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24/7 Wall St. Closing Bell — March 28, 2013: Markets Higher, S&P 500 Sets Record (NKE, BIIB, RYAAY, VHS, LULU, XONE, PAYX, SNX, TXI, END, FINL, GME, MOS, BBRY, WGO, CALM, DQ, PF, MTG, S, CLWR, DISH)

Paul Ausick — Thu, 28 Mar 2013 20:06:58 +0000

U.S. equity markets opened slightly higher this morning even following a larger than expected rise in new claims for jobless benefits in the U.S. The final revision to fourth quarter 2012 GDP growth came in at 0.4%, a bit higher than expected (more coverage here). In Europe, Cypriot banks reopened without much excitement (more coverage here), retail sales fell in the eurozone and the Bank of Italy said the country’s GDP contraction in 2013 may be larger than expected. In Asia, China is expected to impose constraints on property sales in some cities and already has imposed more regulation on wealth management firms. Japanese retail sales also fell more than expected. The S&P 500 index closed at a new all-time high today.

The U.S. dollar index fell 0.35% today, now at 82.928. The GSCI commodity index is up 0.5% at 657.78, with commodities prices mostly lower today on a USDA report that corn plantings will outpace last year (more coverage here). WTI crude oil closed up 0.7% today, at $97.23 a barrel, and closed out the month up 5.6% and the first quarter of the year up 5.9%. Brent crude trades up 0.3% at $109.98 a barrel. Natural gas is down 1.5% today at about $4.01 per million BTUs after a larger than expected storage withdrawal (more coverage here). Gold settled down 0.7% today at $1,595.70 an ounce, up 1.1% for the month, but down 4.8% for the first quarter.

Note the U.S. markets are closed tomorrow in observance of Good Friday.

The unofficial closing bells put the DJIA up more than 49 points to 14,575.85 (0.34%), the NASDAQ rose 11 points (0.34%) to 3,267.52, and the S&P 500 rose 0.40% or more than 6 points to 1,569.06.

There were a several analyst upgrades and downgrades today, including Nike Inc. (NYSE: NKE) started as ‘buy’ with a price target of $70 at Goldman Sachs; Biogen Idec Inc. (NASDAQ: BIIB) started as ‘outperform’ at JMP Securities; Ryanair Holdings PLC (NASDAQ: RYAAY) raised to ‘buy’ at Citigroup; Vanguard Health Systems Inc. (NYSE: VHS) cut to ‘market perform’ at Wells Fargo; and Lululemon Athletica Inc. (NASDAQ: LULU) started as ‘neutral’ at Goldman Sachs.

Earnings reports since markets closed last night resulted in several price moves today, including these: The ExOne Co. (NASDAQ: XONE) is up 7.7% at $32.94 after posting a new 52-week high of $34.27 earlier today (more coverage here); Paychex Inc. (NASDAQ: PAYX) is up 0.6% at $34.97 after posting a new 52-week high of $35.18 earlier today; Synnex Corp. (NYSE: SNX) is down 9.6% at $36.96; Texas Industries Inc. (NYSE: TXI) is down 5.9% at $62.12; Endeavor Mining Corp. (NYSE: END) is down 4.8% at $2.95; Finish Line Inc. (NASDAQ: FINL) is up 6.6% at $19.49; GameStop Corp. (NYSE: GME) is up 5.4% at $27.88 after posting a new 52-week high of $28.67 earlier today; Mosaic Co. (NYSE: MOS) is up 1.6% at $59.61 (more coverage here); BlackBerry (NYSE: BBRY) is down 1.4% at $14.37 (more coverage here); and Winnebago Industries Inc. (NYSE: WGO) is down 5.5% at $20.67.

Before markets open Monday morning we are scheduled to hear from Cal-Maine Foods Inc. (NASDAQ: CALM) and Daqo New Energy Corp. (NYSE: DQ).

Some standouts among heavily traded stocks today include:

Pinnacle Foods Inc. (NYSE: PF) is up 12.6% at $22.53. The frozen food processor held its IPO today. More coverage here.

MGIC Investment Corp. (NYSE: MTG) is up 5.7% at $4.86. The mortgage loan insurer had no news today, but new data indicates that foreclosures continue to fall (more coverage here).

