Posted Nov 21st 2008 4:45PM by Jon Ogg
Filed under: Microsoft (MSFT), Wal-Mart (WMT), Gap Inc (GPS), NIKE, Inc'B' (NKE)
Today's late rally tied to breaking news of President-elect Obama's naming Timothy Geithner as Treasury Secretary for the next administration, but there was also an end of week bargain-buying hunt. Today was also options expiration. Whatever the real determination was, at least it was not yet another miserable day of relentless selling.
Here were today's unofficial closing bell levels:
Top Analyst Upgrades
Top Analyst Downgrades
Gap Inc. (NYSE: GPS) posted earnings at $0.35 EPS on revenue of $246 million. While other retailers are stinking up a storm, this compares to earnings of $0.30 EPS and revenue of $238 million last year. While sales did drop over 7% to $3.56 billion, analysts' estimates from Thomson Reuters (First Call) were only $0.34 EPS and $3.57 billion. Shares were up 21% at $11.62 right before the close.
Microsoft Corp. (NASDAQ: MSFT) hired Sean Suchter, the former head of search operations at Yahoo! This could give them the brains and engine behind the search business without ever having to pay Yahoo! a dime. Shares were up 8% at $19.01 shortly before the close.
Nike Inc. (NYSE: NKE) managed a show of force when times are tough. The sporting apparel giant raised its quarterly dividend payout by 9% to $0.25. Shares were up over 6% at $46.41 right before the close.
USG Corp. (NYSE: USG) shares surged after disclosing that Warren Buffett and Faifax invested a combined $400 million into the home building products maker. This was on top of their investments in the company in the past. Shares were up 24% at $7.04 shortly before the close.
Wal-Mart Stores Inc. (NYSE: WMT) rallied after the board of directors elected Mike Duke to replace Lee Scott as President and CEO of Wal-Mart, effective February 1, 2008. Shares were up almost 2% at $51.55 right before the close.
Posted Nov 20th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Microsoft (MSFT), General Electric (GE), PepsiCo (PEP), Market matters, Amgen Inc (AMGN), Suntech Power Hldgs ADS (STP)
Again, what is left to say? Nothing you haven't heard before. Jobless claims were the highest in over 15 years, earnings are at risk, the recession is here, and redemptions are still coming in droves. Sorry for the gloomy attitude.
Here are today's unofficial closing bell levels:
DJIA: 7,552.29 (-5.56%)
NASDAQ: 1,316.12 (-5.07%)
S&P 500: 752.48 (-6.71%)
Top Upgrades & Downgrades
Amgen Inc. (NASDAQ: AMGN) was down after it and Takeda's Millennium Pharma said that enrollment in a lung cancer trial was being suspended because of higher deaths in part of the control group over the placebo group. Shares were down over 6% at $50.13.
General Electric Co. (NYSE: GE) was slapped today on reports that the company is in talks with several private or sovereign wealth funds over capital. This stock put in a decade low, even though GE said it was not raising capital. Shares were down 11% at $12.80 right before the close.
Microsoft Corporation (NASDAQ: MSFT) filed a shelf registration statement that will allow it to sell debt instruments from time to time if it chooses, although no terms were given, no size is indicated, and no underwriters are mentioned. Shares were down 4% at $17.54 right before the close.
PepsiCo, Inc. (NYSE: PEP) reaffirmed its previously announced full-year 2008 core EPS guidance at an investor conference. Shares were down almost 4% at $50.17 right before the close.
Suntech Power Holdings (NYSE: STP) was hit after it posted $0.35 EPS vs. $0.42 estimates, and it guided next quarter and 2008 lower. The term "global warming" back to "climate change" right now even for the green investors. Shares were down 37% at $5.55 right before the close.
Posted Nov 19th 2008 4:21PM by Jon Ogg
Filed under: After the bell, Major movement, Earnings reports, Analyst upgrades and downgrades, Yahoo! (YHOO), General Motors (GM), Market matters, Citigroup Inc. (C), Federal Natl Mtge (FNM), Level 3 Communications (LVLT), S and P 500, DJIA
How many days, months, quarters, etc. will this ugly bear market continue? It is just as bad as buying dips on Internet stocks in 2000. The FOMC minutes gave a lowered economic expectation for 2009, like we didn't know that was coming. Housing starts were the worst on record, and now inflation is coming down so hard that deflation is the new damnation of the markets. Does it really matter what gets said anymore? No, it doesn't. Gee, were you even surprised that the deterioration into the close only picked up steam and the Dow shed 5% to close below 8,000 as the S&P decided to close at a five-year low? Sorry there is no good news, but this market is no longer a market.
