S&P 500 Chart, Looking for That Oversold Bounce
Jon OggStocks are trying to hold on to gains after several days of selling and now we have to consider that we may be seeing an “oversold market bounce” trying to take shape. Today…
All Work
Jon C. Ogg
Fitch Sees Fiscal Cliff as Largest Risk to Cutting Global Growth
Fitch Ratings has a report out this Thursday calling the coming fiscal cliff as the ultimate risk to the global growth scenario. The long and short is that it could cut the global growth…
Chicago Fed Manufacturing Index Drops for August
Another day with another lower report on manufacturing trends … The Chicago Federal Reserve has released the Chicago Fed Manufacturing Index for the month of August showing that the index fell by 1.2%. The…
Explaining the 40% Upside Call for Yahoo!
Yahoo.comYahoo! Inc. (NASDAQ: YHOO) was reinstated with coverage with a Buy rating at Goldman Sachs this morning. It is not just the Buy rating that matters. What matters the most is that the stock was…
Weekly Jobless Claims Better, but Durable Goods and GDP Major Disappointment
This Thursday brought a slew of data on the economic front. We had durable goods, weekly jobless claims, and there was even a Q2 final revision for gross domestic product. The final revision for…
Top Analyst Upgrades and Downgrades (ALTR, MT, DF, GM, GT, GOOG, HPQ, HON, IMGN, KSU, MXIM, MON, NAV, OMX, TRIP, VR, XRX, YHOO)
Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen from Wall St. research calls this Thursday. Altera Corp. (NASDAQ: ALTR) cut to Hold at Jefferies. ArcelorMittal (NYSE: MT) cut to Sell…
Labor Strike May Threaten Petrobras
Petroleo Brasileiro SAPetroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, may have a new problem on its hands. This is in the form of a labor issue. Wednesday’s 24-hour “warning” strike makes good on a…
Aegis Chief Investment Officer Sees Up To 25% Market Correction Soon
Stanley Crouch, who is Chief Investment Officer of Aegis Capital, came on CNBC today and he is calling for pullback in the stock market and in risk assets. Not just a small correction. Crouch…
iShares Silver Trust Files To Become Even Larger
The iShares Silver Trust (NYSEMKT: SLV) is about to allow itself to get significantly larger. The trust and exchange-traded product has just filed to allow for the creation of many more shares. With the…
5-Year Treasury Auction Goes Off At Second-Lowest Yield
Treasury prices are firm and yields are lower, not just because of protests in Spain and Greece over the coming austerity measures. Today’s 5-year Treasury Note auction was given an “A” grade from CNBC’s Rick…
BofA Raising High-Dividend Mortgage REITs, But Warns of Lower Dividends
We recently became worried about the future dividends of the high-yielding mortgage REIT sector due to QE3’s focus being on $40 billion in mortgage-backed securities. In fact, after our call of caution about the future…
CEO Confidence Plummets on U.S. Outlook
The Business Roundtable’s CEO Economic Outlook Survey for the third quarter of 2012 is out, and the word to describe the report would be cautious. The report shows that CEOs are again decreasing their…
Short Sellers Lighten Up on Bets Against Casinos and Gambling (BYD, CZR, LVS, MPEL, MGM, PENN, WYNN, IGT)
Short sellers have actually lightened up on their bets against the casinos and against the gambling machine makers. Perhaps the drop from the highs has taken the easy money out of the…
PC Deevolution: HP 8-Year Low, Dell Lowest Since Great Recession (HPQ, DELL, CSCO, AAPL)
Hewlett-Packard Co. (NYSE: HPQ) is in trouble. While the turnaround is still not yet in the seventh inning, Meg Whitman’s work is difficult and will only be that much more challenging ahead. The problem…
Short Selling Activity in Big Dividend Stocks as Dividend Bubble Inflates (MO, AEP, NLY, T, DUK, KMB, KMP, MRK, PG, RAI, VZ)
Short sellers are still active in the high-dividend names out there. Apparently many are under the impression that the dividend bubble is worth betting against. Still, it takes keen conviction to short sell a…
S&P 500 Chart Versus Anti-Austerity Protests
Stocks are on the defensive after yesterday’s anti-QE3 comments from Fed President Plosser got the selling started. Now we have anti-austerity protests in Spain and Greece trying to reverse the austerity measures. The U.S. markets are…
Blyth Crushed After Withdrawing ViSalus IPO
Blyth Inc. (NYSE: BTH) is a direct-to-consumer market outfit and its shares are getting slapped down hard this morning. The company has issued news that its ViSalus subsidiary has filed to withdraw its initial public…
Top Analyst Upgrades and Downgrades (AKRX, BRCM, CCL, CHK, CHA, EA, FB, GTAT, LLL, MKTX, MRVL, RSG, SNDK, TXN, RIG, WM, WNR)
Jon OggThese are some of the top analyst upgrades, downgrades and initiations seen from Wall St. research calls this Wednesday. Akorn Inc. (NASDAQ: AKRX) started as Buy with $18 target at BofA/ML. Broadcom Corp.…
Big Swings in Short Interest in Actively Traded Cult Stocks (ALU, BAC, BKS, DNDN, DMND, FB, FSLR, GMCR, GRPN, LNKD, NFLX, NOK, RSH, RIMM, SIRI, ZNGA)
Jon OggThe short interest in the actively traded cult stocks and also in some of the active low-priced shares can tend to be volatile, to say the least. We tracked some rather large moves…
Another CEO Out at RadioShack
RadioShack Corp. (NYSE: RSH) could not make that full turnaround under CEO Julian Day, and now it is losing Day’s replacement. Call it a firing or a resignation if you will, but the net…