24/7 Wall St. » JVA

24/7 Wall St. Closing Bell — September 12, 2012: Markets Get No Traction from Germany’s Decision (AAPL, KMI, POT, RENN, PSX, DG, ADP, PLL, SCMR, UEC, SABA, LRN, PIR, SHLD, SHOSR, FB, ODP, JVA, HK, MNST)

Paul Ausick — Wed, 12 Sep 2012 20:04:49 +0000

The three major U.S. stock indexes opened higher this morning and, following a morning dip, have remained in positive territory (barely) for most of the day. The first bit of big news that moved markets came from Germany, where the Constitutional Court approved Germany’s participation in the eurozone bailout fund (more coverage here). In Asia, China’s premier indicated that more stimulus might be appropriate to help spur domestic consumption, and that also helped buoy markets. The announcement of the new iPhone 5 from Apple Inc. (NASDAQ: AAPL) gave equities a momentary lift until investors remembered that they had already priced the new device in (more coverage here).

The U.S. dollar index is lower today, now down 0.19% at 79.705. The GSCI commodity index is up about 0.5% at 681.05, with commodities prices mixed. The corn crop production report pushed corn prices down another 1% to around $7.68 per bushel (more coverage here). WTI crude oil closed down 0.2% today, at $97.01 a barrel, following an unexpected jump in crude inventories (more coverage here). Brent crude trades up 0.3% at $115.73 a barrel. Natural gas is up 1.7% today to $3.044 per thousand cubic feet. Gold closed at $1,733.70 an ounce, down 0.1% today.

The unofficial closing bells put the DJIA up about 10 points to 13,333.35 (0.07%), the NASDAQ rose nearly 10 points (0.32%) to 3,114.31, and the S&P 500 rose 0.21% or about 3 points to 1,436.57.

There were several analyst upgrades and downgrades today, including Kinder Morgan Inc. (NYSE: KMI) raised to ‘neutral’ at BofA/ML; Potash Corp. of Saskatchewan (NYSE: POT) cut to ‘neutral’ at Citigroup; Renren Inc. (NYSE: RENN) started as ‘sell’ at Citigroup ; Phillips 66 (NYSE: PSX) raised to ‘overweight’ at Morgan Stanley; Dollar General Corp. (NYSE: DG) started as ‘overweight’ with a price target of $61 at Piper Jaffray; and Automatic Data Processing Inc. (NASDAQ: ADP) cut to ‘underperform’ at Jefferies.

There were no earnings reports of note out this morning or after markets closed last night. After markets close today we are scheduled to hear from Pall Corp. (NYSE: PLL), Sycamore Networks Inc. (NASDAQ: SCMR), Uranium Energy Corp. (NYSEMKT: UEC), and Saba Software Inc. (NASDAQ: SABA). Before markets open on Thursday we are set to hear from K12 Inc. (NYSE: LRN) and Pier 1 Imports Inc. (NYSE: PIR).

One interesting note from today comes from Sears Holdings Corp. (NASDAQ: SHLD), which debuted a rights listing for the spinoff of the company’s Hometown and Outlet stores. Trading under the ticker symbol “SHOSHR” on the Nasdaq, options went out at $1.75 and are trading at $XX in the last half hour of trading today. Volume has been very heavy, with nearly 20 million options changing hands. The stock is scheduled to begin trading on the Nasdaq next month under the ticker symbol “SHOS”.

Some standouts from today include the following stocks:

Facebook Inc. (NASDAQ: FB) is up 7.3% at $20.84. The social network company’s CEO answered questions at a technical conference last night and managed to put some air under the stock price. More coverage here.

Office Depot Inc. (NYSE: ODP) is up 19.8% at $2.27. The office supply store on essentially no news today.

Coffee Holding Co. (NASDAQ: JVA) is up 18.7% at $8.71. The coffee roaster and wholesaler reported solid earnings and revenues, and coupled with some bad news on the coffee crop, shares jumped today.

Halcon Resources Inc. (NYSE: HK) is down 11.5% at $7.57. The independent oil & gas company announced a secondary offering of 35 million shares on behalf of a shareholder. The company will receive no proceeds from the sale.

Monster Beverage Corp. (NASDAQ: MNST) is down 9.4% at $51.07. The energy drink maker tumbled on news that two U.S. Senators have asked the U.S. Food and Drug Administration to assess health risks from caffeine-heavy beverages.