Citigroup Inc. (NYSE:
C) is trading like it is no longer going to be around as its old self. This is truly ugly and unfair, but then again ... who has been rewarded for defending a financial stock? NO ONE. Shares were down 21% at $6.53 before the close.
E*TRADE Financial Corp. (NASDAQ:
ETFC) gave pretty decent numbers considering the current climate, yet it is getting crushed every day along with anything and everything else financial. This one was down 17%at $1.03 right before the close.
Continue reading Closing Bell: Dow closes below 8,000; C, ETFC, FNM, GM, LVLT, YHOO all got hammered
Posted Nov 18th 2008 4:17PM by Jon Ogg
Filed under: Hewlett-Packard (HPQ), Home Depot (HD), Anheuser-Busch Cos (BUD), Corning Inc (GLW)
Today was another one of those days where it was hard to tell if the market was up. The market gapped up and then posted a great morning rally, and then proceeded to give back most of the gains from noon until late in the afternoon. Housing was dismal, producer prices were down, and Bernanke and Paulson testified about the TARP usage.
Below are today's unofficial closing bell levels:
DJIA: 8,424.75 +151.17 +1.83%
NASDAQ: 1,483.27 +1.22 +0.08%
S&P 500: 859.12 +8.37 +0.98%
Analyst Calls:
Top Upgrades and
Top DowngradesAnheuser-Busch Companies Inc. (NYSE:
BUD) is no more..... The merger was completed today with InBev and the stock will now be European listed and be called Anheuser-Busch InBev. Shareholders of common stock receive $70.00 per share in cash as part of this $52 billion merger.
Corning Inc. (NYSE:
GLW) gave disappointing LCD panel guidance which was "below" the $1.1 to $1.2 billion in revenues previously offered and "at the low end of below" the $0.20 to $0.28 EPS range previously offered just a few weeks ago. Shares were down 7% right before the the close.
Continue reading Closing Bell: Was that a win or loss? BUD is no more; GLW, FSLR, HPQ, HD
Posted Nov 17th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Earnings reports, Market matters, Citigroup Inc. (C), Bank of America (BAC), Goldman Sachs Group (GS), Lowe's Cos (LOW), United Parcel'B' (UPS)
Today was a light volume and mixed trading day where there was no real feeling for the market being up or down. The G20 meeting yielded no major score for the markets and the Empire State manufacturing number for New York's region was the worst on record.
Below are the unofficial closing bell levels:
DJIA: 8,273.58 -223.73 -2.63%
NASDAQ: 1,482.05 -34.80 -2.29%
S&P 500: 850.75 -22.54 -2.58%
Top Analyst CallsBank of America Corp. (NYSE:
BAC) was one of the few public companies position that Warren Buffett's Berkshire Hathaway actually trimmed its stake in by about half during the last quarter. B of A shares were down over 6% at $15.32 shortly before the close.
Citigroup Inc. (NYSE:
C) didn't quite get the reaction it was hoping for. Vikram Pandit announced the new restructuring plan where the company will let go a total of about 50,000 jobs via attrition, asset sales, and layoffs. Citi announced other cost cutting measures as well. Shares were down almost 5% at $9.07 right before the close.
Continue reading Closing Bell: Dow ends 2.6% lower; BAC, C, GS drop, LOW, UPS gain
Posted Nov 13th 2008 4:20PM by Jon Ogg
Filed under: After the bell, General Electric (GE), Wal-Mart (WMT), Intel (INTC), Market matters, Sprint Nextel Corp (S), Urban Outfitters (URBN)
What a difference a few hours makes. Earlier today, we were in the process of seeing the stock market take out the lows of October. At that point the buyers ignored the 516,000 jobless claims from this morning and they started hitting their "buy" buttons on their keyboards. The gains came on strong in the afternoon, and most of them late in the afternoon. Here are the unofficial closing bell levels:
DJIA: 8,835.25 (+6.67%)
NASDAQ: 1,596.70 (+6.50%)
S&P 500: 911.28 (+6.92%)
52-Week Lows
Top Upgrades & Downgrades
General Electric Co. (NYSE: GE) had been down all day on rumors and fears about the dividend status, but shares came back and ended up 4.3% at $16.87.
Intel Corp. (NASDAQ: INTC) closed up 6.7% at $14.43 despite the company's warning last night. While warnings are somewhat expected, this was a severe drop of about 15% to revenues.
Sprint Nextel Corp. (NYSE: S) rose over 14% to $2.24 after the company announced that it was going to pursue employee buyouts for certain back office peronnel. Cutting costs seems to be popular in hard times, and buyouts do not create the unpleasantries inside an office like layoffs do.