Sprint Nextel Corp. (NYSE: S) is up 2.4% at $6.19. The mobile carrier paid out another $80 million to Clearwire Corp. (NASDAQ: CLWR), a clear sign that a counter-offer from Dish Network Corp (NASDAQ: DISH) is likely to either disappear or be rejected.

Stay tuned for Monday. U.S. markets are closed tomorrow, but two planned data releases are on the schedule. On Monday, carmakers will report new vehicle sales for March. We have also noted the following events on the schedule (all times Eastern):

Friday

8:30 a.m. – Personal income and spending
9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index

Monday

8:58 a.m. – PMI manufacturing index
10:00 a.m. – Construction spending
11:30 a.m. – 3- and 6-month bill auctions

Have a great, long weekend!

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: BBRY, BIIB, CALM, CLWR, DISH, DQ, END, FINL, GME, LULU, MOS, MTG, NKE, PAYX, PF, RYAAY, S, SNX, TXI, VHS, WGO, XONE

24/7 Wall St. Closing Bell — March 27, 2013: Markets Close Mixed After Low Start (VMW, GOOG, AOL, GIS, ORCL, MFRM, SAI, XONE, PAYX, SNX, TXI, END, FINL, GME, MOS, BBRY, WGO, CLF, FB, GILD)

Paul Ausick — Wed, 27 Mar 2013 20:06:27 +0000

U.S. equity markets opened lower this morning following a stack of poor reports on the Italian economy. New industrial orders were down, industrial sales were down, and retail sales were down. To top it off, the newly elected prime minister has failed to form a new coalition government. There was no data from Asia today, but markets there were higher following yesterday’s gains in the U.S. Data on U.S. pending home sales was not as weak as it appeared (more coverage here) and expectations for an upwardly revised U.S. GDP growth figure due out tomorrow (more coverage here).

The U.S. dollar index rose 0.43% today, now at 83.231. The GSCI commodity index is up 0.9% at 654.54, with commodities prices mostly higher today on a stronger dollar. WTI crude oil closed up 0.1% today, at $96.38 a barrel, after a sharp rise in inventories (more coverage here). Brent crude trades up 0.3% at $109.87 a barrel. Natural gas is up 1.8% today at about $4.07 per million BTUs. Gold settled up 0.7% today at $1,606.20 an ounce.

The unofficial closing bells put the DJIA down more than 33 points to 14,526.16 (-0.23%), the NASDAQ rose about 4 points (0.12%) to 3,256.52, and the S&P 500 fell 0.06% or about 1 point to 1,562.86.

There were a several analyst upgrades and downgrades today, including VMware Inc. (NYSE: VMW) raised to ‘strong buy’ although price target lowered to $115 at ISI; Google Inc. (NASDAQ: GOOG) reiterated as ‘outperform’ and target price raised to $982 at Credit Suisse; AOL Inc. (NYSE: AOL) raised to ‘overweight’ with a price target of $44 at Barclays; General Mills Inc. (NYSE: GIS) raised to ‘buy’ with a price target of $57 at Argus; and Oracle Corp. (NASDAQ: ORCL) reiterated as ‘buy’ with a target price of $38 at BofA/Merrill Lynch.

Earnings reports since markets closed last night resulted in several price moves today, including these: Mattress Firm Holding Corp. (NASDAQ: MFRM) is up 12.6% at $34.93 and SAIC Inc. (NYSE: SAI) is up 3.9% at $13.33 after posting a new 52-week high of $13.65 earlier today.

Before markets open tomorrow morning we are scheduled to hear from The ExOne Co. (NASDAQ: XONE) (more coverage here), Paychex Inc. (NASDAQ: PAYX), Synnex Corp. (NYSE: SNX), Texas Industries Inc. (NYSE: TXI), Endeavor Mining Corp. (NYSE: END), Finish Line Inc. (NASDAQ: FINL), GameStop Corp. (NYSE: GME), Mosaic Co. (NYSE: MOS), BlackBerry (NASDAQ: BBRY), and Winnebago Industries Inc. (NYSE: WGO).

