24/7 Wall St. » BWA

24/7 Wall St. Closing Bell (ACI, NFLX, KMI, KMP, HNZ, AVP, GT, WPI, ARB, BWA, CPLA, FOSL, HSP, OMC, ZIP, KORS, SYNM, CHTP, ENER, JKS)

Paul Ausick — Tue, 14 Feb 2012 21:10:40 +0000

US stock markets opened lower this morning and gradually lost ground throughout the day. A fractionally lower opening bell has translated to around a -0.6% loss on each of the major indexes about half an hour before closing. Last night’s downgrade of the sovereign debt of six European countries set the tone in both Asia and Europe, but by mid-day, a fairly weak report on US retail sales and a more modest than expected rise in business inventories kept share prices from rising. In the late afternoon, Eurozone leaders canceled tomorrow’s meeting on the Greek bailout saying that Greece had failed to meet several demands related to the proposed $172 billion bailout. Germany’s finance minister even displayed a “who cares?” attitude toward the possibility of a Greek default (our story here). Crude oil was mixed today, with larger early gains lost on the weak news and the stronger dollar. WTI crude rose 0.08% to $100.99/barrel and Brent crude rose 0.25% to $117.68/barrel. Gold was down -0.4%, settling at $1,717.70/ounce.

The unofficial closing bells put the DJIA up about 4 points to 12,878.28 (0.03%), the NASDAQ rose less than 1 point (0.02%) to 2,931.83, and the S&P 500 fell -0.09% or just over 1 point to 1,350.5.

There were several analyst upgrades and downgrades today, including Arch Coal Inc. (NYSE: ACI) cut to ‘hold’ at Argus; Netflix Inc. (NASDAQ: NFLX) raised to ‘outperform’ and target price raised to $140 at Credit Suisse; Kinder Morgan Inc. (NYSE: KMI) raised to ‘buy’ at Deutsche Bank; Kinder Morgan Energy Partners L.P. (NYSE: KMP) raised to ‘buy’ at Deutsche Bank; and H.J. Heinz Co. (NYSE: HNZ) started as ‘underweight’ at Morgan Stanley.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Avon Products Inc. (NYSE: AVP) is up 1.2% at $17.74; Goodyear Tire & Rubber Co. (NYSE: GT) is down -5.7% at $13.18; Watson Pharmaceuticals Inc. (NYSE: WPI) is up 3.8% at $59.89; Arbitron Inc. (NYSE: ARB) is up 4.4% at $36.94; BorgWarner Inc. (NYSE: BWA) is up 0.42% at $79.18; Capella Education Co. (NASDAQ: CPLA) is down -13.3% at $39.30; Fossil Inc. (NASDAQ: FOSL) is up nearly 13% at $118.02; Hospira Inc. (NYSE: HSP) is up 6.7% at $36.50; Omnicom Group Inc. (NYSE: OMC) is down -0.23% at $47.91; and Zipcar Inc. (NASDAQ: ZIP) is down -13% at $13.99, a new 52-week low.

Other standouts from today include the following stocks:

Michael Kors Holdings Ltd. (NYSE: KORS) is up nearly 25% at $41.92 after posting a new high of $42.43 earlier today. The apparel company reported better-than-expected earnings today, and the shares have more than doubled since the company’s IPO in mid-December.

Syntroleum Corp. (NASDAQ: SYNM) is up up 20% at $1.32. The biodiesel maker’s joint venture with Tyson Foods Inc. (NYSE: TSN) has signed a deal to distribute synthetic diesel fuel.

Chelsea Therapeutics International Inc. (NASDAQ: CHTP) is up nearly 19% at $3.69. The company’s shares fell almost -40% yesterday, but bargain hunters can’t resist. We mentioned this possibility yesterday.

Energy Conversion Devices Inc. (NASDAQ: ENER) is down more than -80% to $0.29. The solar maker filed for bankruptcy this morning. We have more coverage here.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down nearly -12% at $7.95. The solar panel maker is just one more victim among solar stocks today of a proposed cutback in Germany’s solar subsidies and the bankruptcy of ECD. More coverage here.

