24/7 Wall St. » KFY

24/7 Wall St. Closing Bell — September 6, 2012: Markets Strong on ECB Bond-Buying Plan (NOK, BCS, ATVI, MWW, STI, FCEL, HWD, KFY, LAYN, MFRM, SWHC, CMVT, KR, LULU, OCZ, NAV, PAY)

Paul Ausick — Thu, 06 Sep 2012 20:07:01 +0000

The three major U.S. stock indexes opened higher this morning as expectations had been raised that the European Central Bank would institute some kind of bond-buying program to shore up the Eurozone’s crippled economy. Data on US employment and new claims for unemployment benefits came in better than expected, but didn’t have much impact on equities before the market opened. The ECB’s decision to go ahead with the bond purchases really drove equity prices higher this morning, and kept them well higher all day. If tomorrow’s non-farm payrolls report beats expectations of around 125,000 new jobs added, equities could take off again.

The U.S. dollar index is lower today, now down 0.21% at 81.062. The GSCI commodity index is down 0.5% today at 668.72, with commodities prices mostly higher and corn remaining below $8.00/bushel. WTI crude oil closed up 0.2% today, at $95.53/barrel. Brent crude trades up 0.46% at $113.61/barrel. Natural gas is down 0.8% today to $2.772/thousand cubic feet. Gold closed at $1,705.60/ounce, up 0.7% today, the yellow metal’s highest settlement price since March.

The unofficial closing bells put the DJIA up more than 244 points to 13,291.93 (1.87%), the NASDAQ rose nearly 67 points (2.17%) to 3,185.31, and the S&P 500 rose 2.04% or nearly 29 points to 1,432.11.

There were several analyst upgrades and downgrades today, including Nokia Corp. (NYSE: NOK) cut to ‘sell’ at Deutsche Bank, SocGen, and S&P Equity Research; Barlcays PLC (NYSE: BCS) cut to ‘neutral’ at Credit Suisse; Activision Blizzard Inc. (NASDAQ: ATVI) raised to ‘overweight’ at Piper Jaffray; Monster Worldwide Inc. (NYSE: MWW) raised to ‘outperform’ at Zacks; and SunTrust Banks Inc. (NYSE: STI) raised to ‘overweight’ at JPMorgan.

Some companies that reported earnings since markets closed last night and have recent share price changes today include FuelCell Energy Inc. (NASDAQ: FCEL) is down 11.4% at $0.89; Harry Winston Diamond Corp. (NYSE: HWD) is up 5.5% at $12.91; Korn/Ferry International (NYSE: KFY) is down 6.6% at $14.27; and Layne Christensen Co. (NASDAQ: LAYN) is down 5% at $18.05.

Earnings releases scheduled before markets open on Friday morning include Mattress Firm Holding Co. (NASDAQ: MFRM), Smith & Wesson Holding Corp. (NASDAQ: SWHC), Comverse Technology Inc. (NASDAQ: CMVT), Kroger Co. (NYSE: KR), and Lululemon Athletica Inc. (NASDAQ: LULU).

Some standouts from today include the following stocks:

OCZ Technology Group Inc. (NASDAQ: OCZ) is down 20.5% at $4.26 after posting a new 52-week low of $3.86 earlier today. The solid state hard drive maker will miss quarterly revenue targets as a result of chip shortage. More coverage here.

Navistar International Corp. (NYSE: NAV) is up 17.7% at $24.03. The truck and engine maker reported better-than-expected EPS and revenues this morning. More coverage here.

Verifone Systems Inc. (NYSE: PAY) is down 13.4% at $30.63. The electronic payment provider reported lousy earnings after markets closed last night. More coverage here.

Amazon.com Inc. (NASDAQ: AMZN) is up 1.9% at $250.93 after posting a new all-time high of $252.69 earlier today. The ecommerce giant introduced new models of its Kindle and Kindle Fire tablets today, and benefited from a court settlement involving several publishers. More coverage here.