Some standouts among heavily traded stocks today include:

Cliffs Natural Resources Inc. (NYSE: CLF) is down 14.6% at $18.30 after posting a new 52-week low of $17.95 earlier today. The iron ore and coal miner took a number of analysts’ downgrades today.

Facebook Inc. (NASDAQ: FB) is up 3.5% at $26.09. The social media company is working on a new advertising plan and investors are looking for a boost to revenues.

Gilead Sciences Inc. (NASDAQ: GILD) is up 4.4% at $47.76 after posting a new 52-week high of $47.83 earlier today. The drugmaker got a boost from an approval to proceed with testing of its hepatitis-C drug.

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

8:30 a.m. – GDP
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Corporate profits
9:45 a.m. – Chicago PMI
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – Kansas City Fed manufacturing index
11:30 a.m. – 7-year note auction
4:30 p.m. – Fed balance sheet and money supply

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AOL, BBRY, CLF, END, FB, FINL, GILD, GIS, GME, GOOG, MFRM, MOS, ORCL, PAYX, SAI, SNX, TXI, VMW, WGO, XONE

24/7 Wall St. Closing Bell — December 20, 2012: Markets Open Mixed, Climb at Close (FCX, BLK, ABT, SAM, LNCO, BBBY, JBL, PAYX, KMX, CCL, CAG, DFS, KBH, RAD, SCHL, NKE, RHT, RIMM, WAG, NYX, ICE, ELOQ, ORCL, MDRX, WGO)

Paul Ausick — Thu, 20 Dec 2012 21:06:01 +0000

U.S. equity markets opened flat to higher again this morning following the third revision to U.S. GDP growth in the third quarter and the report on new claims for unemployment benefits (more coverage here). Growth rose to 3.1%, but the deflator was unchanged at 2.7%. In Europe, Germany’s producer price index dropped 0.1% in December, better than the expected 0.2% decline. Retail sales were down 1% in Italy, but unchanged in the U.K. In Asia, the Bank of Japan increased its stimulus by 10 trillion yen (about $110 billion) and left its key interest rate at 1%. The central bank is also raising Japan’s inflation target from 1% to 2%. In the U.S., existing home sales rose to a seasonally adjusted annual rate of 5.04 million and the FHFA house price index rose 0.5%, both signs of a continuing recovery in housing (more coverage here).

The U.S. dollar index fell today, now down 0.02% at 79.249. The GSCI commodity index is up 0.7% at 644.73, with commodities prices mostly lower again today. WTI crude oil closed up fractionally today, at $90.01 a barrel. Brent crude trades down 0.2% at $110.17 a barrel. Natural gas is up 3.8% today at about $3.45 per thousand cubic feet following the EIA report on gas storage inventories (more coverage here). Gold settled down 1.3% today at $1,645.90 an ounce.

The unofficial closing bells put the DJIA up nearly 60 points to 13,311.72 (0.45%), the NASDAQ rose about 6 points (0.20%) to 3,050.39, and the S&P 500 rose 0.55% or nearly 8 points to 1,442.69.

There were several analyst upgrades and downgrades today, including Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) raised to ‘buy’ at Deutsche Bank; BlackRock Inc. (NYSE: BLK) started as ‘overweight’ at J.P. Morgan; Abbott Laboratories (NYSE: ABT) started as ‘outperform’ at William Blair; Boston Beer Co. (NYSE: SAM) started as ‘neutral’ at Citigroup; and LinnCo (NASDAQ: LNCO) started as ‘outperform’ at Wells Fargo.

Earnings reports since markets closed last night have resulted in the following price change as of the last half hour of trading today: Bed, Bath & Beyond Inc. (NASDAQ: BBBY) is down 6.8% at $56.19 after posting a new 52-week low of $54.33 earlier today; Jabil Circuit Inc. (NYSE: JBL) is up 8.1% at $20.07; Paychex Inc. (NASDAQ: PAYX) is down 2% at $32.38; Carmax Inc. (NYSE: KMX) is up 8.9% at $37.94 after posting a new 52-week high of $38.24 earlier today; Carnival Corp. (NYSE: CCL) is down 5.3% at $36.98; ConAgra Foods Inc. (NYSE: CAG) is up 0.6% at $30.13 after posting a new 52-week high of $30.86 earlier today (more coverage here); Discover Financial Services (NYSE: DFS) is down 3.8% at $38.26 (more coverage here); KB Home (NYSE: KBH) is down 6.9% at $15.52 (more coverage here); Rite Aid Corp. (NYSE: RAD) is up 19.7% at $1.25; and Scholastic Corp. (NASDAQ: SCHL) is down 1.5% at $28.85.