Stay tuned for Thursday. The Fed’s FOMC meeting continues today and Fed governor Sarah Bloom Raskin is giving a speech. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Producer price index
11:30 a.m. – EIA weekly natural gas storage report
11:30 a.m. – 30-year bond auction
12:30 p.m. – FOMC announcement
2:00 p.m. – FOMC forecasts
2:00 p.m. – U.S. Treasury budget
2:15 p.m. – Fed Chairman’s press conference
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AAPL, ADP,, DG, FB, HK, JVA, KMI, LRN, MNST, ODP, PIR, PLL, POT, PSX, RENN, SABA, SCMR, SHLD, SHOSR, UEC

Today’s Market Winners and Losers

247sam — Wed, 12 Sep 2012 14:43:49 +0000

The stock market is up Wednesday, with the Dow Jones Industrial Average up 0.12%, the Nasdaq up 0.01% and the S&P 500 up 0.10%. Today’s winners include a company whose CEO reassured investors about growth at a widely publicized conference, along with a coffee company beating Wall St. earnings estimates. Meanwhile, today’s loser missed earnings estimates.

These are Wednesday’s biggest winners and loser.

Biggest Winners

Shares of Facebook Inc. (NASDAQ: FB) are up 5.30% to $20.46 on trading volume of 41.1 million shares. At a conference hosted by technology blog TechCrunch, CEO Mark Zuckerberg assured investors that Facebook is on path to profit from the heavy shift toward mobile advertising. The 52-week high is $45.00.

Shares of Coffee Holding Co. Inc. (NASDAQ: JVA) are up 18.51% to $8.70 on trading volume of 1.8 million shares. The company reported earnings of 19 cents a share in the most recent quarter, better than the penny a share expected by analysts polled by Thomson Reuters. The 52-week high is $19.24.

Biggest Loser

Shares of Globecomm Systems Inc. (NASDAQ: GCOM) are down 16.32% to $11.13 on trading volume of 1.1 million shares. Excluding one-time charges, the company reported fourth-quarter earnings of 13 cents a share, below the 20 cents a share Wall Street analysts were expecting. The 52-week low is $9.44.

Samuel Weigley

Follow him on Twitter: SWeigley

Filed under: 24/7 Wall St. Wire, Market Roundups, Most Actives Tagged: FB, GCOM, JVA

24/7 Wall St. Closing Bell — June 13, 2012 (JPM, AAPL, CHK, JNJ, MCD, PETM, CASY, OSH, JVA, KFY, LUB, KR, PIR, SFD, WGO, DELL, AONE, ARNA)

Paul Ausick — Wed, 13 Jun 2012 20:04:42 +0000

The three major US stock indexes opened lower this morning following European markets where equities also traded lower this morning. US data related to retail sales (our coverage here) and producer prices were somewhat weaker than expected, which also weighed on traders this morning. The US financial services sector helped lift the market following a Congressional appearance byJamie Dimon, CEO of JPMorgan Chase & Co. (NYSE: JPM) (our coverage here).

The US dollar index fell today, now down -0.44% at 82.064. The GSCI commodity index is down fractionally at 581.02, with commodities prices mixed today. WTI crude oil closed down -0.2% at $83.14/barrel. Brent crude trades down -0.11% at $97.03/barrel. Natural gas rose fell 2% today to $2.186/thousand cubic feet. Gold settled up 0.4%, at $1,619.40/ounce.

The unofficial closing bells put the DJIA down nearly 79 points to 12,495.02 (-0.63%), the NASDAQ fell more than 24 points (-0.86%) to 2,818.61, and the S&P 500 fell -0.70% or more than 9 points to 1,314.87.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘buy’ with a target price of $670 at Argus; Chesapeake Energy Corp. (NYSE: CHK) cut to ‘market perform’ at Bernstein; Johnson & Johnson (NYSE: JNJ) raised to ‘overweight’ at JPMorgan, raised to ‘buy’ at Jefferies, and raised to ‘outperform’ at Raymond James; McDonald’s Corp. (NYSE: MCD) cut to ‘neutral’ at Goldman Sachs; and PetSmart Inc. (NASDAQ: PETM) started as ‘overweight’ at Morgan Stanley.