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

8:30 a.m. – Non-farm payroll report
3:00 p.m. – Treasury STRIPS

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ATVI, BCS, CMVT, FCEL, HWD, KFY, KR, LAYN, LULU, MFRM, MWW, NAV, NOK, OCZ, PAY, STI, SWHC

24/7 Wall St. Closing Bell — September 5, 2012: Markets on Hold for ECB Announcement (FDX, FB, TWX, CHK, RIO, BLMN, FNSR, PBY, DG, FCEL, HWD, KFY, PAY, LAYN, NAV, NOK, BONT, FRAN)

Paul Ausick — Wed, 05 Sep 2012 20:06:07 +0000

The three major U.S. stock indexes opened flat to slightly lower again this morning even though word leaked out of the European Central Bank’s likely bond-buying scheme (our coverage here). Official word on any action the ECB may take is due tomorrow and will undoubtedly have a marked effect on equities and commodities, including gold. Data on Australian GDP and Chinese PMI sent Asian markets lower, while European markets were mixed. In the U.S., the mortgage applications report showed a slight drop compared with last week (our coverage here).

The U.S. dollar index is higher today, now down 0.11% at 81.224. The GSCI commodity index is down 0.3% today at 672.55, with commodities prices mostly lower and corn falling below $8.00/bushel again. WTI crude oil closed up 0.1% today, at $95.36/barrel. Brent crude trades down 0.78% at $113.29/barrel. Natural gas is down 2.1% today to $2.793/thousand cubic feet. Gold closed at $1,694.00/ounce, down 0.1% today.

The unofficial closing bells put the DJIA up more than 11 points to 13,047.55 (0.09%), the NASDAQ fell nearly 6 points (0.19%) to 3,069.27, and the S&P 500 fell -0.11% or nearly 2 points to 1,403.43.

There were several analyst upgrades and downgrades today, including FedEx Corp. (NYSE: FDX) cut to ‘market perform’ at Wells Fargo (more coverage here); Facebook Inc. (NASDAQ: FB) started as ‘buy’ at Jefferies; Time Warner Inc. (NYSE: TWX) raised to ‘buy’ at UBS; Chesapeake Energy Corp. (NYSE: CHK) started as ‘equalweight’ at Barclays; and Rio Tinto PLC (NYSE: RIO) started as ‘outperform’ at Bernstein.

Some companies that reported earnings since markets closed last night and have recent share price changes today include Bloomin’ Brands Inc. (NASDAQ: BLMN) is up 3.4% at $13.91 after posting a new post-IPO high of $14.42 earlier today; Finisar Corp. (NASDAQ: FNSR) is up 1.3% at $13.70; Pep Boys – Manny, Moe & Jack (NYSE: PBY) is up 7.9% at $9.70; and Dollar General Corp. (NYSE: DG) is up 0.9% at $51.10 (more coverage here).

Earnings releases scheduled before markets open on Thursday morning include FuelCell Energy Inc. (NASDAQ: FCEL), Harry Winston Diamond Corp. (NYSE: HWD), Korn/Ferry International (NYSE: KFY), Verifone Systems Inc. (NYSE: PAY), Layne Christensen Co. (NASDAQ: LAYN), and Navistar International Corp. (NYSE: NAV).

Some standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is down 15.9% at $2.38. The mobile phone maker introduced new products today with no pricing or shipping information. More coverage here.

Bon-Ton Stores Inc. (NASDAQ: BONT) is up 27.6% at $12.38 after posting a new 52-week high of $12.72 earlier today. The retailer got an analyst upgrade today and a revised turnaround plan from the recently hired CEO.

Francesca’s Holdings Corp. (NASDAQ: FRAN) is down 17.2% at $29.88. The fast-fashion retailer reported good earnings after markets closed last night, but the CEO also announced his intention to retire.

