24/7 Wall St. » VOCS

24/7 Wall St. Closing Bell (CVX, WMB, YRCW, CVC, APOL, FSLR, VVUS, KOG, CZR, CEP, DRH, END, SPLS, JOY, SEMG, FORD, GEVO, QUAD, VOCS, SODA)

Paul Ausick — Wed, 29 Feb 2012 21:06:49 +0000

The three major US stock indexes opened higher this morning on the better-than-expected news on US GDP growth (our coverage here). The buying mood turning sour as the Nasdaq neared the 3,000 mark, a place it hasn’t visited in nearly 11 years. Fed Chairman Ben Bernanke’s comments did not include anything unexpected, except perhaps the lack of an affirmation that the Fed would continue its accommodative monetary policy (our coverage here). Crude oil was higher today, with WTI crude up 0.5% at $107.07/barrel and Brent crude up 1.22% at $123.03/barrel. Gold settled down -4.3% at $1,711.30, it’s lowest point in more than a month.

The unofficial closing bells put the DJIA down more than 53 points to 12,951.84(-0.41%), the NASDAQ fell nearly 20 points (-0.67%) to 2,966.89, and the S&P 500 fell -0.47% or about 6.5 points to 1,365.66.

There were several analyst upgrades and downgrades today, including Chevron Corp. (NYSE: CVX) raised to ‘buy’ at Deutsche Bank; Williams Companies Inc. (NYSE: WMB) raised to ‘Conviction Buy List’ at Goldman Sachs (more coverage here); YRC Worldwide Inc. (NASDAQ: YRCW) maintained as ‘underperform’ but target price cut from $15 to $6; Cablevision Systems Corp. (NYSE: CVC) cut to ‘neutral’ at Collins Stewart; and Apollo Group Inc. (NASDAQ: APOL) cut to ‘hold’ at Deutsche Bank.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: First Solar Inc. (NASDAQ: FSLR) is down -12% at $32 after posting a new 52-week low of $31.86 earlier today (more coverage here and here); Vivus Inc. (NASDAQ: VVUS) is up 6.5% at $22.65 (more coverage here); Kodiak Oil & Gas Corp. (NYSE: KOG) is down -6.2% at $9.70; Ceasar’s Entertainment Corp. (NASDAQ: CZR) is up 3.9% at $11.28; Constellation Energy Partners LLC (NYSE: CEP) is up up 6.6% at $2.73; DiamondRock Hospitality Co. (NYSE: DRH) is down -3.5% at $9.94; Endeavor International Corp. (NYSE: END) is down -9.7% at $11.54; Staples Inc. (NASDAQ: SPLS) is down -8.6% at $14.63 (more coverage here); Joy Global Inc. (NYSE: JOY) is down -5.6% at $86.65 (more coverage here); and SemGroup Corp. (NYSE: SEMG) is up 1.53% at $28.55.

Other standouts from today include the following stocks:

Forward Industries Inc. (NASDAQ: FORD) is up about 22% at $2.88. The protective case maker has signed a partnership deal for a waterproof iPad case, and is certainly rising on the prospect of a new iPad 3 announcement next week from Apple Inc. (NASDAQ: AAPL).

Gevo Inc. (NASDAQ: GEVO) is up more than 15% at $10.30. The biofuel maker reports earnings after markets close today. The run-up could have the same effect on the market following a weak report from Pacific Ethanol Inc. (NASDAQ: PEIX).

Quad Graphics Inc. (NYSE: QUAD) is up nearly 15% at $15.01. The printing company reported better-than-expected earnings this morning.

Vocus Inc. (NASDAQ: VOCS) is down about -40% at $13.50 after posting a new 52-week low of $13.10 earlier. The marketing and public relations software maker has acquired privately held iContact for $169 million in cash and stock.

SodaStream International Ltd. (NASDAQ: SODA) is down nearly -14% at $40.29. The beverage equipment maker reported what appear to be good earnings today. More coverage here.

Stay tuned for Thursday. Auto makers will be reporting February sales figures throughout the day. Federal Reserve chairman Ben Bernanke, Cleveland Fed president Sandra Pianalto, Fed governor Sarah Bloom Raskin, Atlanta Fed president Dennis Lockhart, and San Francisco Fed president John Williams are giving speeches. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – New US unemployment benefits claims
8:30 a.m. – US personal income and outlays report
10:00 a.m. – Institute for Supply Management manufacturing index
10:00 a.m. – Construction spending
10:30 a.m. – EIA weekly natural gas storage report
4:30 p.m. – Federal Reserve balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: APOL, CEP, CVC, CVX, CZR, DRH, END, Ford, FSLR, GEVO, JOY, KOG, QUAD, SEMG, SODA, SPLS, VOCS, VVUS, WMB, YRCW

Mid-day Movers (FORD, GEVO, QUAD, VOCS, SODA)

Paul Ausick — Wed, 29 Feb 2012 16:53:56 +0000

At about noon today, all three major US stock indexes are pointed lower, with the DJIA down nearly 59 points at about 12,946, the Nasdaq down more than 13 points at 2,974, and the S&P 500 down nearly 7 points to around 1,36. After moving higher this morning, markets have gone soft following remarks from Fed chairman Ben Bernanke, particularly on a lack of improvement in the unemployment numbers (our coverage here). The dollar is strengthening today after a weak start, with the dollar index up 0.45% at 78.596. The stronger dollar is pushing most commodities up, although crude oil is mixed.