Earnings reports since markets closed last night have been scarce, but here are some price changes for reporting companies as of the last half hour of trading today: Casey’s General Stores Inc. (NASDAQ: CASY) is down -12.6% at $52.35; Orchard Supply Hardware Stores Corp. (NASDAQ: OSH) is up 0.6% at $16.02; and Coffee Holding Company Inc. (NASDAQ: JVA) is down -15.5% at $6.15 after posting a new 52-week low of $6.00 earlier today. Korn/Ferry International (NYSE: KFY) and Luby’s Inc. (NYSE: LUB) report quarterly earnings after the markets close today.

Tomorrow we are scheduled to have earnings from Kroger Co. (NYSE: KR), Pier 1 Imports Inc. (NYSE: PIR), Smithfield Foods Inc. (NYSE: SFD), and Winnebago Industries Inc. (NYSE: WGO).

Other standouts from today include the following stocks:

Dell Inc. (NASDAQ: DELL) is up 2.3% at $12.25. The company announced its first-ever dividend after markets closed yesterday. More coverage here.

A123 Systems Inc. (NASDAQ: AONE) down -17.7% at $1.30. The battery maker is giving back some of yesterday’s 50% gain. More coverage here.

Arena Pharmaceuticals Inc. (NASDAQ: ARNA) is up 2% at $8.04 after posting a new 52-week high of $8.65 earlier today. The drug maker’s shares are rising in anticipation of a decision on a weight-loss drug. More coverage here.

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

8:30 a.m. – Consumer price index
8:30 a.m. – New claims for unemployment benefits
10:30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year note auction
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: General Tagged: AAPL, AONE, ARNA, CASY, CHK, DELL, JNJ, JPM, JVA, KFY, KR, LUB, MCD, OSH, PETM, PIR, SFD, WGO

24/7 Wall St. Closing Bell — June 7, 2012 (HAL, ORCL, VZ, CIM, CHTR, CMVT, SJM, LULU, TITN, XIDE, PNY, JVA, TA, RDS-A, MDR, MOH)

Paul Ausick — Thu, 07 Jun 2012 20:08:00 +0000

The three major US stock indexes opened higher this morning following the announcement of an interest rate cut in China (our coverage here). Spain sold more than €2 billion in bonds at slightly more than 6%, a better-than-expected showing (our coverage here). Fed Chairman Ben Bernanke testified before Congress today and let some air out of the notion that another quantitative easing program was coming (our coverage here). Going into the last hour of trading the DJIA is up nearly 1%, the Nasdaq is up about 0.25%, and the S&P 500 is up about 0.65%. By day’s end, only the DJIA would show a slight gain.

The US dollar index fell today, now down -0.31% at 82.068. The GSCI commodity index is up about 1.3% at 593.06, with commodities prices generally higher again today on the weaker dollar. WTI crude oil closed down -0.2%% at $84.82/barrel. Brent crude trades down -0.85% at $99.78/barrel. Natural gas fell about -6% today to $2.276/thousand cubic feet on the weekly EIA storage report (our coverage here). Gold settled down -2.8% today, at $1,588.00/ounce.

The unofficial closing bells put the DJIA up about 46 points to 12,460.96 (0.37%), the NASDAQ rose fell nearly 14 points (-0.48%) to 2,831.02, and the S&P 500 fell 0.01% or less than 1 point to 1,314.99.

There were several analyst upgrades and downgrades today, including Halliburton Co. (NYSE: HAL) cut to ‘neutral’ at Macquarie; Oracle Corp. (NASDAQ: ORCL) maintained as ‘hold’ with a price target of $30 at Canaccord Genuity; Verizon Communications Inc. (NYSE: VZ) reiterated as ‘buy’ and target price raised from $44 to $47 at Argus; Chimera Investment Corp. (NYSE: CIM) started as ‘market perform’ at Wells Fargo; and Charter Communications Inc. (NASDAQ: CHTR) started as ‘outperform’ at Sanford Bernstein.

Earnings reports since markets closed last night have been scarce, but here are some price changes for reporting companies as of the last half hour of trading today: Comverse Technology Inc. (NASDAQ: CMVT) is down -7.6% at $5.61 after posting a new 52-week low of $5.40 earlier today; J.M. Smucker Co. (NYSE: SJM) is up 0.2% at $76.19; Lululemon Athletica Inc. (NASDAQ: LULU) is down -8.5% at $64.06 (more coverage here); and Titan Machinery Inc. (NASDAQ: TITN) is down -20.7% at $26.43.