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

7:00 a.m. – Challenger job-cut report
8:15 a.m. – ADP employment report
8:30 a.m. – New claims for unemployment benefits
10:00 a.m. – Institute for Supply Management non-manufacturing index
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – EIA weekly petroleum status report
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: BLMN, BONT, CHK, DG, FB, FCEL, FDX, FNSR, FRAN, HWD, KFY, LAYN, NAV, NOK, PAY, PBY, RIO, TWX

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 12, 2012 (AAPL, HFC, LULU, BA, BX, KORS, FSNR, FDS, GAME, COOL, KFY, LUB, ZNGA, AONE, FSLR)

Paul Ausick — Tue, 12 Jun 2012 20:04:46 +0000

The three major US stock indexes opened higher this morning as despite weak data from the UK and higher debt yields on Eurozone sovereign debt. Spanish 10-year bonds rose to a record yield of 6.8% (our coverage here), and Italian bond yields also rose to 5.52%. The news that the US budget deficit grew to $125 billion was in-line with expectations, and actually gave the markets a little boost going into the last 90 minutes of trading.

The US dollar index fell slightly today, now down -0.08% at 82.451. The GSCI commodity index is down -0.09% at 582.43, with commodities prices mostly lower today. WTI crude oil closed up 0.8% at $83.32/barrel. Brent crude trades down -0.68% at $97.33/barrel. Natural gas rose about 0.5% today to $2.23/thousand cubic feet. Gold settled up 1.1% today, at $1,613.80/ounce.

The unofficial closing bells put the DJIA up more than 162 points to 12,573.80 (1.31%), the NASDAQ rose more than 33 points (1.19%) to 2,843.07, and the S&P 500 rose 1.17% or more than 15 points to 1,234.18.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘outperform’ with a $675 target price at FBR and maintained as ‘buy’ with an $800 target price at Cannacord Genuity; HollyFrontier Corp. (NYSE: HFC) raised to ‘buy’ with a $40 target price at Argus; Lululemon Athletica Inc. (NASDAQ: LULU) maintained as ‘hold’ at Argus; Boeing Co. (NYSE: BA) raised to ‘outperform’ at Bernstein; and The Blackstone Group LP (NYSE: BX) raised to ‘overweight’ at Barclays.

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: Michael Kors Holdings Ltd. (NYSE: KORS) is up 7% at $40.86; Finisar Corp. (NASDAQ: FNSR) is up 3.8% at $13.99; FactSet Research Systems Inc. (NYSE: FDS) is down -12% at $92.04; Shanda Games Ltd. (NASDAQ: GAME) is up 1.7% at $4.12; and Majesco Entertainment Co. (NASDAQ: COOL) is up 1.1% at $1.91.

Tomorrow we are scheduled to have earnings from Korn/Ferry International (NYSE: KFY) and Luby’s Inc. (NYSE: LUB).

Other standouts from today include the following stocks:

Zynga Inc. (NASDAQ: ZNGA) is down -10.3% at $4.98 after posting a new post-IPO low of $4.78 earlier today. The social network game maker got a negative call from an analyst at Cowen today. More coverage here.

A123 Systems Inc. (NASDAQ: AONE) is up 48.1% at $1.54. The battery maker announced a new battery technology today. More coverage here.

First Solar Inc. (NASDAQ: FSLR) is up 20.3% at $14.83. The solar panel maker will keep its German factory open through the end of this year. More coverage here.

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

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Producer price index
8:30 a.m. – Retail sales from the US Census Bureau
10:00 a.m. – Business inventories
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 10-year note auction

Paul Ausick

Filed under: General Tagged: AAPL, AONE, BA, BX, COOL, FDS, FSLR, FSNR, GAME, HFC, KFY, KORS, LUB, LULU, ZNGA

24/7 Wall St. Closing Bell — June 8, 2012 (CSCO, SD, QCOM, KMI, LEN, XIDE, PNY, FGP, KMGB, FNSR, KORS, FDS, KFY, KR, PIR, WGO, PCX, ANR, NOK, NAV, CHK)

Paul Ausick — Fri, 08 Jun 2012 20:11:33 +0000

The three major US stock indexes opened lower this morning as investors wait for weekend data on Chinese trade and industrial production. The drop in US unemployment benefits claims didn’t spur much buying, nor did news of the smaller US trade deficit in April. Trading volume has been light today, with just 400 million shares trading hands on the NYSE. Going into the last hour of trading the DJIA is up about 0.5%, the Nasdaq is up about 0.6%, and the S&P 500 is up about 0.8%, and all finished the day higher by less than 1%.