Wal-Mart Stores Inc. (NYSE: WMT) managed to beat earnings, but the company said that currency issues were making it take guidance slightly under the mid-point for next quarter. Shares closed up over 4% at $54.39.
Urban Outfitters Inc. (NASDAQ: URBN) was up 9.5% at $16.66 right at the close today. Shares were down earlier after the company met earnings expectations, but strange options trades may have helped lift the stock.
Posted Nov 12th 2008 4:22PM by Jon Ogg
Filed under: After the bell, Earnings reports, Market matters, American Express (AXP), Las Vegas Sands (LVS)
Today was another one of those days where one could feel like the Duke Brothers from Trading Places. It was just another down day, yet the pain seemed to capture everything and everyone. The reasons markets are hurting are all the same as they have been, but such is life and expanding the TARP bailout money isn't helping.
Here are today's unofficial closing bell levels:
DJIA: 8,282.66 -411.30 -4.73%
NASDAQ: 1,499.21 -81.69 -5.17%
S&P 500: 852.32 -46.63 -5.19%
Major Stocks Breaking Under $10.00Short Sellers Move To Healthy CompaniesTop Analyst Upgrades & DowngradesAmerican Express Co. (NYSE:
AXP) fell again after negative headlines that it supposedly wants $3.5 billion in TARP funds. Although these are much of the same concerns as yesterday since becoming a bank holding company. Shares were down over 10% at $19.99 right before the close.
Las Vegas Sands (NYSE:
LVS) got to see insult added to injury. Moody's
cut its debt ratings further into junk status. Shares were down more than another 5% at $5.03 right before the close.
Continue reading Closing Bell: Carnage and mayhem, day 6; AXP, NAT, MELI, OWW, LVS
Posted Nov 11th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Starbucks (SBUX), Market matters, Chesapeake Energy (CHK), Las Vegas Sands (LVS)
Today was a strange day as Veteran's Day was observed by the bond market but not by the stock market. Stocks traded lower most of the day as the realization that even a Chinese stimulus package was not going to prevent a global recession. Here were today's unofficial closing bell levels:
DJIA: 8,693.96 (-1.99%)
NASDAQ: 1,580.90 (-2.22%)
S&P 500: 898.94 (-2.21%)
Analyst Upgrades
Analyst DowngradesChesapeake Energy Corp. (NYSE:
CHK) announced a joint venture in the Marcellus Shale and an international unconventional natural gas exploration alliance with StatoilHydro. Despite this supposedly being a win, shares were down 5% at $22.45 right before the close.
Focus Media Holding Ltd. (NASDAQ:
FMCN), a Chinese advertising agency for online, outdoor, and print ads, was hit extremely hard after posting light earnings and guiding estimates lower ahead. Shares were trading down over 45% at $8.74 right before the close.
Las Vegas Sands Corp. (NYSE:
LVS) announced the pricing of a full financing package to keep it within its debt covenants, but it did so at what appears to be a 40% discount on a fully diluted basis. Shares were trading down 35% at $5.22 right before the close.
Starbucks (NASDAQ:
SBUX) traded down after the high-end coffee retail destination posted light earnings and gave a warning for the base case for its fiscal year of Sept-2009. Shares were down 13% at $22.00 right before the close.
Tyco International Ltd. (NYSE:
TYC) posted earnings at $0.81 EPS, well above the $0.73 EPS estimates. Unfortunately, the company said the current environment was going to put pressure on earnings ahead, and that somehow managed to surprise the investor community. Shares were down 13% at $22.01 right before the close.
Posted Nov 10th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Major movement, Earnings reports, General Motors (GM), Market matters, Amer Intl Group (AIG), Nortel Networks (NT), United Parcel'B' (UPS)
Today started out looking like a great Monday after the Chinese announced a $586 billion stimulus package. Unfortunately, some of this was already in the works and many doubt its projected 8% to 9% growth for 2009 can stave off a recessionary environment ahead. Bonds closed early ahead of Veteran's Day, and are not trading Tuesday.
Here are the unofficial closing bell levels:
DJIA: 8,870.54 -73.27 -0.82%
NASDAQ: 1,616.74 -30.66 -1.86%
S&P 500: 919.21 -11.78 -1.27%
52-week lowsTop Upgrades & DowngradesSolar DowngradesAmerican Capital, Ltd. (NASDAQ:
ACAS) got killed after three major announcements: -$2.63 EPS, a $158 million acquisition, suspension of its dividend. Shares were down over 43% at $7.75 to a new multi-year low right before the close.