On Friday, we are scheduled to get earnings reports from Exide Technologies (NASDAQ: XIDE), Piedmont Natural Gas Co. Inc. (NYSE: PNY), and Coffee Holding Co. Inc. (NASDAQ: JVA).

Other standouts from today include the following stocks:

TravelCenters of America LLC (NYSE: TA) is up 16.6% at $5.56. The Interstate Highway system travel center operator has signed a deal with Royal Dutch Shell plc (NYSE: RDS-A) to offer natural gas fueling at a minimum of 100 of TravelCenters’ 238 locations.

McDermott International Inc. (NYSE: MDR) is up 9.6% at $10.70. The construction firm has experienced some serious insider buying. More coverage here.

Molina Healthcare Inc. (NYSE: MOH) is down -30% at $17.81. The supplier of Medicaid solutions withdrew its 2012 guidance complaining of margin pressure in Texas, where costs are higher than premium revenues.

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

8:30 a.m. – International trade
10:00 a.m. – Wholesale trade

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: CHTR, CIM, CMVT, HAL, JVA, LULU, MDR, MOH, ORCL, PNY, RDS-A, SJM, TA, TITN, VZ, XIDE

Smucker’s Drops Coffee Prices: Will Others Follow?

Paul Ausick — Tue, 15 May 2012 12:59:54 +0000

Food processor J.M. Smucker Co. (NYSE: SJM) announced this morning that it was lowering the price on its coffee brands by an average of 6% “in response to sustained declines in green coffee costs.” Smucker’s brands include Folgers, Millstone, Cafe Bustelo, and Dunkin’ Donuts under license from Dunkin’ Brands Group Inc. (NASDAQ: DNKN) in retail channels only.

The question now, of course, is whether Kraft Foods Inc. (NYSE: KFT), maker of Maxwell House and Gevalia brands among others, Starbucks Corp. (NASDAQ: SBUX), Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR), Peet’s Coffee & Tea Inc. (NASDAQ: PEET), and Coffee Holding Co. Inc. (NASDAQ: JVA) will follow suit. Kraft would seem like a good bet to lower prices to compete in the retail space, but the premium coffee roasters are more likely to leave prices where they are as long as they can in order to make a little extra margin.

Last week’s price for arabica beans was about $1.90/pound. A year ago the price was just over $3.00/pound. Robusta (cheaper) beans currently cost about $1.14/pound, about 10% below the five-year high of $1.26/pound set last June.

A continued decline in arabica prices may force the premium roasters to lower prices because the story will hit the headlines and consumers will start making some noise about being gouged by the coffee companies. But that day is a ways off yet. But imagine, both gasoline and coffee prices falling at the same time. What an idea!

Paul Ausick

Filed under: Food, Retail Tagged: DNKN, GMCR, JVA, KFT, PEET, SBUX, SJM

Green Mountain Boiled Following Earnings (GMCR, SBUX, JVA)

Paul Ausick — Thu, 03 May 2012 18:58:59 +0000

Our story last night after Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) reported shares down more than -37% after the company screwed up in just about every possible way. It got even worse today, with shares plummeting even further, down nearly -49% with an hour or so of trading still to go.

Green Mountain’s partner in some products and competitor in others, Starbucks Corp. (NASDAQ: SBUX), isn’t getting beaten up too badly because its deal with Green Mountain isn’t critical to the Seattle-based giant. One stock that is getting beaten up is Coffee Holding Co. Inc. (NASDAQ: JVA), down about -12%. Coffee Holding Co. is one of Green Mountain’s main suppliers, not a good thing to be today.

Among the many issues Green Mountain listed in its earnings report last night was higher coffee prices. That seems a little disingenuous. Coffee prices today are hovering around $1.75/pound for Arabica, down from more than $3/pound just a year ago. Green Mountain must have bought a mountain of the stuff and saved it until now in order to be blaming coffee prices, which have been falling almost non-stop since a September peak at around $2.90/pound.

Green Mountain’s trading volume today tops 73 million shares, more than 13x average daily volume. Shares are down -49.4% at $25.08 after posting a new 52-week low of $24.40. The prior range was $39.42-$115.98. Coffee Holding Co. shares are down about -12.6% at $7.67 in a 52-week range of $5.63-$30.98. Volume is only slightly higher than normal.