Among the major movers at around noon today are Forward Industries Inc. (NASDAQ: FORD), Gevo Inc. (NASDAQ: GEVO), Quad Graphics Inc. (NYSE: QUAD), Vocus Inc. (NASDAQ: VOCS), and SodaStream International Ltd. (NASDAQ: SODA).

Forward Industries is up nearly 25% at $2.94. Volume is already about 5x the daily average of about 33,000 shares traded. The protective case maker has signed a partnership deal for a waterproof iPad case, and is certainly rising on the prospect of a new iPad 3 announcement next week from Apple Inc. (NASDAQ: AAPL).

Gevo is up nearly 21% at $10.75. Volume is already higher than the daily average of around 127,000 shares traded. The biofuel maker reports earnings after markets close today. The run-up could have the same effect on the market following a weak report from Pacific Ethanol Inc. (NASDAQ: PEIX).

Quad Graphics is up nearly 16% at $15.11. Volume is already double the daily average of around 246,000 shares traded. The printing company reported better-than-expected earnings this morning.

Vocus is down more than -39% at $13.72 after posting a new 52-week low of $13.10 earlier. Volume is already about 20x the daily average of around 160,000 shares traded. The marketing and public relations software maker has acquired privately held iContact for $169 million in cash and stock.

SodaStream is down more than -15% at $40.29. Volume is already 4x the daily average of around 1.2 million shares traded. The beverage equipment maker reported what appear to be good earnings today. More coverage here.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: Ford, GEVO, QUAD, SODA, VOCS

Morning Movers (CEP, NKTR, VOCS, SODA, CZR)

Paul Ausick — Wed, 29 Feb 2012 15:22:43 +0000

The three major US equities indexes opened higher this morning following a better-than-expected report on US GDP growth (our coverage here) and the $712 billion purchase by eurozone banks in the European Central Bank’s latest — and last — long-term refinancing operation (more covereage here). Crude oil prices are also higher on the news. In the first half hour of trading, the DJIA is up about 43 points at around 13,048, the Nasdaq Composite is up more than 12 points at around 2,999, and the S&P 500 is up nearly 5 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 the Constellation Energy Partners LLC (AMEX: CEP), Nektar Therapeutics (NASDAQ: NKTR), Vocus Inc. (NASDAQ: VOCS), SodaStream International Ltd. (NASDAQ: SODA), and Ceasar’s Entertainment Corp. (NASDAQ: CZR).

Constellation is up nearly 17% at $2.99. Volume is already nearly double the daily average of about 57,000 shares traded. The natural gas producer beat estimates this morning.

Nektar is up about 11% at $7.46. Volume is already about equal to the daily average of 1.27 million shares traded. The drug maker has sold royalty rights to two of its products for $124 million.

Vocus is down nearly -38% at $14.07 after posting a new 52-week low of $13.10 earlier. Volume is already about 15x the daily average of around 160,000 shares traded. The marketing and public relations software maker has acquired privately held iContact for $169 million in cash and stock.

SodaStream is down more than -16% at $39.78. Volume is already 5x the daily average of around 1.2 million shares traded. The beverage equipment maker reported what appear to be good earnings today. More coverage here.

Ceasar’s is up more than 5% at $11.43. Volume is already about a third of the daily average of around 1.6 million shares traded. The casino company provided its first quarterly report this morning, showing revenues had risen, but with a net loss of -$1.76/share.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CEP, CZR, NKTR, SODA, VOCS

Top Analyst Upgrades & Downgrades (CEG, DENN, ODSY, ARO, D, EXEL, JNJ, VOCS, ZGEN)

247wallst — Wed, 29 Oct 2008 07:08:30 +0000

These are some of the other non-tech analyst upgrades and downgrades from Wall Street firms this Wednesday morning:

Constellation Energy (CEG) Raised to Buy at Jefferies.
Denny’s (DENN) Raised to Buy at Merriman Curhan Ford.
Odyssey Healthcare (ODSY) Raised to Neutral at JPMorgan.
Aeropostale (ARO) Cut to Market Perform at FBR.
Dominion Resources (D) Cut to Underperform at Jefferies.
Exelixis (EXEL) Cut to Neutral at Piper Jaffray.
Johnson & Johnson (JNJ) Cut to Neutral at JPMorgan.
Vocus (VOCS) Cut to Neutral at Piper Jaffray.
Zymogenetics (ZGEN) Cut to Neutral at Piper Jaffray.

Here are the technology upgrades and downgrades.

Jon C. Ogg
October 29, 2008

Posted in Analyst Calls Tagged: ARO, CEG, D, DENN, EXEL, JNJ, ODSY, VOCS, ZGEN