After markets close today and before they open on Monday morning we are scheduled to hear from Nike Inc. (NYSE: NKE), Red Hat Inc. (NYSE: RHT), Research in Motion Ltd. (NASDAQ: RIMM), and Walgreen Co. (NYSE: WAG).

Some standouts from today include the following stocks:

NYSE Euronext (NYSE: NYX) is up 33.8% at $32.19 after posting a new 52-week high of $33.38 earlier today. The owner of the NYSE is being acquired by Intercontinental Exchange Inc. (NYSE: ICE). More coverage here.

Eloqua Inc. (NASDAQ: ELOQ) is up 31.6% at $23.58. The business application software firm is being acquired by Oracle Corp. (NASDAQ: ORCL) for $871 million.

Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) is down 14.3% at $9.15. The medical records software firm fired its CEO and terminated its search for a buyer.

Winnebago Industries Inc. (NYSE: WGO) is up 14.5% at $16.12 after posting a new 52-week high of $16.42 earlier today. The recreational vehicle maker beat profit and revenue estimates handily this morning.

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

8:30 a.m. – Durable goods orders
8:30 a.m. – Personal income and spending
8:30 a.m. – Chicago Fed national activity index
9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment
11:00 a.m. – Kansas City Fed manufacturing index

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ABT, BBBY, BLK, CAG, CCL, DFS, ELOQ, FCX, ICE, JBL, KBH, KMX, LNCO, MDRX, NKE, NYX, ORCL, PAYX, RAD, RHT, RIMM, SAM, SCHL, WAG, WGO

24/7 Wall St. Closing Bell — December 7, 2012: Markets Wobble to Mixed Close (TCK, MCD, SYT, AET, MPEL, HWD, PANW, SWHC, WGO, UEC, SMRT, SCHL, FGP, CMVT, AMRN, GRPN, F)

Paul Ausick — Fri, 07 Dec 2012 21:04:25 +0000

U.S. equity markets opened higher this morning following a poor growth forecast from Europe and a better-than-expected report on U.S. unemployment. The German central bank said this morning that Germany’s expected GDP growth in 2013 was a mere 0.4%, down massively from a 1.6% growth projection in July (more coverage here). In Asia markets closed mixed, with Shanghai up the most on a report of a large urbanization plan for Sichuan province. The U.S. unemployment rate fell to 7.7% in November and non-farm payrolls rose by 146,000 (more coverage here). That good news was diluted by a poor report on consumer sentiment (more coverage here). Markets finished mixed today, with the tech heavy Nasdaq closing lower and the S&P and the Dow both closing higher.

The U.S. dollar index rose today, now up 0.19% at 80.408. The GSCI commodity index is down 1.2% at 635.69, with commodities prices mostly lower today on the stronger dollar. WTI crude oil closed down 0.4% today, at $85.93 a barrel, down more than 3% for the week. Brent crude trades flat at $107.03 a barrel. Natural gas is down 3% today at about $3.56 per thousand cubic feet. Gold settled up 0.2% today at $1,705.50 an ounce, but fell 0.4% on the week.

The unofficial closing bells put the DJIA up about 81 points to 13,155.13 (0.62%), the NASDAQ fell more than 11 points (-0.38%) to 2,978.04, and the S&P 500 rose 0.29% or about 4 points to 1,418.07.

There were several analyst upgrades and downgrades today, including Teck Resources Ltd. (NYSE: TCK) cut to ‘hold’ at TD Securities; McDonald’s Corp. (NYSE: MCD) raised to ‘buy’ with a target price of $104 at Janney Capital; Syngenta AG (NYSE: SYT) raised to ‘neutral’ at JPMorgan Chase; Aetna Inc. (NYSE: AET) raised to ‘overweight’ with a target price of $52 at JPMorgan Chase; and Melco Crown Entertainment Ltd. (NASDAQ: MPEL) raised to ‘overweight’ with a $20 target price at JPMorgan Chase.