Paul Ausick

Filed under: Active Trader, Commodities, Commodities & Metals, Earnings, Food, HI/LOW, Retail Tagged: GMCR, JVA, SBUX

24/7 Wall St. Closing Bell (NSC, DNDN, EBAY, CELG, DLR, AXAS, AMCX, CATO, E, FF, ROST, TA, CLWT, TWER, AIXG, WGO, JVA, SCHL, FLML, VRS, EGLE, VRNG)

Paul Ausick — Thu, 15 Mar 2012 20:07:06 +0000

Markets opened higher this morning after positive news on new unemployment benefits claims and manufacturing (more coverage here). Indexes have risen more or less steadily all day, with the S&P set to close above 1,400 for the first time since June 2008. The US dollar index is weaker today, down -0.50% at 80.165. Most commodities rose on the dollar weakness, with the notable exception of crude oil. WTI crude oil closed down -0.3% at $105.11/barrel, and Brent crude trades down -1.52% at $122.69/barrel. Gold settled up 1% today, at $1,659.50.

The unofficial closing bells put the DJIA up about 58 points to 13,252.76 (0.44%), the NASDAQ rose more than 15 points (0.51%) to 3,056.37, and the S&P 500 rose 0.60% or more than 8 points to 1,402.59.

There were several analyst upgrades and downgrades today, including Norfolk Southern Corp. (NYSE: NSC) cut to ‘equal weight’ at Barclays; Dendreon Corp. (NASDAQ: DNDN) started as ‘hold’ at Stifel Nicolaus; Ebay Inc. (NASDAQ: EBAY) cut to ‘neutral’ at Credit Suisse; Celgene Corp. (NASDAQ: CELG) started as ‘buy’ at Stifel Nicolaus; and Digital Realty Trust (NYSE: DLR) cut to ‘hold’ at Jefferies.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Abraxas Petroleum Corp. (NASDAQ: AXAS) is down -4.6% at $3.55; AMC Networks Inc. (NASDAQ: AMCX) is down -4% at $44.18; Cato Corp. (NYSE: CATO) is down -0.2% at $27.51; ENI S.p.A. (NYSE: E) is up 1.1% at $47.89; FutureFuel Corp. (NYSE: FF) is up 1.4% at $11.53; Ross Stores Inc. (NASDAQ: ROST) is down -0.5% at $56.31; and Travelcenters of America LLC (AMEX: TA) is up 15% at $6.10.

Other standouts from today include the following stocks:

Euro Tech Holdings Co. Ltd. (NASDAQ: CLWT) is up 55% at $4.50. The Chinese water treatment company has been awarded two new contracts.

Towerstream Corp. (NASDAQ: TWER) is up nearly 42% at $3.69. The 4G wireless provider reported better-than-expected earnings after markets closed yesterday.

Aixtron SE (NASDAQ: AIXG) is up more than 18% at $131. The LED maker is getting a boost from an analyst’s upgrade. More coverage here.

Winnebago Industries Inc. (NYSE: WGO) is up about 16% at $10.32. The recreational vehicle maker missed estimates this morning, but reported a strong order backlog.

Coffee Holding Co. Inc. (NASDAQ: JVA) is up more than 15% at $13.73. The coffee wholesaler continues to attract buying on its strong earnings report last week.

Scholastic Corp. (NASDAQ: SCHL) is up more than 14% at $36.89 after posting a new 52-week high of $40.17 earlier today. The children’s media company raised its 2012 guidance.

Flamel Technologies SA (NASDAQ: FLML) is down nearly -23% at $6.18. The French-based biopharmaceutical company has acquired Eclat Pharmaceuticals and Eclat’s CEO will take over the combined company.

Verso Paper Corp. (NYSE: VRS) is down nearly -13% at $1.77. The paper firm is giving back last week’s gains as its tender offer had to be extended.

Eagle Bulk Shipping Inc. (NASDAQ: EGLE) is down more than -12% at $1.58. The dry bulk shipper reported a narrower-than-expected loss yesterday, but shipping companies still face a terrible year.

Vringo Inc. (AMEX: VRNG) is down more than -11% at $1.63. The social networking software company is merging with Innovate/Protect Inc. See the press release for details.

