24/7 Wall St. » SI

24/7 Wall St. Closing Bell — May 25, 2012 (EBAY, LULU, SI, CRM, FSLR, CRMT, MENT, POST, FRO, AMSC, DRYS, KUTV, SAFM, SHIP, GAME, TLB, PAY, FB)

Paul Ausick — Fri, 25 May 2012 18:04:01 +0000

Today’s edition of the Closing Bell is being published shortly after 2:00 p.m. US markets are closed Monday to observe the Memorial Day holiday. We’ll resume our normal schedule next Tuesday.

The three major US stock indexes opened marginally higher this morning as more European countries come out in support of a eurobond, a proposal Germany has flatly declined to discuss. The impasse weighed on European markets and the weight crossed the Atlantic when US markets opened today. The only new data point in the US today was better-than-expected reading on Reuters/University of Michigan consumer sentiment index (our coverage here). The US dollar index rose today, now up 0.07% at 82.406. The GSCI commodity index is up fractionally at 618.78, with commodities prices mixed. WTI crude oil is trading up 0.12% at $90.77/barrel, and Brent crude trades up 0.31% at $106.88/barrel. Natural gas fell -4.4% today to $2.53/thousand cubic feet. Gold is trading up 0.52% today, at $1,567.90/ounce.

At 2:00 p.m. ET, the DJIA is down about 45 points at 12,484.68 (-0.36%), the NASDAQ is up more than 3 points (0.12%) at 2,842.72, and the S&P 500 is down -0.02% or less than 1 point at 1,320.43.

There were several analyst upgrades and downgrades today, including Ebay Inc. (NASDAQ: EBAY) maintained as ‘buy’ with a target price of $44 at BofA/ML; Lululemon Athletica (NASDAQ: LULU) cut to ‘hold’ at KeyBanc; Siemens AG (NYSE: SI) raised to ‘buy’ at Deutsche Bank; Salesforce.com (NYSE: CRM) raised to ‘outperform’ at Oppenheimer; and First Solar Inc. (NASDAQ: FSLR) maintained as ‘buy’ with a target price of $30 at BofA/ML.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: America’s Car-Mart Inc. (NASDAQ: CRMT) is down -7.8% at $41.52; Mentor Graphics Inc. (NASDAQ: MENT) is down -12.7% at $13.28; Post Holdings Inc. (NYSE: POST) is up 6.8% at $29.89; and Frontline Ltd. (NYSE: FRO) is up 8.8% at $5.42.

On Tuesday, we are scheduled to get earnings reports from American Superconductor Corp. (NASDAQ: AMSC), DryShips Inc. (NASDAQ: DRYS), Ku6 Media Co. Ltd. (NASDAQ: KUTV), Sanderson Farms Inc. (NASDAQ: SAFM), Seanergy Maritime Holdings Group Corp. (NASDAQ: SHIP), and Shanda Games Ltd. (NASDAQ: GAME).

We’ve also reviewed this week some potential value stocks among major oil companies, gold & silver miners, conglomerates, industrials, retail, semiconductor, and solar stocks.

Other standouts from today include the following stocks:

The Talbots Inc. (NYSE: TLB) is down -38.9% at $1.57. The clothing retailer failed to reach a deal with a potential private equity buyer.

Verifone Systems Inc. (NYSE: PAY) is down -15% at $38.27. The electronic payment systems company forecast a weaker-than-expected third quarter.

Facebook Inc. (NASDAQ: FB) is down -3.8% at $31.78. The social network company continues to seek a floor for its stock price.

Stay tuned for Tuesday. US markets are closed Monday to observe the Memorial Day holiday. We have also noted the following events on the schedule for Tuesday (all times Eastern):

9:00 a.m. – S&P Case-Schiller housing price index
10:00 a.m. – Conference Board consumer confidence survey
10:00 a.m. – State Street investor confidence index
10:30 a.m. – Dallas Fed manufacturing survey
11:30 a.m. – 3- and 6-month bill auction

Have a great long weekend.

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMSC, CRM, CRMT, DRYS, EBAY, FB, FRO, FSLR, GAME, KUTV, LULU, MENT, PAY, POST, SAFM, SHIP, SI, TLB

Top Analyst Upgrades & Downgrades (AFL, CRZO, EBAY, EJ, FSLR, HAIN, LULU, PCAR, RCI, CRM, SI, SRDX, SYMC)

Administrator — Fri, 25 May 2012 11:45:23 +0000

These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Friday. No analyst calls will be made on Monday in the United States as it is a market holiday in observance of Memorial Day.

