Posted Aug 7th 2008 4:05PM by Jon Ogg
Filed under: Wal-Mart (WMT), Citigroup Inc. (C), American Express (AXP), Amer Intl Group (AIG)
The bear came back today after a long nap. Financial stocks led the DJIA lower today on three key pieces of news, not at all tied to each. Some may call today profit taking, some might be disappointed that the ECB and UK didn't give any concessions on overnight interest rates. Oil was up over $1.00 and back over the $120 mark. But no matter how you call the day, it looked like another day of Chinese Water Torture in another bear market.
Below are today's unofficial closing bell levels:
D.J.I.A. 11,431.19 -224.88 -1.93%
NASDAQ 2,355.73 -22.64 -0.95%
S&P 500 1,266.14 -23.05 -1.79%
10YR T-Bond 3.935% -0.113%
52-Week LowsTop Analyst UpgradesTop Analyst DowngradesAmerican Express Company (NYSE:
AXP) was another huge loser after Moody's put the credit card operation debt on negative credit watch. As that affects some $89 Billion in securities and deposits, you know this makes people nervous even if the debt ratings agencies have proven to be as worthless as gold to a dead man. Shares were down almost 5% at $36.06 in today's final minutes.
Continue reading Closing Bell: Dow sinks almost 2%, and even the Olympics can't save financials from water torture
Posted Aug 6th 2008 4:14PM by Jon Ogg
Filed under: After the bell, Major movement, Microsoft (MSFT), Market matters, Whole Foods Market (WFMI), EMC Corp (EMC), Kraft Foods'A' (KFT)
Despite the fact that the markets were lower much of the day, they eventually managed to on the session higher. This was a win considering that profit takers and short sellers weren't able to hammer down the market after such large gains Tuesday. Oil fell again to levels under $119.00.
Here are today's unofficial closing bell levels:
DJIA 11,655.42 (+39.65)
S&P 500 1,289.38 (+4.50)
NASDAQ 2,377.87 (+28.04)
10YR T-BOND 4.048% +0.0410
Top Upgrades & DowngradesEMC Corp. (NYSE:
EMC) shares were down under 1% right before the close today, although they had been down 5% after some
rumors that Cisco was interested in the company were put to sleep.
Kraft Foods Inc. (NYSE:
KFT) is continuing to see
options speculation build in the stock. Shares were mostly flat today, but options volume was huge again and is up 10% in seven trading sessions.
Continue reading Closing Bell: Dow manages a gain; PCLN flops, MSFT rises
Posted Aug 5th 2008 4:14PM by Jon Ogg
Filed under: Sirius Satellite Radio (SIRI), Procter and Gamble (PG), Lehman Br Holdings (LEH)
Today's markets started out strong and got stronger.
If you were a conspiracy theorist you might even make a crack noting that Wall Street had already seen the dovish FOMC comments which signaled that rate hikes are not a certainty
until after the election. Throw in a substantial drop in oil to new recent lows of under $119.00 per barrel, and the rest is all gravy.
Here are today's unofficial closing bell levels:
D.J.I.A. 11,615 (+331)
S&P500 1,283.28 (+34)
NASDAQ 2,347.36 (+62)
10YR T-NOTE 4.007% (+0.035%)
52-Week Lows
Top Analyst DowngradesTop Analyst Upgrades
Archer-Daniels Midland Company (NYSE:
ADM) saw shares down over 5% in today's final minutes. Despite the stock being close to new fresh lows, traders were very unenthusiastic after the company missed earnings expectations.
Continue reading Closing Bell: Dow up a whopping 331; ADM falls, Lehman rises
Posted Aug 4th 2008 4:05PM by Jon Ogg
Filed under: Commodities, Oil
The day may have closed down in negative territory for stocks, but even watching it all day didn't give one any major feel for the market's direction into the close. Today's PCE Inflation index came in at +4.1%, although traders have discounted this data as energy prices and even some food prices have started coming down from the May to June highs. Oil put in a serious drop to briefly under $120 and now traders are calling for lower levels rather than higher. You could throw up literally 5 issues affecting oil prices, but you might as well call it "air out of the bubble" rather than anything.
Here are today's unofficial closing bell levels:
DJIA 11,283.74 (-42.58)
S&P500 1,249.01 (-11.30)
NASDAQ 2,285.17 (-25.79)
10YR T-NOTE 3.9720% (+0.024%)
52-WEEK LOWSTOP ANALYST UPGRADESTOP ANALYST DOWNGRADESHumana Inc. (NYSE:
HUM) sent most health insurers higher after it posted $1.24 EPS versus a prior guidance of $1.15 to $1.20 EPS and above $1.18 estimates. Shares were up over 5% to $47.00 in today's final minutes.