Stay tuned for Friday. Chicago Federal Reserve President Charles Evans is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – Consumer price index
9:15 a.m. – Industrial production
9:55 a.m. – Reuters/University of Michigan consumer sentiment index

Paul Ausick

Filed under: Active Trader, Market Close Tagged: AIXG, AMCX, AXAS, CATO, CELG, CLWT, DLR, DNDN, E, EBAY, EGLE, FF, FLML, JVA, NSC, ROST, SCHL, TA, TWER, VRNG, VRS, WGO

Morning Movers (SCHL, TWER, JVA, EGLE, FLML)

Paul Ausick — Thu, 15 Mar 2012 14:23:15 +0000

The three major US equities indexes opened higher this morning following a reported drop in new claims for unemployment benefits. The US producer price index rose pretty much in-line with expectations (more coverage here) and the Empire State manufacturing index came in better than expected (more coverage here). The dollar is slightly weaker today, down -0.18% this morning at 80.421. The DJIA is down more than 2 points at around 13,192, the Nasdaq Composite is up about 8 points at around 3,049, and the S&P 500 is down less than 1 point at around 1,394.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Scholastic Corp. (NASDAQ: SCHL), Towerstream Corp. (NASDAQ: TWER), Coffee Holding Co. Inc. (NASDAQ: JVA), Eagle Bulk Shipping Inc. (NASDAQ: EGLE), and Flamel Technologies SA (NASDAQ: FLML).

Scholastic Corp. is up more than 20% at $38.75 after posting a new 52-week high of $40.17 earlier today. Volume is already more than 3x the daily average of about 178,000 shares traded. The children’s media company raised its 2012 guidance.

Towerstream is up nearly 22% at $3.17. Volume is already about 3x the daily average of about 337,000 shares traded. The 4G wireless provider reported better-than-expected earnings after markets closed yesterday.

Coffee Holding Co. is up more than 16% at $13.87. Volume is already more than double the daily average of around 533,000 shares traded. The coffee wholesaler continues to attract buying on its strong earnings report last week.

Eagle Bulk Shipping is down about -9% at $1.64. Volume is already about one-third the daily average of around 975,000 shares traded. The dry bulk shipper reported a narrower-than-expected loss yesterday, but shipping companies still face a terrible year.

Flamel Technologies is down more than -19% at $6.18. Volume is already more than double the daily average of around 158,000 shares traded. The French-based biopharmaceutical company has acquired Eclat Pharmaceuticals and Eclat’s CEO will take over the combined company.

Paul Ausick

Filed under: Active Trader, Market Open, Market Roundups Tagged: EGLE, FLML, JVA, SCHL, TWER

24/7 Wall St. Closing Bell (JNJ, KSS, WTW, DHI, LEN, TOL, ACI, ALIM, ZUMZ, ARO, ANN, CCL, FGP, HALO, URRE, JVA, QSFT, ASTM, DYN, ZGNX, GMCR)

Paul Ausick — Fri, 09 Mar 2012 21:05:53 +0000

US equities opened higher this morning following the report on a US non-farm payroll gain of 227,000 jobs (more coverage here). In Europe, the Greek debt swap deal went off smoothly, but the declaration late this afternoon by the International Swaps and Derivatives Association (ISDA) that the swap was, in fact, a “credit event” sent stocks down sharply though the three major indexes remain in positive territory about half an hour before the markets close. The dollar opened up this morning and got stronger as the day went on, with the dollar index now up 1.07% at 79.987. Crude oil was up today, with WTI crude settling up 0.8% at $107.40/barrel and Brent crude trading up 0.29% at $125.80/barrel. Gold settled higher by 0.8% at $1,711.50/ounce.

The unofficial closing bells put the DJIA up 14 points to 12,921.94 (0.11%), the NASDAQ rose nearly 18 points (0.6%) to 2,988.34, and the S&P 500 rose 0.36% or nearly 5 points to 1,370.87.

There were several analyst upgrades and downgrades today, including Johnson & Johnson (NYSE: JNJ) started as ‘hold’ at Jefferies; Kohl’s Corp. (NYSE: KSS) raised to ‘buy’ at Jefferies; Weight Watchers International Inc. (NYSE: WTW) started as ‘overweight’ (!) at Barclays; D.R. Horton Inc. (NYSE: DHI), Lennar Corp. (NYSE: LEN), and Toll Brothers Inc. (NYSE: TOL) all raised to ‘outperform’ at Credit Suisse; and Arch Coal Inc. (NYSE: ACI) cut to ‘market perform’ at BMO.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Alimera Systems Inc. (NASDAQ: ALIM) is down -3.4% at $4.00; Zumiez Inc. (NASDAQ: ZUMZ) is up 5.7% at $34.16 after posting a new 52-week high of $34.44 earlier today; Aeropostale Inc. (NYSE: ARO) is up 2.6% at $19.45; Ann Inc. (NYSE: ANN) is up 6% at $27.36; Carnival Corp. (NYSE: CCL) is down -1.2% at $30.57 (more coverage here); Ferrellgas Partners LP (NYSE: FGP) is down -2.6% at $16.80; Halozyme Therapeutics Inc. (NASDAQ: HALO) is down -1.8% at $11.30; and Uranium Resources Inc. (NASDAQ: URRE) is up 3.1% at $1.00.