Aflac Inc. (NYSE: AFL) Maintained Buy but cut target price down from $75 to $63 at Bank of America/Merrill Lynch.

Carrizo Oil & Gas Inc. (NASDAQ: CRZO) Reinstated as Neutral with $30 target at Credit Suisse.

eBay Inc. (NASDAQ: EBAY) Maintained Buy with $44 target at Bank of America/Merrill Lynch.

E-House China Holdings Limited (NYSE: EJ) Reinstated as Outperform at Credit Suisse.

First Solar, Inc. (NASDAQ: FSLR) Reiterated Buy with $30 target at Bank of America/Merrill Lynch.

The Hain Celestial Group, Inc. (NASDAQ: HAIN) Started as Buy at SunTrust Robinson Humphreys.

Lululemon Athletica (NASDAQ: LULU) Cut to Hold at KeyBanc.

PACCAR (NASDAQ: PCAR) named as Value stock of the day at Zacks.

Rogers Communications (NYSE: RCI) named Bear of the Day at Zacks.

Salesforce.com (NYSE: CRM) Raised to Outperform at Oppenheimer.

Siemens AG (NYSE: SI) Raised to Buy at Deutsche Bank.

SurModics, Inc. (NASDAQ: SRDX) named Bull of the Day at Zacks.

Symantec Corporation (NASDAQ: SYMC) Maintained Neutral with $20 target at Bank of America/Merrill Lynch.

Here were Thursday’s Five Highly Unusual Upgrades and Downgrades which really stood out or which moved stocks.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: AFL, CRM, CRZO, EBAY, EJ, FSLR, HAIN, LULU, PCAR, RCI, SI, SRDX, SYMC

24/7 Wall St. Closing Bell (CSCO, FSLR, SI, BRCM, AFFY, DFS, FDX, PIR, SCHL, WGO, SONO, NVLS, GEVO, ZOLL, BPAX, PEIX)

Paul Ausick — Thu, 15 Dec 2011 21:05:03 +0000

US markets opened fast this morning, up nearly 1% in the first hour of trading before giving most of the gain back by mid-morning and then wandering around a gain of less than 0.5% for the rest of the day. Better manufacturing data from Europe, and solid manufacturing gains in the US helped the market in the early going. The US dollar was down against the euro, the yen, and the British pound. Crude oil prices fell today, with WTI down more than -1.5% at $93.44/barrel and Brent down about -0.9% at $103.33. Gold continued its slide as well today, down more than -1% at $1,568.80/ounce.

The unofficial closing bells put the DJIA up nearly 47 points to 11,869.95 (0.39%), the NASDAQ rose nearly 2 points (0.07%) to 2,541.01, and the S&P 500 rose 0.33% or about 4 points to 1,215.83.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) started as ‘buy’ at Nomura. Other ratings actions today include First Solar Inc. (NASDAQ: FSLR) cut from ‘buy’ to ‘neutral’ at R.W. Baird; Siemens AG (NYSE: SI) cut from ‘buy’ to ‘neutral’ at Goldman Sachs; Broadcom Corp. (NASDAQ: BRCM) raised to ‘outperform’ at Wells Fargo; and Affymetrix Inc. (NASDAQ: AFFY) raised from ‘neutral’ to ‘buy’ at Goldman Sachs.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Discover Financial Services (NYSE: DFS) is down -3.2% at $23.06; FedEx Corp. (NYSE: FDX) is up almost 8% at $83.45; Pier 1 Imports, Inc. (NYSE: PIR) is up 0.23% at $13.17; Scholastic Corp. (NASDAQ: SCHL) is up more than 4% at $26.73; and Winnebago Industries, Inc. (NYSE: WGO) is down -0.15% at $6.80.

Other standouts from today include the following stocks:

SonoSite Inc. (NASDAQ: SONO) is up more than 27% at $53.68, a new 52-week high. The ultrasound device maker has been acquired by Japan’s Fujifilm Holdings Inc. for $54/share, or about $995 million. Our coverage is here.

