Investing

24/7 Wall St. Closing Bell (AMZN, AAP, CSCO, NOK, SD, CSC, ENS, FRO, FF, FTK, QUAD, GMCR, IL, HFC, P, LEAP)

Markets opened higher today, and after some backsliding in the mid-morning, pulled ahead again by mid-afternoon. Crude oil closed up more than 2% at $97.78/barrel and gold was down by about -1.8%, at about $1,759/ounce. The EIA natural gas inventory report showed a bigger inventory gain than expected, pushing natural gas prices around all day, before closing at $3.65/thousand cubic feet. Commodities also traded lower today, led by wheat, which was off by about -3.5%, at $6.20/bushel. On the NYSE, advancing stocks led decliners by about 2:1.

The unofficial closing bells put the DJIA up nearly 113 points to 11,893.86 (0.96%), the NASDAQ rose 3.5 points (0.13%) to 2,625.15, and the S&P 500 rose 0.86% or more than 10 points to1,239.70.

There were several analyst upgrades and downgrades today, including Amazon.com (NASDAQ: AMZN) was added to Zack’s ‘Strong Sell List’. Other changes included Advance Auto Parts Inc. (NYSE: AAP) cut to ‘neutral’ at Credit Suisse; Cisco Systems Inc. (NASDAQ: CSCO) raised to ‘buy’ at Deutsche Bank and Citigroup and target price raised to $26 at Credit Suisse; Nokia Corp. (NYSE: NOK) maintained at ‘hold’ with a $7.50 price target at Canaccord Genuity; SandRidge Energy, Inc. (NYSE: SD) cut to ‘neutral’ at Goldman Sachs; and Computer Sciences Corp. (NYSE: CSC) cut to ‘underweight’ at JPMorgan.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: EnerSys (NYSE: ENS) is up more than 18%, at $26.09; Frontline Ltd. (NYSE: FRO) is up nearly 18%, at $6.05; FutureFuel Corp. (NYSE: FF) is up about 9.5%, at $11.44; Flotek Industries, Inc. (NYSE: FTK) is up more than 13%, at $8.41; Quad Graphics, Inc. (NYSE: QUAD) is down -24%, at $13.90; and Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is down more than -41%, at $39.44.

Several other standouts from today are as follows…

IntraLinks Holding, Inc.) is down nearly -13.5%, to $4.76, a new 52-week low. The company’s stock was downgraded yesterday from ‘buy’ to ‘hold’ following a disappointing earnings report and another 52-week low earlier this week.

HollyFrontier Corp. (NYSE: HFC)  is down  more than -3.5%, at $29.38. The company has sold some assets to Holly Energy Partners LP (NYSE: HEP). Because HFC owns 44% of HEP, the deal’s long-term effects could reduce HFC’s revenues somewhat.

Pandora Media, Inc. (NYSE: P) is down about -4.5%, at $14.70. There’s no news, other than that there is so much competition in the streaming music business that it’s tough to pick a winner. Sirius XM Radio Inc. (NASDAQ: SIRI) is a current favorite following its turnaround.

Leap Wireless International Inc. (NASDAQ: LEAP) is up more than 6%, to $8.84. The company may be willing to sell part of its valuable spectrum assets. Shares are also likely to be getting some help from T-Mobile USA’s report today that it has added subscribers.

Here are some things on tap for Friday. It’s Veteran’s Day, so banks and the bond market are closed though the stock market is not. Federal Reserve Bank governor Janet Yellen and San Francisco Fed president John Williams are giving speeches tomorrow afternoon. We have noted the following events (all times Eastern):

  • 9:55 a.m. – Reuters/University of Michigan consumer sentiment index.

Paul Ausick

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