Other standouts from today include the following stocks:

Coffee Holding Co. Inc. (NASDAQ: JVA) is up nearly 38% at $10.81. The integrated coffee roaster and distributor posted better-than-expected quarterly results this morning.

Quest Software Inc. (NASDAQ: QSFT) is up more than 24% at $24.09. The firm has agreed to be acquired at $23/share. More coverage here.

Aastrom Biosciences Inc. (NASDAQ: ASTM) is up more than 21% at $2.21. The biotechnology company has completed a private placement of $40 million in Series B convertible preferred stock. More coverage here.

Dynegy Inc. (NYSE: DYN) is down more than -38% at $0.72 after posting a new 52-week low of $0.59 earlier today. A Delaware court ruled that the company had engaged in a “fraudulent transfer” of assets prior to its bankruptcy filing.

Zogenix Inc. (NASDAQ: ZGNX) is down nearly -18% at $2.05. The drug maker posted a wider than expected loss after the markets closed yesterday.

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) is down nearly -16% at $52.61. The company is being hit hard by yesterday’s announcement from Starbucks Inc. (NASDAQ: SBUX) that it will launch a single-cup espresso and coffee machine to compete with the Keurig products from Green Mountain. More coverage here and 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 Treasury bill auction
1:00 p.m. – 3-year Treasury note auction
2.00 p.m. – US Treasury budget report

Have a great weekend.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ACI, ALIM, ANN, ARO, ASTM, CCL, DHI, DYN, FGP, GMCR, HALO, JNJ, JVA, KSS, LEN, QSFT, TOL, URRE, WTW, ZGNX, ZUMZ

Mid-day Movers (ASTM, JVA, QSFT, GMCR, ZGNX)

Paul Ausick — Fri, 09 Mar 2012 17:03:34 +0000

Shortly before noon ET today, all three major US stock indexes have posted gains, with the DJIA up about 41 points at around12,949, the Nasdaq up about 20 points at 2,991, and the S&P 500 up more than 7 points to around 1,373. This morning’s report on US non-farm payroll gains. In Europe, the Greek debt swap deal went off smoothly, but it will be interesting to see what happens if the deal triggers a “credit event,” as many expect. The dollar is up sharply today, with the dollar index up 1.10% at 80.013. The stronger economic news is pushing up crude prices, with Brent up more than 0.50% and WTI up around 1.3%.

Among the major movers at around noon today are Aastrom Biosciences Inc. (NASDAQ: ASTM), Coffee Holding Co. Inc. (NASDAQ: JVA), Quest Software Inc. (NASDAQ: QSFT), Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR), and Zogenix Inc. (NASDAQ: ZGNX).

Aastrom is up more than 30% at $2.37. Volume is already about 6x the daily average of about 205,000 shares traded. The biotechnology company has completed a private placement of $40 million in Series B convertible preferred stock.

Coffee Holding Co. is up more than 26% at $9.92. Volume is already nearly 10x the daily average of about 276,000 shares traded. The integrated coffee roaster and distributor posted better-than-expected quarterly results this morning.

Quest Software is up more than 23% at $23.90. Volume is already about 16x the daily average of around 500,000 shares traded. The firm has agreed to be acquired at $23/share. More coverage here.

Green Mountain Coffee is down more than -16% at $52.21. Volume is already approaching triple the daily average of around 5.5 million shares traded. The company is being hit hard by yesterday’s announcement from Starbucks Inc. (NASDAQ: SBUX) that it will launch a single-cup espresso and coffee machine to compete with the Keurig products from Green Mountain. More coverage here.

Zogenix is down nearly -14% at $2.15. Volume is already more than double the daily average of around 555,000 shares traded. The drug maker posted a wider than expected loss after the markets closed yesterday.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ASTM, GMCR, JVA, QSFT, ZGNX