Novellus Systems, Inc. (NASDAQ: NVLS) is up more than 17% at $40.68, after posting a new 52-week high of $42.50 earlier today. The semiconductor equipment maker is being acquired by Lam Research Corp. (NASDAQ: LRCX) for $3.3 billion in an all-stock deal. More coverage here.

Gevo Inc. (NASDAQ: GEVO) is up more than 13.5% at $6.41. The biofuel and chemical company signed an agreement with The Coca-Cola Co. (NYSE: KO) to develop a new bio-derived plastic bottle.

Zoll Medical Corp. (NASDAQ: ZOLL) is up more than 29% at $60.47, after posting a new 52-week high earlier today of $63.86. The medical device maker’s wearable defibrillator has been re-affirmed for Medicare coverage.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is down more than -77% at $0.48, after posting a new 52-week low of $0.46 earlier today. The biopharmaceutical company reported that its experimental drug to enhance libido in post-menopausal women failed a late-stage trial.

Pacific Ethanol Inc. (NASDAQ: PEIX) is down nearly -18% at $0.87. The ethanol maker announced the completion of a sale of about 12.6 million shares and warrants to 11 private investors for just over $8 million in cash.

Stay tuned for Friday. Chicago Federal Reserve Bank President Charles Evans and Dallas Federal Reserve Bank President Richard Fisher are speaking tomorrow. Here is another other noteworthy event on the schedule (all times Eastern):

8:30 a.m. – Consumer price index for November released

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AFFY, BPAX, BRCM, CSCO, DFS, FDX, FSLR, GEVO, NVLS, PEIX, PIR, SCHL, SI, SONO, WGO, ZOLL

Top Analyst Upgrades & Downgrades (AFFX, AMCX, BRCM, CSIQ, CSCO, DECK, DANG, ELN, EL, FSLR, IVR, IPG, JNPR, OMC, OVTI, ONXX, PTR, RENN, RVBD, SI, YOKU)

Administrator — Thu, 15 Dec 2011 13:28:50 +0000

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

Affymetrix Inc. (NASDAQ: AFFX) Raised to Neutral from Sell with a $4.50 price target at Goldman Sachs.
AMC Networks Inc. (NASDAQ: AMCX) Started as Overweight at J.P.Morgan.
Broadcom Corporation (NASDAQ: BRCM) Raised to Outperform at Wells Fargo.
Canadian Solar, Inc. (NASDAQ: CSIQ) named as Bear of the Day by Zacks Investment Research.
Cisco Systems, Inc. (NASDAQ: CSCO) Started as Buy at Nomura.
Deckers Outdoor Corporation (NASDAQ: DECK) Cut to Underperform from Buy at Stern Agee.
E-Commerce China Dangdang Inc. (NYSE: DANG) Started as Hold at Brean Murray.
Elan Corporation, plc (NYSE: ELN) Raised to Buy at Deutsche Bank.
Estee Lauder Companies (NASDAQ: EL) Raised to Outperform as Bull of the Day at Zacks.
First Solar, Inc. (NASDAQ: FSLR) Cut to Neutral from Buy at R.W. Baird.
Invesco Mortgage Capital Inc. (NYSE: IVR) Cut to Market Perform from Outperform at Keefe Bruyette & Woods.
The Interpublic Group of Companies, Inc. (NYSE: IPG) Started as Overweight at Barclays.
Juniper Networks, Inc. (NYSE: JNPR) Started as Neutral at Nomura.
Omnicom Group Inc. (NYSE: OMC) Started as Equal Weight at Barclays.
OmniVision Technologies (NASDAQ: OVTI) lowered estimates again but maintained as Buy with $12.00 price target at Canaccord Genuity.
Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) Raised to the Conviction Buy List with a $47.00 price target objective at Goldman Sachs.
PetroChina Co. Ltd. (NYSE: PTR) Raised to Buy from Neutral at Citigroup.
Renren Inc. (NYSE: RENN) Started as Hold at Brean Murray.
Riverbed Technology, Inc. (NASDAQ: RVBD) Started as Neutral at Nomura.
Siemens AG (NYSE: SI) Cut to Neutral from Buy at Goldman Sachs.
Youku.com Inc (NYSE: YOKU) Started as Hold at Brean Murray.