The US dollar index rose today, now up 0.55% at 82.506. The GSCI commodity index is fractionally at 592.05, with commodities prices mostly lower today on the stronger dollar. WTI crude oil closed down -0.9%% at $84.10/barrel. Brent crude trades down -0.24% at $99.69/barrel. Natural gas rose about 1.1% today to $2.299/thousand cubic feet. Gold settled up 0.2% today, at $1,591.40/ounce, but took a weekly loss of about -2%.

The unofficial closing bells put the DJIA up about 93 points to 12,553.97(0.75%), the NASDAQ rose more than 27 points (0.97%) to 2,858.42, and the S&P 500 rose 0.81% or nearly 11 points to 1,325.63.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) started as ‘buy’ at Citigroup; SandRidge Energy Inc. (NYSE: SD) started as ‘outperform’ at RBC Capital; Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ with a target price of $80 at Argus; Kinder Morgan Inc. (NYSE: KMI) raised to ‘overweight’ at Morgan Stanley; and Lennar Corp. (NYSE: LEN) cut from ‘neutral’ to ‘sell’ at Citigroup.

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: Exide Technologies (NASDAQ: XIDE) is up 16.3% at $2.85; Piedmont Natural Gas Co. Inc. (NYSE: PNY) is up 0.3% at $31.71; Ferrellgas Partners LP (NYSE: FGP) is up 6.9% at $17.25; and KMG Chemicals Inc. (NASDAQ: KMGB) is down -2% at $16.91.

As we approach the quarter’s end there are fewer and fewer notable earnings reports scheduled. Next week we are scheduled to get earnings reports from Finisar Corp. (NASDAQ: FNSR), Michael Kors Holdings Ltd. (NYSE: KORS), FactSet Research Systems Inc. (NYSE: FDS), Korn/Ferry International (NYSE: KFY), Kroger Co. (NYSE: KR), Pier 1 Imports Inc. (NYSE: PIR), and Winnebago Industries Inc. (NYSE: WGO).

Other standouts from today include the following stocks:

Patriot Coal Corp. (NYSE: PCX) is down -9.5% at $1.68. The coal miner took the biggest share price hit today following news that Alpha Natural Resources Inc. (NYSE: ANR) is closing some mines. More coverage here.

Nokia Corp. (NYSE: NOK) is up 5.7% at $2.99. The Finnish handset company was rumored to be the target of a possible takeover by Samsung Electronics. More coverage here.

Navistar International Inc. (NYSE: NAV) is up 16.6% at $28.10. The commercial truck and engine maker got a boost from an increased investment by Carl Icahn, who now owns 12% of the company.

Chesapeake Energy Corp. (NYSE: CHK) is 2.7% at $18.33. The natural gas producer sold $4 billion in assets today (coverage here) and stockholders rejected two current directors by a wide margin at today’s shareholders’ meeting (more coverage here).

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

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

Have a great weekend!

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: ANR, CHK, CSCO, FDS, FGP, FNSR, KFY, KMGB, KMI, KORS, KR, LEN, NAV, NOK, PCX, PIR, PNY, QCOM, SD, WGO, XIDE

24/7 Wall St. Closing Bell (AAPL, ARMH, QCOM, ZNGA, HALO, CWTR, FTK, HOTT, KFY, AONE, ACHN, FSYS, JKS, NAV, NGSX, SFD, SMRT, STP, VRS, STLY, MWA, SSH, ZLTQ)

Paul Ausick — Thu, 08 Mar 2012 21:05:38 +0000

The three major US equities indexes opened higher this morning on the news from Europe that the Greek debt swap deal would be a success. That prediction turned out to be solid, as about 80% of Greek bondholders agreed to the swap, taking pressure of the Greeks at least for the time being. The US new jobless claims number came in a bit higher than expected this morning, but traders hardly noticed. Tomorrow’s non-farm payrolls report is the one everyone’s waiting for, with a consensus estimate of 210,000 new jobs. The dollar opened weaker today, and has continued to trickle down with the dollar index down -0.74% at 79.123. Crude oil was higher today, with WTI crude settling up 0.4% at $106.58/barrel and Brent crude up 1.17% at $125.57/barrel. Gold settled higher by 0.9% at $1,698.70/ounce.

