24/7 Wall St. » CCIX

24/7 Wall St. Closing Bell (BAH, CVC, URBN, WPI, HON, ADES, BAMM, EBIX, LDL, RAVN, XRIT, ASTM, IDT, BBX, OMER, FFFD, CCIX, COOL)

Paul Ausick — Tue, 13 Mar 2012 20:04:41 +0000

Markets opened higher this morning following a solid report on US retail sales. Reports on both consumer and small business confidence both showed improvement in February (more coverage here and here). In the afternoon, the Federal Reserve left the fed funds rate unchanged and did not indicate any other changes to monetary policy (more coverage here). The Fed’s announcement pushed markets even higher to their best levels in nearly four years. The Treasury’s auction of 10-year notes boosted yields by three basis points. Crude oil moved higher today as well, with WTI crude closing up 0.4% at $106.71/barrel and Brent crude up 0.77% at $126.31/barrel. Gold settled at $1,694.20, down -0.3%

The unofficial closing bells put the DJIA up more than 218 points to 13,177.83 (1.68%), the NASDAQ rose more than 56 points (1.88%) to 3,039.88, and the S&P 500 rose 1.81% or nearly 25 points to 1,395.97.

There were several analyst upgrades and downgrades today, including Booz Allen Hamilton (NYSE: BAH) cut to ‘market perform’ at Wells Fargo; Cablevision Systems Corp. (NYSE: CVC) cut to ‘hold’ at Deutsche Bank; Urban Outfitters Inc. (NASDAQ: URBN) maintained as ‘neutral’ but estimates lowered at Credit Suisse (more coverage here); Watson Pharmaceuticals Inc. (NYSE: WPI) reiterated as ‘buy’ with $70 target price at Argus; and Honeywell International Inc. (NYSE: HON) reiterated as ‘buy’ with $70 target price at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: ADA-ES Inc. (NASDAQ: ADES) is up 2.4% at $25.87 after posting a new 52-week high of $27.00; Books-a-Million Inc. (NASDAQ: BAMM) is up 6.9% at $3.10; Ebix Inc. (NASDAQ: EBIX) is up 5.2% at $23.86; Lydall Inc. (NYSE: LDL) is up 6.3% at $9.75; Raven Industries Inc. (NASDAQ: RAVN) is up 3.8% at $63.77; X-Rite Inc. (NASDAQ: XRIT) is up 1.3% at $4.47; Aastrom Biosciences Inc. (NASDAQ: ASTM) is up 1.5% at $2.07; and IDT Corp. (NYSE: IDT) is up 16.3% at $9.77.

Other standouts from today include the following stocks:

BankAtlantic Bancorp Inc. (NYSE: BBX) is up nearly 87% at $3.60. The bank holding company received a sweetened deal this morning on its pending acquisition by BB&T Corp. (NYSE: BBT).

Omeros Corp. (NASDAQ: OMER) is up about 32% at $10.10 after posting a new 52-week high of $10.88 earlier. The biopharmaceutical company’s reported a successful phase III drug trial this morning.

North Central Bancshares Inc. (NASDAQ: FFFD) is up more than 36% at $30.03 after posting a new 52-week high of $30.10 earlier. The bank holding company is merging with Great Western Bancorporation Inc..

Coleman Cable Inc. (NASDAQ: CCIX) is down more than -20% at $10.35. The electrical equipment maker reported weak quarterly earnings and offered a weak forecast this morning.

Majesco Entertainment Co. (NASDAQ: COOL) is down more than -13% at $2.57. The video game maker reported weak earnings last night. More coverage here.

Stay tuned for Wednesday. Federal Reserve Chairman Ben Bernanke is giving a speech in the morning. 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. – Import and export prices
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 30-year Treasury bond auction

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ADES, ASTM, BAH, BAMM, BBX, CCIX, COOL, CVC, EBIX, FFFD, HON, IDT, LDL, OMER, RAVN, URBN, WPI, XRIT

Mid-day Movers (BBX, MDS, WOLF, CCIX, COOL)

Paul Ausick — Tue, 13 Mar 2012 16:19:57 +0000

Shortly after noon ET today, the three major US stock indexes have continued to rise, with the DJIA up about 105 points at around13,065, the Nasdaq up about 29 points at 3,012, and the S&P 500 up nearly 12 points to around 1,383. A good report on retail sales sparked the buying trend at this morning’s opening bell and the business inventories report showed modest growth of 0.7%. The dollar is higher today, with the dollar index up 0.12% at 79.989. Crude prices are also higher, with Brent up 0.73% and WTI up 0.82%.

Among the major movers at around noon today are BankAtlantic Bancorp Inc. (NYSE: BBX), Midas Inc. (NYSE: MDS), Great Wolf Resorts Inc. (NASDAQ: WOLF), Coleman Cable Inc. (NASDAQ: CCIX), and Majesco Entertainment Co. (NASDAQ: COOL).