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

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Empire State manufacturing survey
9:15 a.m. – Industrial production
10:00 a.m. – Housing market index
10:30 a.m. – EIA weekly petroleum status report
2:00 p.m. – FOMC minutes released

Paul Ausick

Filed under: General Tagged: ACI, ARB, AVP, BWA, CHTP, CPLA, ENER, FOSL, GT, HNZ, HSP, JKS, KMI, KMP, KORS, NFLX, OMC, SYNM, WPI, ZIP

Top Analyst Upgrades & Downgrades (BWA, CTL, CHKR, CTRN, EXXI, F, HON, ITMN, JEF, JPM, ORCL, RIMM, TDC, WPI)

Administrator — Wed, 21 Dec 2011 13:03:40 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

BorgWarner Inc. (NYSE: BWA) Started as Buy at Stern Agee.
CenturyLink, Inc. (NYSE: CTL) Raised to Outperform as the Bull of the Day at Zacks Investment Research.
Chesapeake Granite Wash Trust (NYSE: CHKR) Started as Neutral at Goldman Sachs; Started as Market Perform at Wells Fargo.
Citi Trends, Inc. (NASDAQ: CTRN) maintained long-term Underperform as the Bear of the Day at Zacks Investment Research.
Energy XXI (Bermuda) Limited (NASDAQ: EXXI) named as Value stock of the day at Zacks Investment Research.
Ford Motor Co. (NYSE: F) Started as Buy at Stern Agee.
Honeywell International Inc. (NYSE: HON) Reiterated Buy with $70.00 price target at Argus.
InterMune Inc. (NASDAQ: ITMN) maintained Outperform but cut price target down to $20.00 from $37.00 at Credit Suisse.
Jefferies Group, Inc. (NYSE: JEF) Cut to Market Perform at Keefe Bruyette & Woods.
J.P. Morgan Chase & Co. (NYSE: JPM) Cut to Neutral at Stern Agee.
Oracle Corporation (NASDAQ: ORCL) Cut to Hold from Buy at Canaccord Genuity; maintained Outperform but cut price target to $40.00 from $42.00 at Credit Suisse.
Research in Motion Ltd. (NASDAQ: RIMM) Raised to Buy from Hold but price target is only $16.00 at ThinkEquity.
Teradata Corporation (NYSE: TDC) Cut to Perform from Outperform at Oppenheimer.
Watson Pharmaceuticals Inc. (NYSE: WPI) maintained Buy with a price target objective of $78.00 per share at Argus.

JON C. OGG

Filed under: Analyst Calls Tagged: BWA, CHKR, CTL, CTRN, EXXI, F, HON, ITMN, JEF, JPM, ORCL, RIMM, TDC, WPI

Top Analyst Upgrades & Downgrades (ALKS, AMP, BWA, CSCO, CLB, DD, GTIV, HIG, JASO, JPM, JWN, NSC, ORCL, PFE, STP, TSL, UAL)

Administrator — Wed, 14 Sep 2011 12:12:59 +0000

These are some of this Wednesday’s top analyst upgrades, downgrades, and initiations seen having an impact from Wall Street research calls.

Alkermes, Inc. (NASDAQ: ALKS) Removed from US 1 List but maintained Buy at BofA/ML.
Ameriprise Financial Inc. (NYSE: AMP) Raised to Outperform at Credit Suisse.
BorgWarner, Inc. (NYSE: BWA) is Bull of the Day at Zacks.
Cisco Systems Inc. (NASDAQ: CSCO) Reiterated Buy with $22 target at BofA/ML; Reiterated Outperform at CRedit Suisse.
Core Laboratories NV (NYSE: CLB) Cut to Underperform at BofA/ML.
EI DuPont de Nemours & Co. (NYSE: DD) Raised to Buy at S&P Equity Research (late Tuesday).
Gentiva Health Services (NASDAQ: GTIV) Cut to Underperform as Bear of the Day at Zacks.
Hartford Financial Services Group Inc. (NYSE: HIG) Raised to Outperform at Credit Suisse.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Cut to Underperform at Jefferies.
J.P. Morgan Chase & Co. (NYSE: JPM) Maintained Outperform but cut estimates at Credit Suisse.
Nordstrom Inc. (NYSE: JWN) Cut to Neutral at Goldman Sachs.
Norfolk Southern Corporation (NYSE: NSC) Value Stock of the Day at Zacks.
Oracle Corporation (NASDAQ: ORCL) Raised to Positive at Susquehanna.
Pfizer Inc. (NYSE: PFE) Cut to Equal-Weight at Barclays.
Suntech Power Holdings Co. Ltd. (NYSE: STP) Cut to Underperform at Jefferies.
Trina Solar Ltd. (NYSE: TSL) Cut to Hold at Jefferies.
United Continental Holdings, Inc. (NYSE: UAL) Reiterated Buy with $34 target at BofA/ML.