The unofficial closing bells put the DJIA up more than 70 points to 12,907.87 (0.55%), the NASDAQ rose more than 34 points (1.18%) to 2,970.42, and the S&P 500 rose 0.98% or more than 13 points to 1,365.91.

There were several analyst upgrades and downgrades today, including Apple Inc. (NASDAQ: AAPL) reiterated as ‘buy’ with target price raised from $600 to $660 at Goldman Sachs; ARM Holdings PLC (NASDAQ: ARMH) raised to ‘overweight’ at Morgan Stanley; Qualcomm Inc. (NASDAQ: QCOM) reiterated as ‘buy’ with a $72 target price at Argus; Zynga Inc. (NASDAQ: ZNGA) started as ‘hold’ at Canaccord Genuity; and Halozyme Therapeutics Inc. (NASDAQ: HALO) started as ‘overweight’ at Barclays.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Coldwater Creek Inc. (NASDAQ: CWTR) is up 0.9% at $1.02; Flotek Industries Inc. (NYSE: FTK) is up 9.7% at $12.11; Hot Topic Inc. (NASDAQ: HOTT) is up 13.4% at $9.97 after posting a new 52-week high of $10.11; Korn/Ferry International (NYSE: KFY) is up 0.3% at $15.33; A123 Systems Inc. (NASDAQ: AONE) is down -2.5% at $1.56; Achillion Pharmaceuticals Inc. (NASDAQ: ACHN) is up 5.2% at $10.76; Fuel Systems Solutions Inc. (NASDAQ: FSYS) is down -2.2% at $25.74; JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down -6.9% at $5.54 (more coverage here); Navistar International Corp. (NYSE: NAV) is down -2% at $39.25 (more coverage here); NeurogesX Inc. (NASDAQ: NGSX) is down -20% at $0.53 (more coverage here); Smithfield Foods Inc. (NYSE: SFD) is down -2.2% at $22.31 (more coverage here); Stein Mart Inc. (NASDAQ: SMRT) is down -8.6% at $6.38 (more coverage here); and Suntech Power Holdings Co. Ltd. (NYSE: STP) is down -1.4% at $2.89.

Other standouts from today include the following stocks:

Verso Paper Corp. (NYSE: VRS) is up 77% at $2.16. The paper maker will issue new debt of $345 in senior secured notes and has issued a tender offer for $315 million in 11.5% senior unsecured notes outstanding.

Stanley Furniture Co. Inc. (NASDAQ: STLY) is up about 20% at $4.29. The wood furniture maker has announced that it expects to receive a payment of about $40 million as a result of an anti-dumping ruling against Chinese furniture makers.

Mueller Water Products (NYSE: MWA) is up more than 21% at $3.46. The maker of water transmission, distribution, and measurement products is selling its pipe and foundry business for about $100 million in cash and other considerations. More coverage here.

Sunshine Heart Inc. (NASDAQ: SSH) is down more than -8% at $11.00. The medical device maker came public on February 16th, and is nearing the dreaded busted IPO line.

Zeltiq Aesthetics Inc. (NASDAQ: ZLTQ) is down more than -13% at $5.65 after posting a new 52-week low of $5.60 earlier. The medical technology company posted a dismal fourth-quarter earnings report earlier this week and has just set its second record-low of the week as well.

