24/7 Wall St. Closing Bell (T, AMZN, NOK, GOOG, CMG, FAST, RAD, MSW, CBSH, JBHT, CHKE, JPM, WFC, OAK, MIPS, EGO, AVID)

Paul Ausick — Thu, 12 Apr 2012 20:05:52 +0000

Markets opened slightly higher this morning and about an hour before the markets close all three major indexes are more than 1% higher. The report on new unemployment claims was weaker than expected (our coverage here), but better news from Europe, especially lower Italian bond yields, gave the market a lift. There is also some expectation that China’s GDP report tonight will be strong, indicating that the world’s second-largest economy is still growing. The US dollar index fell today, now down -0.64% at 79.288. The GSCI commodity index is up about 0.7% at 679.53, with virtually all commodities higher on the lower greenback. WTI crude oil closed up 0.9% at $103.64/barrel, and Brent crude trades up 1.22% at $121.65/barrel. Gold settled up 1.2% today, at $1,680.60/ounce.

The unofficial closing bells put the DJIA up more than 181 points to 12,986.43 (1.41%), the NASDAQ rose more than 39 points (1.3%) to 3,055.55, and the S&P 500 rose 1.38% or nearly 19 points to 1,387.57.

There were several analyst upgrades and downgrades today, including AT&T Inc. (NYSE: T) raised to ‘overweight’ at JPMorgan; Amazon.com Inc. (NASDAQ: AMZN) started as ‘neutral’ at SunTrust Robinson Humphreys; Nokia Corp. (NYSE: NOK) cut to ‘hold’ at SocGen; Google Inc. (NASDAQ: GOOG) started as ‘buy’ at SunTrust Robinson Humphreys; and Chipotle Mexican Grill Inc. (NYSE: CMG) reiterated as ‘buy’ and target price raised to $480 at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Fastenal Corp. (NASDAQ: FAST) is down -1.8% at $48.73; Rite Aid Corp. (NYSE: RAD) is up 0.03% at $1.71; Mission West Properties Inc. (NASDAQ: MSW) is down -0.06% at $9.55; and Commerce Bancshares Inc. (NASDAQ: CBSH) is up 2.2% at $40.00. After the markets close today we will hear from Google (earnings preview here), J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), and Cherokee Inc. (NASDAQ: CHKE) among others. Before the markets open tomorrow morning we get earnings from JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) (more coverage here).

Other standouts from today include the following stocks:

Oaktree Capital Group LLC (NYSE: OAK) is down about -1.3% at $42.43. The investment management firm held its IPO today. More coverage here.

MIPS Technologies Inc. (NASDAQ: MIPS) is up about 27.5% at $6.64. The chip maker is reportedly seeking a buyer. More coverage here.

Eldorado Gold Corp. (NYSE: EGO) is up about 12.5% at $14.45. The junior gold miner announced plans to double production in five years.

Avid Technology Inc. (NASDAQ: AVID) is down more than -17% at $8.51. The media tools company announced that it would have an operating loss in the first quarter.

Stay tuned for Friday. New York Fed President William Dudley and Federal Reserve chairman Ben Bernanke are giving speeches. We have noted the following events on the schedule (all times Eastern):

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

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: AMZN, AVID, CBSH, CHKE, CMG, EGO, FAST, GOOG, JBHT, JPM, MIPS, MSW, NOK, OAK, RAD, T, WFC

24/7 Wall St. Closing Bell (JCP, AMSC, EGO, NVDA, M, HCSG, PGR, ADTN, MSW, FAST, RAD, MFRM, TITN, DVR, NOK)

Paul Ausick — Wed, 11 Apr 2012 20:03:36 +0000

Markets opened higher this morning following the pleasant surprise earnings report from Alcoa Inc. (NYSE: AA) after markets closed yesterday (our coverage here). The report on US crude oil inventories showed a relatively modest gain this week, boosting crude prices (our coverage here). Based on better expectations for quarterly earnings and mildly better news on the global economy, investors took on more risk today, driving up Treasury yields in the bargain. The US dollar index fell slightly today, now down -0.09% at 79.788. The GSCI commodity index is down about -1.5% at 674.42, with orange juice again leading the decliners. WTI crude oil closed up 1.7% at $102.70/barrel, and Brent crude trades up 0.12% at $120.02/barrel. Gold settled down just -$0.40 today, at $1,660.30/ounce.

The unofficial closing bells put the DJIA up more than 90 points to 12,806.15 (0.71%), the NASDAQ rose more than 25 points (0.84%) to 3,016.46, and the S&P 500 rose 0.75% or more than 10 points to 1,368.79.

There were several analyst upgrades and downgrades today, including J.C. Penney & Co. (NYSE: JCP) started as ‘neutral’ at UBS; American Superconductor Corp. (NASDAQ: AMSC) started as ‘buy’ at Maxim Group; Eldorado Gold Corp. (NYSE: EGO) raised to ‘buy’ at Canaccord Genuity; Nvidia Corp. (NASDAQ: NVDA) started as ‘outperform’ at RBC; and Macy’s Inc. (NYSE: M) started as ‘neutral’ at UBS.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Alcoa is up 6.2% at $9.90; Health Care Services Group Inc. (NASDAQ: HCSG) is up 7.2% at $21.47; Progressive Corp. (NYSE: PGR) is down -0.6% at $22.61; and Adtran Inc. (NASDAQ: ADTN) is up 7.5% at $30.61. After the markets close today we will hear from Mission West Properties Inc. (NASDAQ: MSW) among others. Before the markets open tomorrow morning we get earnings from Fastenal Corp. (NASDAQ: FAST) and Rite Aid Corp. (NYSE: RAD).

Other standouts from today include the following stocks:

Mattress Firm Holding Co. (NASDAQ: MFRM) is up more than 17% at $43.89 after posting a new 52-week high of $45.42 earlier today. The retailing company posted good earnings and announced an acquisition. More coverage here.

Titan Machinery Inc. (NASDAQ: TITN) is up more than 17% at $32.20 after posting a new 52-week high of $33.35. The farm machinery company shattered earnings expectations.

Cal Div International Inc. (NYSE: DVR) is up more than 13% at 3.71. The offshore oil field services firm has announced that it will be a 40% partner in the Cape Wind project offshore of Massachusetts.

Nokia Corp. (NYSE: NOK) is down more than -16% at $4.21, a new 52-week low. The cell phone maker warned on earnings this morning and is fixing a glitch in its new Lumia 900 phone. Even more coverage here.

Stay tuned for Wednesday. New York Fed President William Dudley, Philadelphia Fed President Charles Plosser, Minneapolis Fed President Naryana Kocherlakota, and Federal Reserve governor Sarah Bloom Raskin are all giving speeches. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – International trade statistics
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Producer price index
10.30 a.m. – EIA weekly natural gas storage report
1:00 p.m. – 30-year bond auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: ADTN, AMSC, DVR, EGO, FAST, HCSG, JCP, M, MFRM, MSW, NOK, NVDA, PGR, RAD, TITN

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24/7 Wall St. Closing Bell (T, AMZN, NOK, GOOG, CMG, FAST, RAD, MSW, CBSH, JBHT, CHKE, JPM, WFC, OAK, MIPS, EGO, AVID)

24/7 Wall St. Closing Bell (JCP, AMSC, EGO, NVDA, M, HCSG, PGR, ADTN, MSW, FAST, RAD, MFRM, TITN, DVR, NOK)