Gapping up
In reaction to strong earnings/guidance: FTK +9.2%, XIN +6.3%, CSCO +6%, ENS +4.3%, CJES +4.1%, SI +3.6%, AEG +3.1%, MPEL +2.8%, CGA +2.5%, .
Select financial related names showing strength: DB +5.2%, ING +4.8%, CS +4.3%, BCS +3.5%, LYG +3.5%, UBS +2.8%, BAC +1.9%.
Other news: SNTA +6.5% (reports results show Ganetespib sensitizes rectal cancer cells to Chemoradiotherapy), NOK +3.6% (still checking), SNY +1.7% (report positive preliminary Phase 2 program results for anti-PCSK9 antibody in hypercholesterolemia), HOS +0.3% (aprices 7 mln shares of common stock at $30 per share).
Analyst comments: ENS +4.3% (upgraded to Buy from Neutral at Mizuho) VRTX +2.6% (upgraded to Equal Weight from Underweight at Morgan Stanley).
Gapping down
In reaction to disappointing earnings/guidance: GMCR -33.6%, PEGA -16.7%, OPNT -9.6%, KLIC -7.1%.
Analyst comments: PKY -4.3% (downgraded to at ), LII -2.6% (downgraded to Neutral from Buy at Suntrust).
In reaction to disappointing earnings/guidance: GMCR -33.6%, PEGA -16.7%, OPNT -9.6%, KLIC -7.1%.
Analyst comments: PKY -4.3% (downgraded to at ), LII -2.6% (downgraded to Neutral from Buy at Suntrust).
Let's Get Our Heads Out of the Sand
By James "Rev Shark" DePorre
Nov 10, 2011 | 9:00 AM
"Any idiot can face a crisis, it is this day-to-day living that wears you out." --Anton Chekhov
A spike in Italian bond yields Wednesday caused concern that the European debt crisis was advancing to the next stage. Market players, who became more bullish as the Greece crisis wound down, were caught by surprise, and that resulted in panic selling as stocks were dumped across the board.
This morning, a strong Italian bond auction has yields back under 7% and there is talk that a replacement for Prime Minister Silvio Berlusconi is ready to move into place. That is helping to produce yet another Europe-is-saved bounce but we have to wonder how long this one is going to stick.
One reason I maintained a sanguine attitude about Wednesday's selling was that these Europe-is-saved rallies have come like clockwork. In fact, almost any bad news is simply a setup for an immediate rebound as talk starts about what the solutions to the problems might be. There is always a meeting, an election or some sort of change that is happening soon that will fix the problem.
What is particularly frustrating for the bears is that there isn't any real progress solving the core problems in Europe. Everyone still believes that a Greek default is inevitable and that the sovereign debt problems will continue to spread. But the bulls celebrate every Band-Aid that is applied and are happy to put the real problems on the back burner as stocks jump back up in celebration of another short-term solution.
The inclination to ignore the real issues in Europe is a clear indication that there are plenty of underinvested bulls who want to rack up performance before the year ends. The huge rally in October caught folks by surprise and many missed the bulk of the move. They are now anxious to buy pullbacks and, hopefully, ride things back up for some gains.
It is a wall of worry. As we saw yesterday, there are very good reasons to be worried about Europe. But when we jump up quickly like we have this morning, those on the sidelines worry that they will miss out on the upside, so they do a little buying, which causes a rally and draws in more folks worried about being left behind. Nothing is more frustrating for bears and underinvested bulls than a market that continues to rise in the face of obvious negatives.
I believe market players will continue to embrace any good news despite the many obvious negatives that plague the market. That should give technical support, but there's still the risk of moves like yesterday's when actual bad news hits.
It will make for a choppy environment, but the seasonality at the end of the year should be more favorable for individual stock picking. One of the biggest frustrations of the market recently is the high correlation between stocks, which move in lockstep to the news headlines. Buying "good" individual stocks has provided little protection on days like Wednesday. It has been my thesis that this might change as the year winds down, but we are still so sensitive to Europe that it has been very hard to be aggressive with individual stock picking.
