NYSE: HTZ) up 29.5%, and Avis Budget Group, Inc., (NYSE: CAR) up 19.5%.

Recreational vehicles are up 22.8% in the past month. The best performing stocks in the index are Arctic Cat Inc., (NASDAQ: ACAT), Brunswick Corp., (NYSE: BC) up 31.7%, and Harley-Davidson, Inc., (NYSE: HOG) up 17.6%.

24/7 Wall St.

Filed under: auto, Housing, Most Actives Tagged: ACAT, BC, CAR, DTG, HOG, HOV, HTZ, PHHM, SPF

ATV Sales Hurting Arctic Cat (ACAT, PII)

247wallst — Tue, 08 Apr 2008 15:30:29 +0000

Arctic Cat Inc. (NASDAQ: ACAT) is seeing shares come off the tracks in after-hours trading after the company previewed poor results. The company places the blame on on lower than anticipated all-terrain vehicles sales. This is attributed to continued weak retail sales, the reduction of a large planned retail customer order, and finally on a parts supply issue.

Arctic Cat now expects fourth-quarter diluted EPS of $0.00 to -$0.08 and net sales are now estimated to be $167 million to $169 million compared to $172.6 million in the prior-year fourth quarter. First Call had estimates of $0.23 EPS and $198.9 million in revenues. Analysts had only taken this down by $0.01 over the last ninety-day period, although analysts were mostly cautious anyway on this one.

The company now see reporting a net loss for the March 31, 2008 fiscal year in the range of $0.20 to $0.28, compared to year-ago diluted EPS of $1.15.

Shares are down some 18% at $6.01 in after-hours trading after closing up less than 1% at $7.37 in regular trading. That will also be a new 52-week low under the prior $6.81 low if this holds. While this would be easy to keep bashing, Arctic Cat’s stock had already sold off roughly 65% since last summer’s highs and are down far worse than this since early 2005.

Shares of larger competitor Polaris Industries, Inc. (NYSE: PII) are also lower by more than 2% at $42.75 in after-hours trading, after it also closed up nearly 1% in regular trading.

Jon C. Ogg
April 8, 2008

Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.