JON C. OGG

Filed under: Analyst Calls Tagged: AFFX, AMCX, BRCM, CSCO, CSIQ, DANG, DECK, EL, ELN, FSLR, IPG, IVR, JNPR, OMC, ONXX, OVTI, PTR, RENN, RVBD, SI, YOKU

European ADRs Surging on Global Central Bank Action (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI)

Administrator — Wed, 30 Nov 2011 14:03:50 +0000

The action out of China’s virtual easing by lowering reserve requirements was already a boost to global markets, but the coordinated central bank efforts of the U.S., Canada, Europe, Switzerland, and the U.K. to preserve global liquidity is creating a boom for stocks today at the expense of the U.S. dollar.

Alcatel-Lucent (NYSE: ALU) is up only 1.25% at $1.60 and shares are flat in local trading in Paris. Arcelor Mittal (NYSE: MT) is up 10% at $18.26 and BHP Billiton Ltd. (NYSE: BHP) is up 6.5% at $74.21.

Banco Santander, S.A. (NYSE: STD) is up 5.6% at $7.56 and the stock is up 4% in local trading in Madrid. The Bank of Ireland (NYSE: IRE) is now up 8.6% at $4.92 and shares are up 7% in local trading in Dublin. National Bank of Greece SA (NYSE: NBG) is up 4.9% at $2.55 in New York but shares are up almost 3% in local trading in Athens.

Credit Suisse Group (NYSE: CS) is up 7% at $24.03 and UBS AG (NYSE: UBS) is up 6.1% at $12.18. Deutsche Bank AG (NYSE: DB) is up 7.9% at $38.36 and shares are up 6.6% in local trading in Frankfurt.

France Telecom (NYSE: FTE) is up 4.3% at $17.01 and shares are up 3.4% in local trading in Paris. Koninklijke Philips Electronics NV (NYSE: PHG) is up 4.6% at $20.00 in New York trading. LM Ericsson Telephone Co. (NASDAQ: ERIC) is up 5.5% at $10.37; Nokia Corporation (NYSE: NOK) is up 4.2% at $5.73. Funny, Nokia’s problems are not really tied to “liquidity” issues or other uncertainties. Siemens AG (NYSE: SI) is up 5.9% at $101.54 in New York and shares are up 4.1% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is up 5.6% at $11.32 in New York and shares are up 4% in local trading in Milan.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

Nokia-Siemens Success Story… 17,000 Layoffs Heading To Europe & Beyond (SI, NOK)

Administrator — Wed, 23 Nov 2011 13:19:36 +0000

The Europeans do not celebrate Thanksgiving. That is a good thing today, because some 17,000 workers in Europe and elsewhere under the Nokia-Siemens Networks venture are going to be fired between now and 2013.

The 50/50 joint venture, owned by Siemens AG (NYSE: SI) and the troubled Nokia Corporation (NYSE: NOK), is aiming to carve out 1 billion Euros in cost savings. The cuts are not just European but are said to be part of an extensive global restructuring program that will not just aim to lower headcount. It looks as though the number of facilities and suppliers will also come under review.

Also targeted are areas such as “real estate, information technology, product and service procurement costs, overall general and administrative expenses, and a significant reduction of suppliers in order to further lower costs and improve quality.”

The telecom and communication infrastructure venture outlined more details here.

JON C. OGG

Filed under: Economy, Infrastructure, International Markets, Labor & Unions, Telecom, Wireless Tagged: NOK, SI

European ADRs Dragging Down U.S. Trading (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI)

Administrator — Tue, 15 Nov 2011 12:44:11 +0000

The Eurozone growth rate of 0.2% in the third quarter may have met expectations but this is just one more example that growth is so low already that getting out of the debt hole is going to be no easy task. As a result, we have another day of Euro-led selling and almost every major European name that has a New York ADR tied to its is trading lower.

Alcatel-Lucent (NYSE: ALU) is down another 2.5% at $1.92 and shares are down 2.6% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down 3.3% at $18.36 and BHP Billiton Ltd. (NYSE: BHP) is down 1.5% at $74.85.

Banco Santander, S.A. (NYSE: STD) is down almost 2% at $7.47 and the stock is down 2% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is down 2.1% at $4.70 and shares are down 2.3% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is down 3.6% at $23.32 and UBS AG (NYSE: UBS) is down over 2.5% at $11.60.

Deutsche Bank AG (NYSE: DB) is down 2.2% at $37.68 and shares are down 2.6% in Frankfurt.