We have a decent bounce brewing, but all eyes will continue to be on Europe. I'll be focusing on my shopping list, but the volatility is going to force me to move incrementally
By James "Rev Shark" DePorre
Nov 10, 2011 | 9:00 AM
"Any idiot can face a crisis, it is this day-to-day living that wears you out." --Anton Chekhov
A spike in Italian bond yields Wednesday caused concern that the European debt crisis was advancing to the next stage. Market players, who became more bullish as the Greece crisis wound down, were caught by surprise, and that resulted in panic selling as stocks were dumped across the board.
This morning, a strong Italian bond auction has yields back under 7% and there is talk that a replacement for Prime Minister Silvio Berlusconi is ready to move into place. That is helping to produce yet another Europe-is-saved bounce but we have to wonder how long this one is going to stick.
One reason I maintained a sanguine attitude about Wednesday's selling was that these Europe-is-saved rallies have come like clockwork. In fact, almost any bad news is simply a setup for an immediate rebound as talk starts about what the solutions to the problems might be. There is always a meeting, an election or some sort of change that is happening soon that will fix the problem.
What is particularly frustrating for the bears is that there isn't any real progress solving the core problems in Europe. Everyone still believes that a Greek default is inevitable and that the sovereign debt problems will continue to spread. But the bulls celebrate every Band-Aid that is applied and are happy to put the real problems on the back burner as stocks jump back up in celebration of another short-term solution.
The inclination to ignore the real issues in Europe is a clear indication that there are plenty of underinvested bulls who want to rack up performance before the year ends. The huge rally in October caught folks by surprise and many missed the bulk of the move. They are now anxious to buy pullbacks and, hopefully, ride things back up for some gains.
It is a wall of worry. As we saw yesterday, there are very good reasons to be worried about Europe. But when we jump up quickly like we have this morning, those on the sidelines worry that they will miss out on the upside, so they do a little buying, which causes a rally and draws in more folks worried about being left behind. Nothing is more frustrating for bears and underinvested bulls than a market that continues to rise in the face of obvious negatives.
I believe market players will continue to embrace any good news despite the many obvious negatives that plague the market. That should give technical support, but there's still the risk of moves like yesterday's when actual bad news hits.
It will make for a choppy environment, but the seasonality at the end of the year should be more favorable for individual stock picking. One of the biggest frustrations of the market recently is the high correlation between stocks, which move in lockstep to the news headlines. Buying "good" individual stocks has provided little protection on days like Wednesday. It has been my thesis that this might change as the year winds down, but we are still so sensitive to Europe that it has been very hard to be aggressive with individual stock picking.
We have a decent bounce brewing, but all eyes will continue to be on Europe. I'll be focusing on my shopping list, but the volatility is going to force me to move incrementally
Koos "hädavajadusega" Iraani tuumavõimekus hävitada praalivad agressiivsed juudad avalikult oma tuumavõimekusega. Pigem peaks Iraan siin ennetavat lööki kaaluma
On ütlematagi selge, et Iisrael teeb kõik endast oleneva, et Iraan tuumarelva ei saaks, aga on samamoodi ütlematagi selge, et ükskõik, mida Iisrael ka teeb, ei ole nende võimuses Iraani tuumaambitsioone ohjeldada. Seega jääb pigem küsimus, mis saab siis kui Iraanil ühel hetkel nuke olemas on. Mina arvan, et mitte midagi ei saa. Samamoodi nagu eksisteerivad pommiga põlisvaenlased India ja Pakistan, saavad eksisteerima ka Iisrael ja Iraan (eriti post-Ahmadinejad Iraan). Omamoodi tuleb see Lähis-Ida olukorrale isegi kasuks, kuna kui on teada, et vajadusel on riigil kasutada must kohver punase nupuga, ei kiirusta keegi selle riigiga täiemahulist konflikti arendama. Töötab mõlemat pidi.