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

8:30 a.m. – Non-farm employment report
8:30 a.m. – International trade report
10.00 a.m. – Wholesale trade report

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: AAPL, ACHN, AONE, ARMH, CWTR, FSYS, FTK, HALO, HOTT, JKS, KFY, MWA, NAV, NGSX, QCOM, SFD, SMRT, SSH, STLY, STP, VRS, ZLTQ, ZNGA

24/7 Wall St. Closing Bell (CSCO, DO, LVS, LULU, PM, SLB, CIEN, COST, SFD, LAYN, KFY, DMAN, AFFY, DANG, IVC, PNCL, TSLA)

Paul Ausick — Thu, 08 Dec 2011 21:08:15 +0000

Stocks opened lower this morning and trailed mostly lower throughout the day. Today’s wholesale inventory reported showed a gain of 1.6% and the initial jobless claims were substantially lower than expectations of 395,000, at 381,000. The two reports probably cancelled each other out as word hit the street that Europe is forecasting weaker growth and that today’s expected interest rate reduction was agreed with less than a unanimous vote by the ECB. The stress test results for European banks were released today, causing shares in some European banks to fall. WTI crude has fallen by more than $2 to $98.33/barrel and Brent crude is also down by about $1.65 at $107.86. Gold is down nearly -2%, at $1,710.40.

The unofficial closing bells put the DJIA down more than 198 points to 11,997.93 (-1.63%), the NASDAQ fell nearly 53 points (-1.99%) to 2,596.38, and the S&P 500 fell -2.11% or nearly 27 points to 1,234.35.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) reiterated as ‘buy’ with a price target of $24 at Argus. Other ratings actions today include Diamond Offshore Drilling Inc. (NYSE: DO) started as ‘sell’ with a target price of $70 at Goldman Sachs; Las Vegas Sands Corp. (NYSE: LVS) cut to ‘neutral’ at Janney; Lululemon Athletica Inc. (NASDAQ: LULU) restarted as ‘buy’ at Sterne Agee; Philip Morris International, Inc. (NYSE: PM) cut from ‘buy’ to ‘neutral’ at Nomura; and Schlumberger Ltd. (NYSE: SLB) started as ‘neutral’ at Goldman Sachs.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Ciena Corp. (NASDAQ: CIEN) is up 2.7% at $12.23; Costco Wholesale Corp. (NASDAQ: COST) is down -1.3% at $86.33; Smithfield Foods, Inc. (NYSE: SFD) is down -2.6% at $24.29; Layne Christensen Co. (NASDAQ: LAYN) is down -4.1% at $23.61; and Korn/Ferry International (NYSE: KFY) is down -8% at $15.77.

Other standouts from today include the following shares:

DemandTec, Inc. (NASDAQ: DMAN) is up nearly 56% at $13.15. The cloud-software company has accepted a takeover bid from IBM Corp. (NYSE: IBM) of $13.50/share, a 57% premium over yesterday’s closing price.

Affymax, Inc. (NASDAQ: AFFY) is up more than 38% at $8.10. The US FDA has approved the company’s anemia drug for dialysis patients suffering from chronic kidney failure.

E-Commerce China Dangdang Inc. (NYSE: DANG) is up nearly 24% at $5.76. The Chinese e-commerce company has announced that it will issue an e-reader later this month and split content revenue with producers, keeping 40% for itself.

Invacare Corp. (NYSE: IVC) is down more than -25% at $15.39, after posting a new 52-week low earlier today. The medical supplies maker is in danger of having the US FDA close down some of its operations because Invacare has failed to comply with quality standards.

Pinnacle Airlines Corp. (NASDAQ: PNCL) is down about -23% at $1.47, after posting a new 52-week low of $1.40 earlier today. The regional airlines has initiated a program to cut costs and raise liquidity.

Tesla Motors Inc. (NASDAQ: TSLA) is down nearly -3.5% at $30.75. The electric car maker’s stock was downgraded by Morgan Stanley from ‘overweight’ to ‘underweight’ and the target price was slashed from $70 to $44.