France Telecom (NYSE: FTE) has not traded in New York but shares are indicated under $17.00 after a $17.10 close on Monday; shares are down 1% in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) is down 3.1% at $18.86 in New York trading.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is down 1.8% at $9.99; Nokia Corporation (NYSE: NOK) is indicated down almost 2% at $6.42.

National Bank of Greece SA (NYSE: NBG) is down 5.5% at $0.52 in New York but shares are down 8.5% in local trading in Athens.

Siemens AG (NYSE: SI) is down 1.2% in New York and shares are down 1.7% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is down almost 3% at $11.55 in New York and shares are down almost 3.1% in local trading in Milan.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Follow Italy Much Lower, Wrecking U.S. Market Gains (E, LUX, TI, ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, EWI)

Administrator — Wed, 09 Nov 2011 12:32:30 +0000

Well, it used to be Greece taking us down daily, but now it is the much larger concern of Italy. The markets were supposed to be cheering that Silvio Berlusconi was going to step down but then suddenly the fears of who would or could replace him and the uncertainty have set in. Now Italy’s ten-year yield is not just above 5% and 6%, but above 7%. Unlike Greece just being a flea on a dog, Italy is even larger than a dog’s tail and it is frankly too big to just get a bailout.

Eni SpA (NYSE: E) is down over 4% around $42.30 and shares are down 3% in Milan. Luxottica Group SpA (NYSE: LUX) has not traded and we do not yet have Ney Work indications, but shares were down 3.1% in Milan. Telecom Italia SpA (NYSE: TI) is indicated down around 7% in New York at $11.30 but shares are down 4.5% in local trading in Milan.

Elsewhere in Europe….

Alcatel-Lucent (NYSE: ALU) is down around $1.98 (ouch, 52-week low) after a $2.16 close in New York, and shares are down almost 4% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down over 8% at $19.03 and BHP Billiton Ltd. (NYSE: BHP) is down 4.5% at $76.47 in New York trading in the early pre-markets.

Banco Santander, S.A. (NYSE: STD) is down 7% at $7.50 in active early New York trading but the stock is down more than 3% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is down 1.4% at $5.17 in New York and shares are down 2.2% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is down 7.1% at $24.77 and UBS AG (NYSE: UBS) is down 6.1% at $11.97 in early New York pre-market trading.

Deutsche Bank AG (NYSE: DB) is down over 9% at $36.80 in New York and shares are down about 5% in Frankfurt.

France Telecom (NYSE: FTE) has not traded in New York yet but its shares are down 2% in local trading in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) is indicated down around $19.65 after a $20.86 close in New York for a loss of close to 6%.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is indicated down 5% around $10.15; Nokia Corporation (NYSE: NOK) is down 4.7% at $6.50.

National Bank of Greece SA (NYSE: NBG) is indicated flat to down a couple cents after a $0.59 close in New York but shares are down 4.1% in local trading in Athens.

Siemens AG (NYSE: SI) is down 4.5% at $98.56 in New York trading and shares are down 1.6% in local trading in Frankfurt.

iShares MSCI Italy Index (NYSE: EWI) is trading down 5.2% at $12.87.

Another rough day is being brought on by the woes of the nanny and endless welfare nations in Europe. S&P futures are down over 2% with well over two hours until the market opens.

JON C. OGG

Filed under: ADR, Economy, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, E, ERIC, EWI, FTE, IRE, LUX, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Leading The Charge Higher (ALU, MT, BHP, STD, IRE, CS, UBS, DB, FTE, PHG, ERIC, NOK, NBG, SI, TI, EWI, EWQ, EWG)

Administrator — Thu, 27 Oct 2011 12:01:02 +0000

Greece and the rest of the PIIGS were hurting us for so long that it seems hard to believe that the Europeans are setting a 50% haircut for the Greek sovereign debt and that they have agreed to a $1.4 trillion (1 trillion Euro) Euro-zone rescue package. The news is causing a major rally in the stock markets with the German DAX up over 4% and the French CAC up 5%. The FTSE in England is up 2.6% and the Greek stock market (there actually is one) is up over 6.5%. European ADRs are leading the markets higher this Thursday… Much higher.

Alcatel-Lucent (NYSE: ALU) is up over 2.5% at $2.80 and shares are up 5.1% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is up almost 7% at $20.95 and BHP Billiton Ltd. (NYSE: BHP) is up 5.1% at $82.07.