American International Group (NYSE:
AIG) got a larger lifeline as the old $85 billion package grew to $120+ billion and then to $150+ billion, with some $40 billion coming from the TARP funds at better terms. Shares came off with the market at the end of the day, but were still up 9% at $2.30 right before the close.
Continue reading Closing Bell: Dow ends down despite China; ACAS, AIG, GM, NT decline, UPS gains
Posted Nov 7th 2008 4:20PM by Jon Ogg
Filed under: Pfizer (PFE), Amer Intl Group (AIG), QUALCOMM Inc (QCOM), Wells Fargo (WFC)
Today's weak and horrible jobs numbers did not wreck the markets because they were actually a tad less horrible than yesterday's whisper numbers. It is amazing when 6.5% unemployment and -240,000 jobs to make 1.2 million jobs lost this year is GOOD NEWS.
Here are unofficial closing bell levels:
Dow 8,943.89 +248.10 (2.85%)
S&P 500 930.75 +25.87 (2.86%)
Nasdaq 1,647.40 +38.70 (2.41%)
52-Week LowsAmerican International Group (NYSE:
AIG) rose on multiple reports that federal officials are looking at ways to ease financial pressure on the insurance giant. Shares were up over 11% at $2.08 right before the close.
NVIDIA Corporation (NASDAQ:
NVDA) rose after its earnings came in well above plan considering that it had set the bar so low. Despite a revenue warning, value buyers had this graphics card giant trading up 13% at $8.61 right before the close.
QUALCOMM (NASDAQ:
QCOM) was a surprise gainer today after trading down this morning. The CDMA cellular chip and wireless standard giant missed earnings and guided estimates down on weakening cell phone sales trends. Shares were up almost 8% at $35.57 right at the close.
Pfizer Inc. (NYSE:
PFE) was under more pressure this morning, but rose throughout the trading day. Goldman Sachs downgraded this stock today down to a SELL rating, yet shares were uo almost 3% at $16.84 right before the close of the day.
Wells Fargo & Co. (NYSE:
WFC) was actually flirting with positive territory at 3:59. Considering it sold $11 billion in stock at $27.00, it is amazing that it was only down 0.1% at $28.72 in the seconds before that unofficial closing level.
Posted Nov 6th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Wal-Mart (WMT), Market matters, Wells Fargo (WFC)
Selling prevailed again today. We got more news on who the new cabinet members would be under Obama; we have an auto bailout in the works in D.C.; and the EU cut rates. Even the Bank of England came in with a rate cut much larger than expected at 150 basis-points. The economic numbers were again dismal, which is something we just have to get used to.
Here are today's unofficial closing bell levels:
DJIA: 8,696.19 -4.85%
NASDAQ: 1,608.70 -4.34%
S&P 500: 905 -5.01%
52-week lows
Top Analyst Upgrades
Top Analyst Downgrades
Charles River Laboratories International Inc. (NYSE: CRL) dropped the ball that it was cutting its guidance for 2008. The trends we saw in early August appear to be coming to a crashing halt. This stock was down 21% at $26.60 right before the close.
Pepco Holdings, Inc. (NYSE: POM) did fairly well considering the company priced a secondary offering at $16.50 per share for 14 million shares. Shares were down only 2.6% at $17.12 right before the close.
Continue reading Closing Bell: Market slide continues; CRL, THQI, WFC all down
Posted Nov 5th 2008 4:17PM by Jon Ogg
Filed under: After the bell, IAC/InterActiveCorp (IACI), Sprint Nextel Corp (S)
Those who were hoping for an Obama victory lap on the floor of the NYSE only got their toes bitten by bears. Weakening economic data and the market preparing for very weak retail sales numbers took away any shot of major gains today, and you can always blame major profit taking after a multi-day rally phase we saw.
DJIA: 9,139.27 -486.01 -5.05%
NASDAQ: 1,681.64 -98.48 -5.53%
S&P 500: 952.77 -52.98 -5.27%
Top Analyst UpgradesTop Analyst DowngradesArcelor Mittal (NYSE:
MT) was slapped after the global steel giant gave guidance for EBITDA in Q4 at $2.5 to $3.0 billion. This is being taken as an earnings warning with 2008 expectations being implied at roughly $24.2 billion as being more than 10% under consensus expectations. Shares were down 20% at $25.30 on above average volume shortly before the close.
Greenhill & Co., Inc. (NYSE:
GHL) was down after it
filed to sell up to 3.5 million shares of common stock in a secondary offering. Shares were down over 11% at $61.61 shortly before the close.