JON C. OGG

Filed under: Analyst Calls Tagged: ALKS, AMP, BWA, CLB, CSCO, DD, GTIV, HIG, JASO, JPM, JWN, NSC, ORCL, PFE, STP, TSL, UAL

New Gas Mileage Standards Creating Winners & Losers (JCI, XIDE, MXWL, BWA, HON, TSLA, GM, F, TM)

Administrator — Mon, 01 Aug 2011 14:29:30 +0000

Last week’s announcement on new corporate average fuel economy rules, known as CAFE, got a lot of coverage for its headline number of average fleet mileage of 54.5 miles/gallon by 2025. The auto industry likes the fact that it has 14 years to get to the new standard because there are incremental improvements that can be made over that period that while small in absolute terms will add up quickly.

And presidential boosterism aside, electric vehicles don’t figure much into the picture. The companies that are likely to see some real gains from the new CAFE standards are electronics suppliers, battery makers, and engine companies. These include Johnson Controls Inc. (NYSE: JCI), Exide Technologies (NASDAQ: XIDE), Maxwell Technologies Inc. (NYSE: MXWL), BorgWarner Inc. (NYSE: BWA), and Honeywell International Inc. (NYSE: HON). Electric vehicle maker Tesla Motors, Inc. (NASDAQ: TSLA) shouldn’t expect much of a boost, and big automakers like General Motors Co. (NYSE: GM), Ford Motor Co. (NYSE: F), and Toyota Motor Co. (NYSE: TM) are far more likely to put their engineering efforts into internal combustion engines than into electric cars.

The reasons are simple. First, electric cars are not expected to have a significant impact on sales for a very long time. A report issued last month by the Boston Consulting Group notes that battery pack costs will drop by nearly two-thirds in 2020 to around $400/kilowatt-hour for a typical 24-kWh battery system, but that still adds $9,600 to the cost of an electric vehicle. Internal combustion engines cost about a third of that.

Second, internal combustion engines have the ability to meet the new CAFE standards using available (or nearly so) technology. The first innovation will be start-stop technology, from which battery makers Johnson Controls and Exide should see significant growth. Another start-stop component will be the ultra-capacitors from Maxwell Technologies, and that company should see a boost as well.

Third, electric vehicles enjoy a substantial lead over internal combustion engines in emissions regulated at the tailpipe. However, if regulators switch to what is called a “wells-to-wheels” measurement, the electric cars see their advantage fall from a range 40%-60% to a range of 30%-50%. That remains a significant difference but the cost difference is too high to expect massive movement away from better internal combustion engines that are, essentially, clean enough.

Other innovations are smaller engines with turbochargers, transmissions with more gears, better cooling systems, and other technical changes that need only to be set up for mass production. This is an industry that could see enormous growth. BorgWarner produces turbochargers, drivetrain components, and emissions systems for auto makers. So does Honeywell. Both should see long-term benefits from the new standards.

While there is not necessarily a loser for every winner, electric vehicles and all of the effort to support an infrastructure for them could slowly bleed to death. There will always be a market for these cars, but the vehicles themselves will not be able to compete with the more fuel-efficient and cheaper internal combustion models.