Banco Santander, S.A. (NYSE: STD) is up 5.6% at $8.87 and the stock was up 6.1% in local trading in Madrid.

The Bank of Ireland (NYSE: IRE) is up 6.2% at $6.17 and shares are up 7% in local trading in Dublin.

Credit Suisse Group (NYSE: CS) is flying with shares up 9.6% at $30.67 and UBS AG (NYSE: UBS) is up 7.8% at $13.65.

Deutsche Bank AG (NYSE: DB) is up a whopping 14% at $46.00 and shares are up 15% in Frankfurt.

France Telecom (NYSE: FTE) is up 1.5% at $18.58 in New York and shares are up 1.5% in Paris as well.

Koninklijke Philips Electronics NV (NYSE: PHG) is up about 6% at $22.23.

LM Ericsson Telephone Co. (NASDAQ: ERIC) is up 5.6% at $10.83; Nokia Corporation (NYSE: NOK) is up 5.3% at $7.13.

National Bank of Greece SA (NYSE: NBG) is up 15.6% at $0.545 in New York but shares are up 12.2% in local trading in Athens.

Siemens AG (NYSE: SI) is up 3.1% at $108.58 in New York and shares are up 3% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) has not yet traded in New York but shares have a pre-trade indication of $13.20 versus a $12.73 close in New York; shares are up 4% in local trading in Milan.

iShares MSCI Italy Index (NYSE: EWI) is up 1.8% at $14.05. iShares MSCI France Index (NYSE: EWQ) is up 4.4% at $22.45 and iShares MSCI Germany Index (NYSE: EWG) is up 4.4% at $22.12.

JON C. OGG

Filed under: ADR, International Markets, Pre-Market Activity, Trading Alert Tagged: ALU, BHP, CS, DB, ERIC, EWG, EWI, EWQ, FTE, IRE, MT, NBG, NOK, PHG, SI, STD, TI, UBS

European ADRs Leading U.S. Stocks Lower (ALU, MT, BHP, STD, CS, DB, FTE, PHG, NOK, SI, TI, UBS)

Administrator — Tue, 04 Oct 2011 12:02:54 +0000

It feels like Groundhog day in Europe. Greece fears are escalating and European markets are sharply lower. The Europeans are just unwilling or are unable to deal with their woes in a timely manner. DJIA futures are down about 100 points again. These are the ADRs of mostly European companies which have traded this morning and leading the markets lower with the FTSE down 3.1%, the DAX down 3.7% and the CAC down 3.2% are as follows:

Alcatel-Lucent (NYSE: ALU) is indicated down 4% at $2.32 but shares are down about 7% in local trading in Paris.

Arcelor Mittal (NYSE: MT) is down “only” 1.1% at $15.33 and BHP Billiton Ltd. (NYSE: BHP) is down 2% at $63.10 this morning.

Banco Santander, S.A. (NYSE: STD) is down almost 1% at $7.61, but shares are down 3% in local trading in Madrid.

Credit Suisse Group (NYSE: CS) is down 2% at $23.73.

Deutsche Bank AG (NYSE: DB) is down 3.4% at $31.70; shares are down about 6% in Frankfurt.

France Telecom (NYSE: FTE) is down only $0.02 at $15.78 in New York; shares are down almost 1.3% in local trading in Paris.

Koninklijke Philips Electronics NV (NYSE: PHG) has not yet traded, but shares are indicated down around $16.70 versus a $17.26 close.

Nokia Corporation (NYSE: NOK) is down 3.3% at $5.26.

Siemens AG (NYSE: SI) is down 1.5% at $85.60, but shares are down 2.9% in local trading in Frankfurt.

Telecom Italia SpA (NYSE: TI) is actually indicated higher this morning but there has been no New York pre-market trading with about two hours until the open. Shares are up 0.9% in local trading in Milan.

UBS AG (NYSE: UBS) is up almost 2.5% at $10.83, but shares are down 0.8% in local markets.

It is going to be another bad day for emerging markets and all we can say there is that we noted the details of the chart deaths taking place in BRIC and emerging markets.

JON C. OGG

Filed under: ADR, International Markets, Trading Alert Tagged: ALU, BHP, CS, DB, FTE, MT, NOK, PHG, SI, STD, TI, UBS