BankAtlantic is up nearly 82% at $3.51. Volume is already nearly 13x the daily average of about 78,000 shares traded. The bank holding company received a sweetened deal this morning on its pending acquisition by BB&T Corp. (NYSE: BBT).

Midas is up more than 27% at $11.45 after posting a new 52-week high of $11.47 earlier this morning. Volume is already more than 200x the daily average of about 52,000 shares traded. The auto parts maker and retailer has accepted a buyout from Japan’s Sumitomo for $11.50/share, or $173 million.

Great Wolf is up nearly 23% at $5.14 after posting a new 52-week high of $5.19 earlier. Volume is already more than 55x the daily average of around 66,000 shares traded. The water-park resort company is being acquired by an affiliate Apollo Global Management LLC (NYSE: APO). More coverage here.

Coleman Cable is down more than -22% at $10.09. Volume is already more than 11x the daily average of around 52,000 shares traded. The electrical equipment maker reported weak quarterly earnings and offered a weak forecast this morning.

Majesco is down nearly -11% at $2.65. Volume is already more than double the daily average of around 870,000 shares traded. The video game maker reported weak earnings last night. More coverage here.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BBX, CCIX, COOL, MDS, WOLF

Morning Movers (BBX, MDS, OMER, CCIX, COOL)

Paul Ausick — Tue, 13 Mar 2012 14:36:41 +0000

The three major US equities indexes opened higher this morning as investors reacted positively to the 1.1% gain in February retail sales. This afternoon’s announcement on interest rates by the Federal Reserve is not expected to offer any dramatic change in Fed policy, but tea-leaves readers will be searching for clues to future movement in Fed policies. The dollar is stornger today, up 0.40% this morning at 80.213. The DJIA is up about 49 points at around 13,008, the Nasdaq Composite is up about 14 points at around 2,998, and the S&P 500 is up 6 points at around 1,377.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include BankAtlantic Bancorp Inc. (NYSE: BBX), Midas Inc. (NYSE: MDS), Omeros Corp. (NASDAQ: OMER), Coleman Cable Inc. (NASDAQ: CCIX), and Majesco Entertainment Co. (NASDAQ: COOL).

BankAtlantic is up more than 92% at $3.71. Volume is already 7x the daily average of about 78,000 shares traded. The bank holding company received a sweetened deal this morning on its pending acquisition by BB&T Corp. (NYSE: BBT).

Midas is up more than 27% at $11.44 after posting a new 52-week high of $11.47 earlier this morning. Volume is already more than 160x the daily average of about 52,000 shares traded. The auto parts maker and retailer has accepted a buyout from Japan’s Sumitomo for $11.50/share, or $173 million.

Omeros is up about 19% at $9.10 after posting a new 52-week high of $9.91 earlier. Volume is already more than 6x the daily average of around 66,000 shares traded. The biopharmaceutical company’s reported a successful phase III drug trial this morning.

Coleman Cable is down more than -20% at $10.30. Volume is already more than 9x the daily average of around 52,000 shares traded. The electrical equipment maker reported weak quarterly earnings and offered a weak forecast this morning.

Majesco is down nearly -13% at $2.59. Volume is already higher the daily average of around 870,000 shares traded. The video game maker reported weak earnings last night. More coverage here.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BBX, CCIX, COOL, MDS, OMER

Cramer’s Russell 2000 Index Rebalance Stock Picks

247wallst — Thu, 31 May 2007 17:31:44 +0000

Cramer wanted to talk about the trade of the year that hasn’t happened: The Russell Rebalance. After the picks below is his additional commentary. The rough range expected this year for stocks to be added is a market cap of $233 million on the low-end to $3 Billion on the high-end, has to be on a major exchange, has to be a $1.00 stock, no LLC and no trusts, no ADR. He is predicting 3 of his favorite stocks that he thinks will join the Russell 2000 Index and go up ahead of it:

1) Coleman Cable (CCIX-NASDAQ) that makes electrical wiring and cable that doubled via an acquisition that only has one analyst and could become a target itself.

2) FC Stone (FCSX-NASDAQ), a commodities risk management company that came public in March that only has 2 analysts.

3) Great Lakes Dredge & Dock (GLDD-NASDAQ), a demolition and dredging services company that is protected by the Jones Act that prevents foreign competitors from taking its business with 40% market share.

The Russell 2000 has much money indexed to them and they have to berebalanced because of buyouts or because many fallout during the year.The Russell people are waiting for June 22, 2007. The ones that haveto get dumped, and the ones that need to be added get bought up. Theadditions and deletions are based on prices for TODAY’s close. Thereare many that will be added and many that will be booted. TonightCramer is working on the Russell 2000 for more smaller cap stocks.Cramer said that once these companies get added, they tend to getcovered more by analysts. The average gains of the ones that went inwas 44% for the half that went up and a 26% average loss for the onesthat went down after being added. At least Cramer told you not to buythem in after-hours today.

Jon C.Ogg
May 31, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.