Earnings reports since markets closed last night have resulted in several price changes for reporting companies as of the last half hour of trading today: Harry Winston Diamond Corp. (NYSE: HWD) is down 1.4% at $14.21; Palo Alto Networks Inc. (NYSE: PANW) is down 0.3% at $51.14 (more coverage here); and Smith & Wesson Holding Co. (NASDAQ: SWHC) is down 8.1% at $9.97 (more coverage here).

No significant earnings reports are due before markets open Monday morning, but later that day we’re scheduled to hear from Winnebago Industries Inc. (NYSE: WGO), Uranium Energy Corp. (NYSEMKT: UEC), Stein Mart Inc. (NASDAQ: SMRT), Scholastic Corp. (NASDAQ: SCHL), Ferrellgas Partners LP (NYSE: FGP), and Comverse Technology Inc. (NASDAQ: CMVT).

Some standouts from today include the following stocks:

Amarin Corporation plc (NASDAQ: AMRN) is down about 19% at $9.73. The biopharma company is taking on more debt to ramp up the launch and sales of its new cardio drug. More coverage here.

Groupon Inc. (NASDAQ: GRPN) is up 20.7% at $4.60. The daily deals company had no news today, and everybody wonders what’s going on. Unfortunately shares are still down about 75% for the year to date.

Ford Motor Co. (NYSE: F) is up 2% at $11.46. The automaker recalled 19,000 of its 2013 Fusion models today and Consumer Reports challenged the mileage ratings on two of its hybrid models. Investors don’t seem to mind. More coverage 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 auctions

Have a great weekend!

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AET, AMRN, CMVT, F, FGP, GRPN, HWD, MCD, MPEL, PANW, SCHL, SMRT, SWHC, SYT, TCK, UEC, WGO

24/7 Wall St. Closing Bell — October 11, 2012: Markets Fail to Hold Morning Gains (COST, ZNGA, PCS, EA, HST, ADTN, RT, SWY, DRWI, WGO, SCHW, JBHT, WFC, ICPT, KYTH, SSTK, RLGY, CLWR, S, ANR, THC, DLTR)

Paul Ausick — Thu, 11 Oct 2012 20:02:50 +0000

The three major U.S. stock indexes opened higher this morning on traders initial reaction to a sharp drop in the weekly report on new claims for unemployment (more coverage here). In Asia, South Korea lowered its GDP growth forecast from 3.2% to 2.4% for 2012 and from 3.8% to 3.2% for 2013 and dropped interest rates by 0.25%. In Europe, Spanish stocks fell on a downgrade from S&P, but markets in other eurozone countries were up on little new data. The U.S. trade deficit rose more than expected in August, while export and import prices both rose (more coverage here). After a good start, equities closed the day mixed, right about where they started.

The U.S. dollar index rose today, now down 0.18% at 79.770. The GSCI commodity index is down fractionally at 664.76, with commodities prices mostly higher today. WTI crude oil closed up 0.9% today, at $92.07 a barrel, following today’s reported increase in crude supplies (more coverage here). Brent crude trades up 1.2% at $115.74 a barrel. Natural gas is up 3.8% today to nearly $3.61 per thousand cubic feet after the weekly storage report showed only a modest build in inventories (more coverage here). Gold closed at $1,770.60 an ounce, up 0.3%.

The unofficial closing bells put the DJIA down nearly 17 points to 13,328.12 (-0.13%), the NASDAQ fell more than 2 points (-0.08%) to 3,049.38, and the S&P 500 rose 0.02% or less than 1 point to 1,432.88.