Continue reading Closing Bell: Bears win, but cubs eat baby bulls
Posted Jul 31st 2008 4:02PM by Jon Ogg
Filed under: Motorola (MOT), Exxon Mobil (XOM), Akamai Technologies (AKAM)
You could have tossed a coin today and come up with the same predictions for if the market was going to close up or down. The 1.9% GDP report was lighter than the 2.2% estimates, but despite feeling like a recession, it isn't formally a recession. Equities headed south as did oil prices by more than $2.00 per barrel. Investors chose to focus on the bad data today and take profits. The bears came roaring back by the close.
Here are today's unofficial closing bell levels:
DJIA 11373.38 (-212.91)
S&P500 1266.96 (-17.30)
NASDAQ 2325.55 (-4.17)
10YR T-NOTE 3.979% (-0.069%)
KEY ANALYST DOWNGRADES
Akamai Technologies Inc. (NASDAQ:
AKAM) was today's big loser in tech, media, telecom. The company beat estimates last night but guidance was a few percentage points light and the investment community still demands growth here. Shares were down by 26% to a new 52-week low at $23.10 in the final minutes.
Continue reading Closing bell: Bears win, non-recession GDP fails to impress
Posted Jul 30th 2008 4:16PM by Jon Ogg
Filed under: After the bell, Earnings reports, Comcast Cl'A' (CMCSA), Electronic Arts (ERTS), Garmin Ltd (GRMN)
Remember oil? It rose almost $5.00 today after the inventories release and on reports that Olmert was resigning as Prime Minister in Israel in two months. Traders guessed that Israeli-Iran uncertainty could be back in play. Despite many negative earnings stories, investors decided to put their bull hats on.
Below are today's unofficial closing bell levels:
DJIA 11,583.93 (+186.37)
S&P500 1284.19 (+21.00)
NASDAQ 2329.72 (+10.10)
10YR T-Note 4.048% (+0.004%)
52-Week Lows
Top Analyst Upgrades
Top Analyst Downgrades
Comcast Corp. (NASDAQ:
CMCSA)
posted EPS a tad light, but many used EBITDA in their analysis. Shares rose throughout the day and were up over 5% at $20.20 in today's final minutes.
Continue reading Closing Bell: Bulls stay strong despite oil's rise
Posted Jul 29th 2008 4:08PM by Jon Ogg
Filed under: Sirius Satellite Radio (SIRI), Sony Corp ADR (SNE), Merrill Lynch (MER), Palm Inc (PALM), Kraft Foods'A' (KFT)
Today was really about watching the oil ticker and seeing crude break down under the $124.00 mark. OPEC's president said in the right circumstances that oil could go back under $80.00. Median home prices fell almost 16% in May. The US's failed trade talks with China at the W.T.O. hardly mattered. It even looked like people on Wall Street were in a good mood today as the dollar hit a monthly high. After a near $3.00 drop to under $122.00 you have to wonder.... Can gasoline
hit $3 again this year?
Here are today's unofficial closing bell levels:
DJIA 11,395.12 (+264.04)
S&P500 1262. 94 (+28.57)
NASDAQ 2319.62 (+55.40)
10-YR T-NOTE 4.044% (+0.026%)
52-WEEK LOWSTop Analyst UpgradesTop Analyst DowngradesKraft Foods Inc. (NYSE:
KFT) saw another gain of 2% to $31.45 in the final minutes after yesterday's earnings gains. But the key to today's move besides the market was
massive stock options trading.
Continue reading Closing Bell: Stock traders finally love the oil ticker
Posted Jul 28th 2008 4:15PM by Jon Ogg
Filed under: Sirius Satellite Radio (SIRI), Verizon Communications (VZ), Kraft Foods'A' (KFT)
Today was another day of strong selling, led by financial stocks and by earnings more than anything major. On last look oil was up more than $1.00 to almost $125.00 per barrel. Today is a reminder that a low valuation alone is not a reason to buy.
Here are today's unofficial closing bell levels:
DJIA 11131.56 (-239.13)
S&P500 1234.75 (-23.01)
NASDAQ 2264.22 (-46.31)
10YR T-NOTE 4.018 (-0.093%)
52-WEEK LOWS (huge list)
TOP ANALYST UPGRADES
TOP ANALYST DOWNGRADES
Kraft Foods Inc. (NYSE:
KFT) managed to show its first substantial earnings beat. It also raised guidance on planned price hikes. Shares were up 5.5% in today's final minutes at $31.00.
