Facebook To Debut As Apple Drags Markets Lower
Stocks sold-off on an action packed Thursday. Facebook stole the headlines, pricing its IPO as markets closed. Also grabbing headlines was JPMorgan Chase, which continues to suffer from those huge trading losses, as CEO Jamie Dimon was called by a Senate Committee to testify. Gold rallied as Treasury yields fell to record lows, while over in Europe the prospects of a bank run in Spain spooked investors.
05/17/2012 05:55:56pm
Analyst Moves: CHS, HSY
Chico's (CHS) today had its estimates raised by Oppenheimer (OPY) as the firm expects recent positive
05/17/2012 05:50:00pm
Analyst Moves: ANF, GDOT
Abercrombie & Fitch (ANF) was downgraded today by Wells Fargo (WFC) to market perform, due to
05/17/2012 05:40:01pm
Daily Market Wrap: May 17, 2012
It was another down day for the markets with stocks tumbling to session lows by midday and then
05/17/2012 05:40:01pm
Silver Wheaton's Worth $37 Despite Slump In Silver Prices
Silver Wheaton saw its stock slump after earnings Monday. The company reported a 25% increase in revenues and net income rose by 20% f0r the first quarter. In the past month, the stock was heavily battered as rising concerns about euro zone sent precious metal prices south. Silver Wheaton, the world?s largest silver streaming company, purchases silver from mining companies that produce silver as a by-product. Competitors like Silver Standard Resources, Pan American Silver, Bear Creek Mining Corporation and Endeavor Silver have also seen huge selling in their stocks.
05/17/2012 05:39:38pm
Daily Wrap: 5/17/2012
It was another down day for the markets with stocks tumbling to session lows by midday and then continued to fall, amid concerns over the situation in Greece.
05/17/2012 04:51:16pm
Daily Dividend Report: MMC, MO, POT, YUM, WMB
Marsh & Mclennan Companies Incorporated (MMC) announced its quarterly dividend of 23 cents per share, an increase of about 5% over its prior dividend in April of 22 cents. The dividend is payable on August 15 to shareholders of record on July 11.
05/17/2012 04:32:07pm
Analyst Moves: ANF, GDOT
Abercrombie & Fitch (ANF) was downgraded today by Wells Fargo (WFC) to market perform, due to lower comp sales trends.
05/17/2012 04:31:02pm
Analyst Moves: CHS, HSY
Chico's (CHS) today had its estimates raised by Oppenheimer (OPY) as the firm expects recent positive trends to continue and have a positive impact on earnings. A perform rating was issued.
05/17/2012 04:28:40pm
NetSpend Holdings Gaining More Customers For Its Reloadable Pre-Paid Debit Cards
NetSpend Holdings (NTSP) isn?t just a provider of pre-paid cards anymore. The Texas-based company has grown into a broader financial-service enterprise that serves a number of the credit and money needs of some 60 million consumers in the U.S., who either don?t have bank accounts or don?t qualify for the traditional credit cards like Visa (V), MasterCard (MC) or American Express (AXP).
05/17/2012 03:57:08pm
Hedge Fund Stars Gundlach and Einhorn Have a Sixth Sense --They See Dead Countries
At the Ira Sohn conference Wednesday, rock star investors gave their best picks to a well-dressed group of 2000 attendees from hedge funds and mutual funds around the world. At the 17th Annual Conference, where proceeds go to fund pediatric cancer research, portfolio managers hung on every word of the billionaire speakers. No wonder trades are highly correlated. The conference highlighted red flags from the bearish speakers.
05/17/2012 03:46:06pm
Aeropostale's Earnings Will Have A Hard Time Impressing This Market
Teen apparel retailer Aeropostale is scheduled to announce its Q1 fiscal 12 results on May 17 after the close. Earlier the company had reported solid Q1 sales results, with an increase of 6% in net sales and 2% in comparable sales for the quarter. See: Aeropostale Shows Come Back Intact, Headed To $23
05/17/2012 03:24:55pm
Thursday 5/17 Insider Buying Report: KDN, WAC
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
05/17/2012 03:10:53pm
Wal-Mart Shows A Pulse And It's Thumping
Wal-Mart has shown that it?s heart is beating vigorously in the first quarter of 2012. (See, "Wal-Mart Shifts Focus From Bribery Investigation To Impressive Q1 Profit, Sales."
05/17/2012 03:04:30pm
No Hassle For Bernanke: New Fed Governors Won't Limit The Chairman
The Senate approved the appointment of two new Federal Reserve Board governors on Thursday. Jeremy Stein and Jerome Powell, nominated by the Obama Administration, will probably ensure the continuity of monetary policy, according to Nomura, as both academics are expected to vote in line with the Chairman on key issues.
05/17/2012 02:30:19pm
Baker Hughes Relies On Oil Exploration As Gas Rig Count Falls
Oilfield services player Baker Hughes released its latest rig count report, showing that the number of rigs directed towards gas exploration continued to fall as low gas prices caused explorers to trim down on new wells. However, the industry outlook in North America continued to remain strong as activity shifted to oil rich plays.
With gas prices falling to less than $2 / Million British thermal units (MMBtu), the shift towards liquids has picked up pace as companies are becoming more cautious about investing in pure gas plays. Natural gas rig count fell below 600 last week. Baker Hughes and Halliburton are among the main players in the North American oilfield services market.
We have a $56.50 price estimate for Baker Hughes, which is at a 40% premium to its current market price.
05/17/2012 02:01:36pm