There were several analyst upgrades and downgrades today, including Costco Wholesale Corp. (NASDAQ: COST) reiterated as ‘buy’ and target price raised to $113 at Argus; Znyga Inc. (NASDAQ: ZNGA) started as ‘underperform’ with a $3.00 target price at Credit Suisse (more coverage here); MetroPCS Communications Inc. (NYSE: PCS) cut to ‘underperform’ at Oppenheimer; Electronic Arts Inc. (NASDAQ: EA) started as ‘neutral’ at Credit Suisse; and Host Hotels & Resorts Inc. (NYSE: HST) cut to ‘neutral’ at Goldman Sachs.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: ADTRAN Inc. (NASDAQ: ADTN) is down 0.6% at $15.88; Ruby Tuesday Inc. (NYSE: RT) is up 0.5% at $7.06; Safeway Inc. (NYSE: SWY) is down 3.2% at $15.77 (more coverage here); Dragonwave Inc. (NASDAQ: DRWI) is up 15% at $2.53; and Winnebago Industries Inc. (NYSE: WGO) is down 1.2% at $12.05 (more coverage here).

Before markets open tomorrow we are scheduled to hear from The Charles Schwab Corp. (NYSE: SCHW), J.B. Hunt Transportation Services Inc. (NASDAQ: JBHT), and Wells Fargo & Co. (NYSE: WFC).

There were four hugely successful IPOs today: Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) opened at $15 a share and is trading at $19.00 currently; Kythera Biopharmaceuticals Inc. (NASDAQ: KYTH) opened at $16.00 and current trades at $19.56; Shutterstock Inc. (NYSE: SSTK) opened at $17 a share and currently trades at $21.80; and Realogy Holdings Corp. (NYSE: RLGY) priced at $27 a share and trades currently at $34.01 (more coverage here).

Some standouts from today include the following stocks:

Clearwire Corp. (NASDAQ: CLWR) is up 57.7% at $2.05. The wireless carrier is jumping on the news that Sprint Nextel Corp. (NYSE: S) is negotiating a sale of a stake in Sprint to Japan’s SoftBank. More coverage here.

Alpha Natural Resources Inc. (NYSE: ANR) is up 15.6% at $8.47. The coal miner is leading other coal stocks in a sharp climb today on the continuing rise in natural gas prices and the prospects for a colder winter.

Tenet Healthcare Corp. (NYSE: THC) is up 305% at $24.18. The healthcare provider executed a 1-for-4 reverse stock split today.

Dollar Tree Inc. (NASDAQ: DLTR) is down 8.2% at $43.07. The discount retailer cut its sales outlook today.

Stay tuned for Friday. Richmond Fed President Jeffrey Lacker is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – Producer price index
9:55 a.m. – University of Michigan/Thomson Reuters consumer sentiment index
2:00 p.m. – Treasury budget

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ADTN, ANR, CLWR, COST, DLTR, DRWI, EA, HST, ICPT, JBHT, KYTH, PCS, RLGY, RT, S, SCHW, SSTK, SWY, THC, WFC, WGO, ZNGA

Winnebago Sales, Backlog Lead Results

Paul Ausick — Thu, 11 Oct 2012 12:53:51 +0000

Winnebago Industries Inc. (NYSE: WGO) reported fiscal fourth quarter and full-year 2012 results before markets opened this morning. For the fourth quarter, the maker of recreational vehicles posted adjusted diluted earnings per share (EPS) of $0.14 on revenues of $162.5 million. In the same period a year ago, the company reported EPS of $0.22 on sales of $130.55 million. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.17 EPS and $163.03 million in sales.

For the full fiscal year, adjusted EPS totaled $0.25, compared with $0.41 a year ago, and revenues totaled $581.7 million, compared with $496.42 million a year ago. Fourth-quarter and full-year results included tax benefits of $36.9 million and $37.7 million, respectively. The consensus estimates for full-year results called for EPS of $0.30 on sales of $578.45 million.

The company’s CEO said:

The dramatic increase in our sales order backlog reflects the positive dealer response to our new 2013 model year products. As a result of the improved demand, we ramped up production throughout the fourth quarter. We will continue to increase production during Fiscal 2013 to meet the growing demand for our products.

The company did not offer any guidance for the 2013 fiscal year or the first quarter in its published results.

The interesting thing about Winnebago is the sales and backlog increases. Think about it: very few people need a motor home or a towable travel trailer. But year-over-year sales of trailers rose more than 200%, and the more expensive motor homes had an increase of 5.6% for the full year. For the quarter, motor home sales were up 21% and trailer sales rose 94%. And backlogs are up 116% for motor homes and 40% for trailers. Some part of the U.S. economy is doing pretty well right now if recreational vehicle sales and orders are rising this much.