Paul Ausick

Filed under: Autos, Economy, Oil & Gas Tagged: BWA, F, GM, HON, JCI, MXWL, TM, TSLA, XIDE

Top Analyst Upgrades & Downgrades (AIG, BJ, BWA, CIEN, ELN, ERJ, FGP, MMM, M, MCD, MDCO, NDAQ, RIMM, SEE, TXN, UNH, UTX, AAPL)

Administrator — Thu, 09 Jun 2011 12:20:36 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday morning.

American International Group, Inc. (NYSE: AIG) Started as Buy at Deutsche Bank; Started as Equal-Weight at Barclays.
BJ’s Wholesale Club Inc. (NYSE: BJ) Cut to Equal-Weight at Barclays.
BorgWarner Inc. (NYSE: BWA) Reiterated Outperform at Wells Fargo.
CIENA Corporation (NASDAQ: CIEN) Maintained Outperform but cut target to $37 at Credit Suisse; Reiterated Buy with $30 target at Argus.
Elan Corp. plc (NYSE: ELN) Raised to Buy at UBS.
Embraer S.A. (NYSE: ERJ) Reiterated Strong Buy as Value and as Bull of the Day at Zacks.
Ferrellgas Partners (NYSE: FGP) maintained Underperform as Bear of the Day at Zacks.
3M Co. (NYSE: MMM) Started as Outperform at William Blair.
Macy’s, Inc. (NYSE: M) Raised to Overweight at Barclays.
McDonald’s Corporation (NYSE: MCD) Reiterated Outperform and raised estimates at Credit Suisse.
The Medicines Co. (NASDAQ: MDCO) Raised to Buy with $25 target at Argus.
Nasdaq OMX Group Inc. (NASDAQ: NDAQ) Raised to Buy at Stifel Nicolaus.
Research in Motion Ltd. (NASDAQ: RIMM) Cut to Hold at Citi.
Sealed Air Corporation (NYSE: SEE) Raised to Buy at Jefferies.
Texas Instruments Inc. (NYSE: TXN) Reiterated Buy but cut target to $41 at Gleacher & Co.
UnitedHealth Group, Inc. (NYSE: UNH) Reiterated Outperform and raised target to $69 at Credit Suisse.
United Technologies Corporation (NYSE: UTX) Started as Outperform at William Blair.

Apple Inc. (NASDAQ: AAPL) has reportedly been downgraded this morning by a boutique firm called First Global to a rating of “Market Perform.”

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, AIG, BJ, BWA, CIEN, ELN, ERJ, FGP, M, MCD, MDCO, MMM, NDAQ, RIMM, SEE, TXN, UNH, UTX

The 24/7 Wall St./Flame Index (May 17) Companies With The Most Negative Press

247wallst — Tue, 17 May 2011 14:43:54 +0000

NYSE (NYSE: NYX) was thrashed as Nasdaq (NASDAQ: NDAQ) and ICE pulled their buyout offer due to regulatory concerns.

Hewlett-Packard (NYSE: HPQ) was savaged by the press as information from its CEO about its weak quarterly numbers and future prospects were leaked to the press.

The Flame Index started as a research tool in 2008 at the NY Innovation Design Lab (nyidlab). It was used as a general metric to evaluate companies and their risk in the media. Publicly traded Fortune 500 companies are used as a measure to calculate an overall market of negative news and the companies are ranked within that market.

Rank	Company	Ticker	Score	Change in Rank	Comments
1	NYSE Euronext	NYX	48.663	+99	Nasdaq pulls plan to buy.
2	Google	GOOG	31.344	+1	Concerns about antitrust probes
3	Walt Disney	DIS	28.983	+3	Rough earnings
4	Community Health Systems	CYH	27.77	+10	Buyout of Tenet dies
5	Amazon.com	AMZN	26.884	+23	May pull out of more states because of taxes
6	Hewlett-Packard	HPQ	26.296	+773	Awful earnings, preceded by leak of CEO doc
7	Cisco Systems	CSCO	26.212	-6	Still worried about future restructuring
8	Toyota Motor Corporation	TM	26.212	+9	Japan quake cuts production
9	Eli Lilly	LLY	25.092	+72	Amylin sues over drug JV
10	Warner Music Group	WMG	24.812	-8	Will be sold off, but at low prices
1	NYSE Euronext	NYX	48.663	+99	Nasdaq kills buyout
6	Hewlett-Packard	HPQ	26.296	+773	Leaked memo kills shares
11	BorgWarner	BWA	24.467	+391	Gets almost nothing from Honeywell patent settlement
21	Stryker	SYK	19.764	+620	Moody’s savages over Orthovita buyout
22	iRobot	IRBT	19.465	+210	Rough reaction to analyst day

Data and ranking provided by the Flame Index.