Continue reading Closing Bell: Bulls feel pretty roughed up
Posted Jul 25th 2008 4:31PM by Jon Ogg
Filed under: After the bell, Google (GOOG), Juniper Networks (JNPR), Crocs Inc (CROX), DJIA, Delta Air Lines (DAL)
If you were looking for another hard day of profit taking on a summer Friday, the markets escaped the hangman. A barely positive durable goods of big ticket items was enough to send the pessimists to the showers and gave the bulls a little more ammo. Throw in an oil ticker showing a drop of more than $2.00 to almost $123.00 per barrel and that's all that was needed. Look at bond yields and you'll see we gave back almost all of yesterday's move.
Here are today's unofficial closing bell levels:
DJIA 11368.33 (+19.05)
S&P500 1257.65 (+5.11)
NASDAQ 2310.53 (+30.42)
10YR T-NOTE 4.111% (+0.095%)
TOP ANALYST UPGRADESTOP ANALYST DOWNGRADES
Select Short Sales DataArch Coal (NYSE:
ACI) tripled earnings posted EPS of $0.78 vs. $0.64 estimates. The stock was up more than 3% in pre-open but was up almost 9% at $55.45 in the final minutes of the day.
Crocs Inc. (NASDAQ:
CROX) led the garbage stocks after a very
ugly earnings warning last night. It now sees sales for all of 2008 modestly lower than 2007 and is now only targeting a break-even result for 2008. Retailers were noted as keeping inventory re-orders at low levels, which is hard to blame them considering the ugly shoe fad has already started its workdown. Shares were down 44% at $4.99 after shares had already sold of more than 80% from 52-week highs.
Continue reading Closing Bell: The bears wore their Crocs to work
Posted Jul 24th 2008 4:14PM by Jon Ogg
Filed under: Microsoft (MSFT), Amazon.com (AMZN), Sirius Satellite Radio (SIRI), Federal Natl Mtge (FNM), QUALCOMM Inc (QCOM), Level 3 Communications (LVLT)
If you were getting used to the bulls running the show, the bears whispers of "Remember us?" turned much louder today. If you were looking for the day we finally got profit taking after a monster rise in financial stocks, it came. Weak housing data was said to be one of the key issues for the market, but the more than 400,000 weekly jobless claims filed was much worse than expected. Oil didn't skyrocket but it did at least catch a bid today and oil was back up to over $125.00 per barrel late in the day. If you want a big figure, PIMCO's Bill Gross said that total financial
writedowns could see $1 Trillion.
Here are today's unofficial closing bell levels:
DJIA 11354.49 (-277.89)
S&P500 1253.12 (-29.07)
NASDAQ 2280.11 (-45.77)
10YR T-NOTE 4.016% (-0.132%)
52-WEEK LOWSTOP ANALYST UPGRADES
TOP ANALYST DOWNGRADESAmazon.com, Inc. (NASDAQ:
AMZN) saw a mega-surge after the market decided that its above estimate earnings and somewhat conservative guidance was to match the environment rather than to be any red flag. Shares were up a sharp in today's final minutes.
Continue reading Closing Bell: Profit taking inside a tornado
Posted Jul 23rd 2008 4:21PM by Jon Ogg
Filed under: After the bell, Sirius Satellite Radio (SIRI), Market matters, AT and T (T), Bank of America (BAC), Costco Wholesale (COST)
Today we saw another market gain, but several key stocks gave back some recent gains. The oil inventories report as well as reports Hurricane Dolly only took down a max of 8% of Gulf of Mexico and nearby production, helped lower oil prices over $3.00 to under $125.00 per barrel. Today was rather light on the economic front so the market was led higher mostly thanks to earnings from DJIA components. Longer-term rates rose on Fed comments today calling for rates to rise sooner rather than later, although that was independent and slightly different than the actual Beige Book comments.
Here are today's unofficial closing bell levels:
DJIA 11632.70 (+30.30)
S&P500 1282.05 (+5.05)
NASDAQ 2325.88 (+21.92))
10YR T-Note 4.148 (+0.05%)
TOP ANALYST UPGRADESTOP ANALYST DOWNGRADES52-WEEK LOWSAT&T Inc. (NYSE:
T) was the
winner of DJIA components after reporting earnings this morning, particularly since it has lost nearly one-third of its value. Shares were up 4% at $33.11 in today's final minutes.