Ligi protsendisest plussist on SPY nüüdseks kuulujuttude peale nulli vajunud
Market talk that the French sovereign may be changed to watch negative
Market talk that the French sovereign may be changed to watch negative
Nädala viimasel kauplemispäeval on US võlakirjaturg kinni.
U.S. Treasury market will be closed tomorrow in observance of Veterans Day
U.S. Treasury market will be closed tomorrow in observance of Veterans Day
Insider Trading: Fidelity discloses new 10%+ positions in 13G filings
Among the notable positions Fidelity reported: MSTR (10.274%), PLOW (10.334%), WMGI (10.706%), ENTG (10.695%), TXRH (11.129%), AVY (10.777%), RFMD (13.000%), AMRS (10.884%), and SKX (11.516%).
Among the notable positions Fidelity reported: MSTR (10.274%), PLOW (10.334%), WMGI (10.706%), ENTG (10.695%), TXRH (11.129%), AVY (10.777%), RFMD (13.000%), AMRS (10.884%), and SKX (11.516%).
Research In Motion: Hearing Pacific Crest out positive on RIMM
Seeing headlines that some Dodd-Frank rules could be delayed
October Treasury Budget -$98.5 bln vs -$105.0 bln Briefing.com consensus; Prior -$140 bln
DougTheBulletproofKass:Gun to my head we are up at least two percent today, making back hal f of yesterdays loss..
Research In Motion: CNBC reports that Omega Advisor's Leon Cooperman buys 1.4 mln shares of RIMM
Molycorp prelim $0.67 vs $0.68 Capital IQ Consensus Estimate; revs $138.1 mln vs $152.12 mln Capital IQ Consensus Estimate
Reports Q3 (Sep) earnings of $0.67 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.68; revenues rose 1524.7% year/year to $138.1 mln vs the $152.12 mln consensus. Molycorp's "Project Phoenix" modernization and expansion plan at its flagship Mountain Pass, California rare earth facility has been accelerated, with the co now expecting to achieve its Phase 1 production run rate of 19,050 metric tons per year by Sept 30, 2012, three months earlier than originally planned. The co's Board of Directors authorized an additional investment of $114 million to fund the acceleration, which includes contingency funds. The acceleration of Project Phoenix Phase 1 will increase the Company's estimated 2012 production by ~3,500 metric tons of Rare Earth Oxide equivalent, to between 8,000 and 10,000 metric tons. The project acceleration will also advance mechanical completion of Project Phoenix Phase 2 by six months, allowing the co the capability of producing at an annual rate of 40,000 metric tons per year as early as mid-2013, if customer demand warrants. Q3 gross margin increased to a record 63%, up from 57% in Q2 2011.
Reports Q3 (Sep) earnings of $0.67 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.68; revenues rose 1524.7% year/year to $138.1 mln vs the $152.12 mln consensus. Molycorp's "Project Phoenix" modernization and expansion plan at its flagship Mountain Pass, California rare earth facility has been accelerated, with the co now expecting to achieve its Phase 1 production run rate of 19,050 metric tons per year by Sept 30, 2012, three months earlier than originally planned. The co's Board of Directors authorized an additional investment of $114 million to fund the acceleration, which includes contingency funds. The acceleration of Project Phoenix Phase 1 will increase the Company's estimated 2012 production by ~3,500 metric tons of Rare Earth Oxide equivalent, to between 8,000 and 10,000 metric tons. The project acceleration will also advance mechanical completion of Project Phoenix Phase 2 by six months, allowing the co the capability of producing at an annual rate of 40,000 metric tons per year as early as mid-2013, if customer demand warrants. Q3 gross margin increased to a record 63%, up from 57% in Q2 2011.