Filed under: General, Research Tagged: AMZN, BWA, CSCO, CYH, DIS, GOOG, HPQ, LLY, NDAQ, NYX, TM, WMG

Top Analyst Upgrades & Downgrades (ANF, BA, BWA, BKI, KMX, CHK, COP, FDO, GT, NFLX, QCOM, CODE, SYMC)

Administrator — Thu, 27 Jan 2011 13:16:50 +0000

These are some of this Thursday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street research firms.

Abercrombie & Fitch Co. (NYSE: ANF) Cut to Market Perform at FBR.
Boeing Co. (NYSE: BA) Maintained Outperform but cut target to $88 at Credit Suisse.
BorgWarner Inc. (NYSE: BWA) Cut to Sell at Goldman Sachs.
Buckeye Technologies Inc (NYSE: BKI) Raised to Outperform and $32 target at Credit Suisse.
CarMax Inc. (NYSE: KMX) Raised to Outperform at RBC.
Chesapeake Energy Corporation (NYSE: CHK) Cut to Hold at Stifel Nicolaus.
ConocoPhillips (NYSE: COP) Reiterated Outperform but Raised target to $80 at Credit Suisse.
Family Dollar Stores Inc. (NYSE: FDO) Raised to Outperform at RBC.
Goodyear Tire & Rubber Co. (NYSE: GT) Cut to Neutral at Goldman Sachs.
Netflix, Inc. (NASDAQ: NFLX) Raised to Buy with $275.00 target at BofA/ML; Raised to Market Perform at Morgan Keegan.
QUALCOMM Incorporated (NASDAQ: QCOM) Raised to Outperform at Morgan Keegan.
Spansion Inc. (NASDAQ: CODE) Reiterated Buy and $28 target at Gleacher & Co.
Symantec Corporation (NASDAQ: SYMC) Raised to Buy at Jefferies.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: ANF, BA, BKI, BWA, CHK, CODE, COP, FDO, GT, KMX, NFLX, QCOM, SYMC

Top Analyst Upgrades/Downgrades (AWK, BP, BCS, BPX, BWA, COST, HAR, HPQ, INTC, LEA, PCLN, TEN, TWX, WIT)

Administrator — Wed, 08 Sep 2010 12:20:35 +0000

These are some of the top research calls for analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday:

American Water Works (NYSE: AWK) Cut to Neutral at HSBC.
BP plc (NYSE: BP) Raised to “A” at Ftich on debt ratng.
Barclays plc (NYSE: BCS) Cut to Market Perform at Bernstein.
Boston Properties (NYSE: BPX) Cut to Hold at Stifel Nicolaus.
BorgWarner (NYSE: BWA) Cut to Neutral at JPMorgan.
Costco Wholesale (NASDAQ: COST) Raised to Buy at Goldman Sachs.
Harman International (NYSE: HAR) Cut to Neutral at JPMorgan.
Hewlett-Packard Co. (NYSE: HPQ) Cut to Neutral at UBS.
Intel Corporation (NASDAQ: INTC) Cut to Neutral at UBS.
Lear Corp. (NYSE: LEA) Cut to Neutral at JPMorgan.
Priceline.com (NASDAQ: PCLN) Started as Market Perform at Morgan Keegan (late Tuesday).
Tenneco (NYSE: TEN) Cut to Neutral at JPMorgan.
Time Warner Inc. (NYSE: TWX) Cut to Hold at Benchmark Capital.
Wipro (NYSE: WIT) Started as Negative at Susquehanna.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AWK, BCS, BP, BPX, BWA, COST, HAR, HPQ, INTC, LEA, PCLN, TEN, TWX, WIT