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

8:30 a.m. – International trade report for October
9:55 a.m. – Reuters/University of Michigan consumer sentiment report

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: AFFY, CIEN, COST, CSCO, DANG, DMAN, DO, IVC, KFY, LAYN, LULU, LVS, PM, PNCL, SFD, SLB, TSLA

Sudden Excitement in Jobs & Staffing Companies (PAYX, ADP, MWW, MAN, CTAS, KFY)

Jon C. Ogg — Fri, 03 Sep 2010 13:53:00 +0000

After a long period of unemployment, any upside to the jobs numbers at any point offers a helping hand to the stocks of companies that revolve around the jobs market. That is payroll services, online job search destinations, career management, uniform makers, and even head hunters. So it is no surprise that we are seeing a move higher in stocks such as Paychex Inc. (NASDAQ: PAYX), Automatic Data Processing, Inc. (NYSE: ADP), Monster Worldwide, Inc. (NYSE: MWW), Manpower Inc. (NYSE: MAN), Cintas Corporation (NASDAQ: CTAS), and even in Korn/Ferry International (NYSE: KFY).

Paychex Inc. (NASDAQ: PAYX), a payroll services company, is up 1.7% at $26.45 versus a 52-week range of $24.65 to $32.88.

Automatic Data Processing, Inc. (NYSE: ADP), another payroll services company, is up 1.55% at $40.31 versus a 52-week range of $26.46 to $45.74.

Monster Worldwide, Inc. (NYSE: MWW), the top online destination for those looking for jobs, is up a sharp 5.77% at $12.19 versus a 52-week range of $10.01 to $19.28.

Manpower Inc. (NYSE: MAN), a key recruiting and labor outsource firm, is up 2.7% at $48.09 versus a 52-week range of $39.94 to $63.00.

Cintas Corporation (NASDAQ: CTAS), which is the go-to name for uniforms and other corporate employee services, is trading up 1.8% at $27.15 versus a 52-week range of $23.10 to $30.85.

Korn/Ferry International (NYSE: KFY), an executive recruiting firm, a.k.a. head-hunter, is up 2.8% at $14.74 versus a 52-week range of $12.57 to $18.62.

What is interesting here about this sector is that there is generally an improving environment for companies like these. There is high demand for good temporary workers and this creates more demand for these services. The stocks have also underperformed the broad market and many of these are still very close to 52-week lows.

JON C. OGG

Filed under: Business Services, Economy, Labor, Labor & Unions, Services Tagged: ADP,, CTAS, KFY, MAN, MWW, PAYX

The 52-Week Low Club

Douglas A. McIntyre — Thu, 20 Sep 2007 15:06:14 +0000

Circuit City (CC) Poor earnings and almost certainly more to come. Down to $8.46 from 52-week high of $29.31.

Enterra Energy (ENT) Still falling after cutting dividend. Drops to $1.33 from 52-week high of $10.30.

Time Warner Cable (TWC) Cable companies under pressure because of competition from big telecommunications companies. Down to $31.96 from 52-week high of $44.

Korn Ferry (KFY) Head hunting business must be particularly rough. Drops to $16.68 from 52-week high of $27.13.

ACI Worldwide (ACIW) Providesr of software for electronic payment systems cuts guidance. Falls to $20.65 from 52-week high of $38.72.

Douglas A. McIntyre

The 52-Week Low Club

Douglas A. McIntyre — Tue, 11 Sep 2007 15:47:50 +0000

King Pharmaceuticals (KG) One of the company’s patents found to be invalid. Down to $12.59 from 52-week high of $22.25.

Korn Ferry (KFY) Earnings and employment outlook not doing executive search firm any good. Down to $17.45 from 52-week high of $27.13.

New York Times Company (NYT) Stock get bad rating from Banc of America. Down to $20.21 from 52-week high of $26.90.

Applied Digital Solutions (ADSX) Majority holder of VeriChip (CHIP) who implantable chip technology creates cancer in animals. Down to $.88 from 52-week high of $2.82.

Smart Modular Technologies (SMOD) Chip maker offered disappointing preliminary fiscal fourth-quarter and 2007 results. Down to $6.86 from 52-week high of $15.89.

Active Power (ACPW) Power transport solutions shares just keep sliding. Down to $1.28 from $2.94.

Himax Technologies (HIMX) CFO of Taiwanese semiconductor-company named in class action suits. Drops to $3.53 from 52-week high of $7.10.

Douglas A. McIntyre