Investing

24/7 Wall St. Closing Bell (TWX, DIS, PEP, KBH, FSLR, PLOW, FCEL, NNBR, VELT, HTH, ODC, MIDD, TODU, PCBC, ANTH, TZYM, CDTI)

Paul Ausick

US markets opened mixed this morning as there was not a big piece of news to drive investors in any particular direction. The Greek debt swap deal triggered a credit event and a payout to CDS holders last Friday (more coverage here) and new Greek bonds went on sale this morning a extraordinarily high yields (more coverage here

). China reported a trade deficit last month, which weighed on Asia markets prior to this morning’s opening bell. Even the latest budget deficit report from the US Treasury didn’t get much of a reaction (more coverage here). Crude oil is lower today on the weak news from China, with WTI crude settling at $106.34/barrel, down -1%, and Brent crude trading at $125.38/barrel, down -0.5%. Gold settled at $1,699.80/ounce, down -0.7%, its first losing session following three straight winners.

The unofficial closing bells put the DJIA up nearly 38 points to 12,959.71 (0.29%), the NASDAQ fell nearly 5 points (-0.16%) to 2,983.66, and the S&P 500 rose 0.02% or less than 1 point to 1,371.09.

There were several analyst upgrades and downgrades today, including Time Warner Inc. (NYSE: TWX) cut to ‘neutral’ at Janney Capital; Walt Disney Co. (NYSE: DIS) raised to ‘buy’ at Janney Capital; Pepsico Inc. (NYSE: PEP) reiterated as ‘buy’ at Gabelli; KB Home (NYSE: KBH) raised to ‘overweight’ at Barclays; and First Solar Inc. (NASDAQ: FSLR) maintained as ‘hold’ by target price cut to $30 at Canaccord Genuity.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: Douglas Dynamics Inc. (NYSE: PLOW) is up 1.7% at $13.16; Fuel Cell Energy Inc. (NASDAQ: FCEL) is up 10% at $1.65; NN Inc. (NASDAQ: NNBR) is down -7.2% at $7.83; Velti plc (NASDAQ: VELT) is up 24.6% at $12.24; Hilltop Holdings Inc. (NYSE: HTH) is up 2.4% at $8.41; Oil-Dri Corporation of America (NYSE: ODC) is up 1.6% at $20.25; and Middleby Corp. (NASDAQ: MIDD) is up 5% at $98.21 after posting a new 52-week high today of $101.72.

Other standouts from today include the following stocks:

Tudou Holdings Ltd. (NASDAQ: TUDO) is up 155% at $39.26 after posting a new 52-week high of $42.81. The Chinese online video company is merging with competitor Youku Inc. (NYSE: YOKU). More coverage here.

Pacific Capital Bancorp (NASDAQ: PCBC) is up 57% at $45.03 after posting a new 52-week high of $45.45 earlier this morning. The bank holding company is being acquired by Union Bank for $1.5 billion ($46/share).

Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) is down more than -45% at $3.51 after posting a new 52-week low of $3.08 earlier this morning. The drug company has unexpectedly cancelled a heart drug trial because the drug does not work.

Tranzyme Inc. (NASDAQ: TZYM) is down nearly -42% at $2.98 after posting a new 52-week low of $1.68 earlier. The company’s bowel drug failed a phase III drug trial.

Clean Diesel Technologies Inc. (NASDAQ: CDTI) is up about 64% at $5.09. The biofuel maker reported a net profit for the fourth quarter, where a net loss was expected.

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

  • 7:30 a.m. – National Federation of Independent Businesses small business confidence index
  • 8:30 a.m. – Retail sales
  • 10:00 a.m. – Business inventories
  • 11:30 a.m. – 4-week Treasury bill auction
  • 1:00 p.m. – 10-year Treasury note auction
  • 2:15 p.m. – Federal Reserve FOMC meeting announcement

Paul Ausick