Top Analyst Upgrades & Downgrades (ATI, ADY, BWA, CTCM, DGI, ERES, NOC, NVDA, BPOP, RBS, SWSI, WFMI)

Administrator — Tue, 10 Aug 2010 12:20:20 +0000

These are some of this Tuesday’s top analyst upgrades, downgrades, and initiations seen from Wall Street research calls:

Allegheny Technologies Inc. (NYSE: ATI) Raised to Buy at BofA/Merrill Lynch.
American Dairy Inc. (NYSE: ADY) Cut to Hold at Roth Capital.
BorgWarner Inc. (NYSE: BWA) Cut to Hold at Deutsche Bank.
CTC Media, Inc. (NASDAQ: CTCM) Raised to Overweight at Morgan Stanley.
DigitalGlobe Inc. (NYSE: DGI) Cut to Hold at Canaccord.
eResearch Technology (NASDAQ: ERES) Cut to Sell at Benchmark.
Northrop Grumman Corp. (NYSE: NOC) Cut to Market Perform at FBR.
NVIDIA Corporation (NASDAQ: NVDA) Maintained Neutral at Gleacher & Co.
Popular, Inc. (NASDAQ: BPOP) Started as Overweight at Morgan Stanley.
Royal Bank of Scotland Group plc (NYSE: RBS) Cut to Neutral at Credit Suisse.
Superior Well Services, Inc. (NASDAQ: SWSI) Cut to Hold at Jefferies.
Whole Foods Market Inc. (NASDAQ: WFMI) Raised to Buy at UBS.

JON C. OGG

Filed under: Analyst Calls Tagged: ADY, ATI, BPOP, BWA, CTCM, DGI, ERES, NOC, NVDA, RBS, SWSI, WFMI

Chart Breakout Calls: Oil, Financial, Industrial (USO, XLF, XLI, GE, COF, BWA)

Administrator — Tue, 03 Aug 2010 16:53:43 +0000

Chart breakouts are happening as the market recovers. Maybe. Monday’s triple digit DJIA gains on the first day of the month followed an extremely strong July. You just have to keep in mind that the end of April through the end of June looked like a downward staircase. Many of the key sectors still have plenty of room to recover before they get anywhere close to 52-week highs.

Our technical analysis affiliate, Adam Hewison of INO, has a quick audio-video chart analysis that has some conflicting data but showing that oil could rise back to $88.00 per barrel or so. United States Oil (NYSE: USO) is always the one to watch when it comes to tracking oil, although we’d throw up the caveat that there can be significant tracking error in this one with more volatility and pricing shenanigans around each monthly roll-dates.

Reuters has some quantitative data showing chart breakout possibilities in two key ETFs: Financial Select Sector SPDR (NYSE: XLF) and Industrial Select Sector SPDR (NYSE: XLI). After Reuters touted the financial and industrial ETFs, Mike Tarsala specifically noted some proprietary Reuters data showing breakout patterns and alerts in Capital One Financial Corp. (NYSE: COF), BorgWarner Inc. (NYSE: BWA), and others.

The same can be argued in conglomerates for chart breakouts. General Electric Co. (NYSE: GE) hit a high yesterday and today since June 3, 2010. This is only two trading days old, but conglomerates have been exceeding the market so far this year and many had a better July than the broad market. Analysts still have significant upside to their price target objectives in all of the conglomerate stocks.

Charts are very important and should not be ignored. Just keep in mind that they are just one tool. Every time there is a black swan or outlier event you hear pure technicians say, “There is no way the charts could have priced that in.” Unfortunately, pure technical analysis is supposed to do just that.

We are also seeing mixed to soft market trading on Tuesday just a day after the breakouts took hold. All of this is ahead of Friday’s key unemployment data that is likely to be a market-moving event.

JON C. OGG

Filed under: Banking, Charts, Conglomerates, ETF, Index, Oil & Gas, Technical Analysis Tagged: BWA, COF, GE, USO, XLF, XLI