Winnebago’s shares are inactive in premarket trading after closing at $12.20 last night. The 52-week range is $6.02 to $13.23. Thomson Reuters had a consensus analyst price target of around $13.00 before today’s report.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Autos, Consumer Goods, Earnings Tagged: WGO

24/7 Wall St. Closing Bell — October 10, 2012: Markets Slide Again (HD, QCOM, DLTR, ARMH, JCI, AA, YUM, COST, HELE, HST, RT, SWY, WGO, OCZ, AUG, TRLG, SIRI)

Paul Ausick — Wed, 10 Oct 2012 20:05:34 +0000

The three major U.S. stock indexes opened about flat this morning following rather lackluster trading in Asia and Europe. There was little economic data out today, although both France and Italy turned in better-than-expected industrial production increases. In China, a report that the government would subsidize auto purchases among rural residents sent markets higher, while Japanese markets were lower on weaker auto sales in China. U.S. economic data got off to a somewhat slow start with a slight decline in mortgage applications (more coverage here). This afternoon’s auction of 10-year Treasurys (more coverage here) and the release of the Fed’s Beige Book, which noted a “modest” expansion in the U.S. economy (more coverage here), were not enough to light a fire under buyers.

The U.S. dollar index rose today, now down 0.06% at 79.904. The GSCI commodity index is up 1.6% at 667.25, with commodities prices mostly lower today. WTI crude oil closed down 1.2% today, at $91.25 a barrel. Brent crude trades down 0.2% at $114.31 a barrel. Natural gas is up 0.3% today to $3.476 per thousand cubic feet. Gold closed at $1,765.10 an ounce, up just $0.10 an ounce, but the first rise in three days.

The unofficial closing bells put the DJIA down more than 128 points to 13,344.97 (-0.95%), the NASDAQ fell more than 13 points (-0.43%) to 3,051.78, and the S&P 500 fell -0.62% or nearly 9 points to 1,432.57.

There were several analyst upgrades and downgrades today, including Home Depot Inc. (NYSE: HD) cut to ‘perform’ at Oppenheimer; Qualcomm Inc. (NASDAQ: QCOM) raised to ‘outperform’ at BNP Paribas; Dollar Tree Inc. (NASDAQ: DLTR) raised to ‘outperform’ at Wells Fargo; ARM Holdings plc (NASDAQ: ARMH) started as ‘neutral’ at Credit Suisse; and Johnson Controls Inc. (NYSE: JCI) cut to ‘neutral’ at BofA/ML.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Alcoa Inc. (NYSE: AA) is down 4.7% at $8.70 (more coverage here); Yum! Brands Inc. (NYSE: YUM) is up 7.7% at $70.79 (more coverage here); Costco Wholesale Corp. (NASDAQ: COST) is up 1.9% at $101.50 after posting a new 52-week high of $104.43 earlier today (more coverage here); Helen of Troy Ltd. (NASDAQ: HELE) is down 12.2% at $28.05 (more coverage here); and Host Hotels and Resorts Inc. (NYSE: HST) is up 1.3% at $15.73.

Before markets open tomorrow we are scheduled to hear from Ruby Tuesday Inc. (NYSE: RT), Safeway Inc. (NYSE: SWY), and Winnebago Industries Inc. (NYSE: WGO).

Some standouts from today include the following stocks:

OCZ Technology Group Inc. (NASDAQ: OCZ) is down 40.6% at $1.87 after posting a new 52-week low of $1.79 earlier today. The solid-state drive company will file quarterly results late and revenues will be lower. More coverage here.

AuRico Gold Inc. (NYSE: AUQ) is up 20.2% at $7.72. The junior gold miner sold a Mexican mine and a stake in another property for $750 million in cash.

True Religion Apparel Inc. (NASDAQ: TRLG) is up 21.8% at $25.59. The clothing retailer said today that it is exploring strategic alternatives. More coverage here.

Sirius XM Radio Inc. (NASDAQ: SIRI) is up 4.2% at $2.74 after posting a new 52-week high of $2.75 earlier today. The satellite radio company raised guidance on subscriber numbers today. More coverage here.