Continue reading Closing Bell: Earnings keep gains coming
Posted Jul 22nd 2008 4:16PM by Jon Ogg
Filed under: Apple Inc (AAPL), Sirius Satellite Radio (SIRI), Caterpillar (CAT), American Express (AXP), Wachovia Corp (WB), UAL Corp (UAUA)
Hank Paulson led the charge this morning talking about the need and credibility of the GSE's. Oil was up for a while but after Tropical Storm Dolly headed further south than the oil and gas infrastructure that locked in heavy oil selling. The major focus continues to be earnings and financial stocks in particular. Below are today's
unofficial closing bell levels:
DJIA 11601.60 (+134.26)
S&P500 1276.80 (+16.80)
NASDAQ 2303.96 (+24.43)
10YR T-Note 4.097 (+0.03%)
52-Week Lows
Top Analyst CallsAmerican Express Company (NYSE:
AXP) was one of the more poor financial stocks today after the company
choked on earnings last night. It is also facing deteriorating business despite it being thought of as the highest quality credit card around. Shares were down 9.2% at $37.13 in today's final minutes.
Continue reading Closing Bell: Market defies cautious earnings
Posted Jul 21st 2008 4:14PM by Jon Ogg
Filed under: Yahoo! (YHOO), Bank of America (BAC), Whole Foods Market (WFMI), Merck and Co (MRK), Genentech Inc (DNA)
Today was light on the economic front as far as impact numbers. The June leading economic indicators were down at -0.1%, and the May gain of +0.1% was revised lower to -0.2%. This shows little argument for a strengthening economy. Oil showed how it can still rise as tropical storm Dolly is in the Gulf of Mexico and no deal was reached with Iran, with prices back above $131.00 per barrel. Today was looking like a gain at the start, but the market slid as the day went on.
Below are today's unofficial closing bell index levels:
DJIA 11.467.67 (-28.90)
S&P 500 1259.72 (-0.96)
NASDAQ 2279.69 (-3.09)
10 YR T-NOTE 4.067% (-0.014%)
52-WEEK LOWSTop Analyst Calls Bank of America Corp. (NYSE:
BAC) showed a more than 4.6% gain at $28.80 in today's final minutes after the earnings report this morning came in far above lowered expectations. This stock is now up over 50% in a few days.
Continue reading Closing Bell: Bank earnings and major biotech fail to win over oil and profit taking
Posted Jul 18th 2008 4:13PM by Jon Ogg
Filed under: Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Sirius Satellite Radio (SIRI), Citigroup Inc. (C)
Today might have been one of the more boring options expiration dates. If you pretend that technology stocks weren't a part of the market, today was rather stable considering the major bounces we have seen. Oil stayed under $129.00 per barrel, which didn't give the bears much meat to chew on. We had essentially no government economic data today. Here are today's unofficial closing levels:
Apple Inc. (NASDAQ:
AAPL) is set report earnings after the close of trading. Read a
FULL EARNINGS PREVIEW. Shares of Apple were down over 3% at $166.10 in today's final minutes of trading.
Continue reading Closing Bell: Great recovery continues, except for tech
Posted Jul 17th 2008 4:01PM by Jon Ogg
Filed under: eBay (EBAY), Nokia Corp. (NOK), JPMorgan Chase (JPM), ValueClick Inc (VCLK)
The bulls have scored another coup and laid the bears out on the streets just like it was
Pamplona. Yep, there's no "Running of the Bears" after all. Oil rolled over for a third day and a more than $4.00 drop took oil futures back under $130.00. Financial stocks again lead the way on earnings and on a government mandated short squeeze. This may just be the start, or it could just be sharp short covering in stocks. One thing is for sure, there's plenty of good news and bad news to argue about.
Below are the unofficial closing bell levels for major index levels:
DJIA 11,429.48 +190.20 +1.69%
S&P 500 1,258.50 +13.14 +1.06%
NASDAQ 2,312.00 +27.15 +1.19%
10YR T-NOTE 4.038% (+0.104%)
52-WEEK LOWS
Top Analyst Upgrades Top Analyst DowngradeseBay Inc. (NASDAQ:
EBAY) was one of the losers today after the company posted $0.43 EPS (non-GAAP) and $2.2 Billion in revenues, but mixed guidance ahead took shares of the online auction giant down by over 14% by the end of today in the final minutes to a 52-week low of $24.12.
Continue reading Closing Bell: Bears and oil traders trampled in Pamplona
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Closing Bell: Dow sinks almost 2%, and even the Olympics can't save financials from water torture
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