Continue reading Closing Bell: Dow closes down 5%; MT, GHL, HUN, IACI, S
Posted Nov 4th 2008 4:20PM by Jon Ogg
Filed under: After the bell, Market matters, Archer-Daniels-Midland (ADM), CIT Group (CIT), MasterCard Inc'A' (MA), Valero Energy (VLO)
We don't have any official results from the presidential and congressional elections as of yet, but traders decided to keep buying stocks today despite concerns of what an Obama administration would do to equity investors. Regardless of the bad economic data, it looks and feels as though you can make actual analysis beyond the next 30-minute period again. Even a $6.00+ rally in oil prices after the Saudis cut production did not stop stocks from rallying. Here are today's unofficial closing bell levels:
DJIA: 8,625.28 (+3.28)
NASDAQ: 1,780.12 (+3.12%)
S&P 500: 1,005.73 (+4.08%)
Top Analyst Upgrades
Top Analyst Downgrades
Archer-Daniels-Midland Co. (NYSE: ADM) surged after the agricultural giant blew past earnings estimates and it is being rewarded after losing so much ground this year. Shares were up 14% at $24.13 right before the close.
CIT Group Inc. (NYSE: CIT) saw its shares surge as one of the top percentage gainers today after the company announced that it has completed a $500 million financing facility from Wells Fargo. In the final minutes of trading, shares were up over 32% at $6.00 on three-times normal volume.
Continue reading Closing Bell: Market rallies on Election Day; ADM, CIT, MA, VLO up, FCSX down
Posted Nov 3rd 2008 4:18PM by Jon Ogg
Filed under: After the bell, Sirius Satellite Radio (SIRI), Market matters, Boeing Co (BA), Whole Foods Market (WFMI), Presidential elections
Crummy economic data from October ISM Manufacturing and September Construction Spending didn't manage to kill overseas gains that led to more mixed rallying in U.S. equity markets. Ahead of tomorrow's elections, it seems that the markets are just going into a holding pattern. U.S. auto sales were atrocious.
Here are today's unofficial closing bell levels:
DJIA: 9,319.83 -5.18 -0.06%
NASDAQ: 1,726.33 +5.38 +0.31%
S&P 500: 966.30 -2.45 -0.25%
Top Analyst UpgradesBoeing Co. (NYSE:
BA) had its 27,000 union machine workers start returning to their jobs this weekend after a 57-day labor strike that shut down production of its jet manufacturing operations. The stock was up 1.3% at $53.12 in today's final minutes.
SIRIUS XM Radio Inc. (NASDAQ:
SIRI) was down almost 9% at $0.30 right before the close. A class action suit was filed by a holder who has joined with over 500 shareholders to oust management and to protect holders by keeping the company from being taken private or from a reverse split.
Continue reading Closing Bell: Stocks end mixed ahead of election; BA, SIRI, STEM, VSE, WFMI
Posted Oct 31st 2008 4:09PM by Jon Ogg
Filed under: Sun Microsystems (JAVA), Electronic Arts (ERTS), Burlington Northern Santa Fe (BNI)
Today was a busy economic day with data, but the selling in Asia as a "sell the news" reaction from the first Japan rate cut in seven years should have ruled the roost. Employment costs came in at 0.7% as expected, and personal income and spending showed no surprises. The markets also ignored a weak Chicago purchasing managers reading. This was a horrible month, but the DJIA ended up roughly 1,000 points higher from the close last Friday.
Below are today's unofficial closing bell levels:
Dow 9,325.01 +144.32 (1.57%)
S&P 500 968.75 +14.66 (1.54%)
Nasdaq 1,720.95 +22.43 (1.32%)
52-WEEK LOWS
Top Analyst Upgrades
Top Analyst Downgrades
Burlington Northern Santa Fe Corp. (NYSE: BNI) was after an SEC Filing noted that Warren Buffett's Berkshire Hathaway bought an additional 825,000 shares of common stock and now holds a beneficial ownership of 64,610,418 shares of common stock. Shares were up 2.7% at $88.93 right before the close today.
DivX Inc. (NASDAQ: DIVX) traded higher by over 6% after the online media player company beat its earnings expectations. The company also raised its fiscal non-GAAP earnings range to $0.58 to $0.60 from a prior range of $0.52 to $0.58, but lowered its revenue guidance because of product expansion and slower spending. Shares were up over 25% at $6.99 right before the close.
Continue reading Closing Bell: A great end to horrible October
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General Motors (GM), Ford (F) going to $1
Average U.S. gasoline price falls to $1.99 and is likely to drop more
The RIM BlackBerry Storm launches on Verizon Wireless to mediocre fanfare