Stay tuned for Thursday. Fed Governor Jeremy Stein, Philadelphia Fed President Charles Plosser and St. Louis Fed President James Bullard are giving speeches. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – International trade
8:30 a.m. – New claims for unemployment benefits
8:30 a.m. – Import and export prices
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – EIA weekly petroleum status report
1:00 p.m. – 30-year note auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AA, ARMH, AUG, COST, DLTR, HD, HELE, HST, JCI, OCZ, QCOM, RT, SIRI, SWY, TRLG, WGO, YUM

24/7 Wall St. Closing Bell — June 14, 2012 (CS, ADBE, BBY, EAT, TSLA, BP, KR, PIR, SFD, WGO, CPST, RBY, NOK, LSCC, QCOM)

Paul Ausick — Thu, 14 Jun 2012 20:06:32 +0000

The three major US stock indexes opened slightly higher this morning following the data on new US unemployment benefits claims (more coverage here) and 10-year Spanish bond yields that topped 7% (more coverage here). The Swiss National Bank also encouraged Credit Suisse (NYSE: CS) to raise more capital (our coverage here). US data related to consumer prices came in pretty much as expected and did not influence markets much.

The US dollar index fell today, now down -0.07% at 81.999. The GSCI commodity index is down about -0.7% at 576.87, with commodities prices mixed again today. WTI crude oil closed up 1.6% at $83.91/barrel. Brent crude trades up 0.34% at $97.05/barrel. Natural gas rose nearly 14% today to $2.487/thousand cubic feet, following a smaller than expected build in US inventories. Gold settled up fractionally, at $1,619.60/ounce. A late afternoon rumor related to coordinated central bank actions in Europe pushed shares sharply higher in the last hour of trading today (our story here).

The unofficial closing bells put the DJIA up more than 155 points to 12,651.76 (1.24%), the NASDAQ rose nearly 18 points (0.63%) to 2,836.33, and the S&P 500 rose 1.08% or more than 14 points to 1,329.10.

There were several analyst upgrades and downgrades today, including Adobe Systems Inc. (NASDAQ: ADBE) cut to ‘hold’ at Jefferies; Best Buy Co. Inc. (NYSE: BBY) raised from ‘sell’ to ‘neutral’ at Citigroup; Brinker International (NYSE: EAT) raised to ‘buy’ at Argus; Tesla Motors Inc. (NASDAQ: TSLA) started as ‘buy’ at Lazard; and BP plc (NYSE: BP) maintained as ‘hold’ but estimates cut at Argus.

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: Kroger Co. (NYSE: KR) is up 5.6% at $22.48; Pier 1 Imports Inc. (NYSE: PIR) is up 1.5% at $15.82; Smithfield Foods Inc. (NYSE: SFD) is down -5.8% at $18.43; and Winnebago Industries Inc. (NYSE: WGO) is up 3.1% at $9.27. Capstone Turbine Corp. (NASDAQ: CPST) and Rubicon Minerals Corp. (AMEX: RBY) are scheduled to report quarterly earnings after markets close today.

Other standouts from today include the following stocks:

Nokia Corp. (NYSE: NOK) is down -15% at $2.37 after posting a new 52-week low of $2.30 earlier today. The Finnish wireless phone maker announced an additional 10,000 firings and more cost-cutting measures. More coverage here.

Lattice Semiconductor Corp. (NASDAQ: LSCC) is down -14.9% at $3.82 after posting a new 52-week low of $3.70 earlier today. The chip maker warned on second quarter revenues and margins.

Qualcomm Inc. (NASDAQ: QCOM) is down -4.3% at $56.41. The chipmaker is suffering from a report that sales of cutomer Samsung’s smartphones are down.

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

8:30 a.m. – Empire State manufacturing survey
9:00 a.m. – Treasury International Capital (TIC) data
9:15 a.m. – Industrial production
9:55 a.m. – University of Michigan/Reuters consumer sentiment index

Paul Ausick

Filed under: Active Trader, HI/LOW, Market Close Tagged: ADBE, BBY, BP, CPST, CS, EAT, KR, LSCC, NOK, PIR, QCOM, RBY, SFD, TSLA, WGO

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 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