Archive for the ‘Major Moves’ Category

Caterpillar Posts Better Than Expected Q1 Earnings

Posted by Michael on April 26th, 2010

CaterpillarStrong first quarter earnings from Caterpillar Inc. (CAT) have helped pushed the market higher to start off the week.

Shares of Caterpillar are up 4.5% on the day to $71.91, up $3.13 following better than expected results this morning before the market opened.

Analysts were forecasting $0.39 per share, and the company easily outpaced those estimates with a reported $0.50 per share.

Revenues were a bit shy of analyst estimates, but the stock is surging after it raised its forecast for full year 2010 to $2.50 to $3.25 a share, up from its previous forecast of $2.50 per share.

S&P boosted its price target on the stock to $80 a share, and maintained its Buy rating on the company.

The company noted that the global economy is definitely improving, and as a result construction has been rebounding. This helped pushed the overall market higher today, with the DOW up over 25 points in afternoon trading.

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Posted in Earnings, Forecasts, Good News, Major Moves, Market Updates Tags: , , , , , , , , , , , , , , , , , , 1 Comment »

New 52 Week Highs : MSFT, AAPL, HD & AXP

Posted by Michael on April 23rd, 2010

MicrosoftSome big name stocks set new 52 week highs today. Here are some of the stocks that were able to set new highs to head into the weekend:

  • Microsoft (MSFT) : Tech giant Microsoft set a new 52 week high today, trading up to $31.58 before closing the trading session down 1.4% on the day to $30.96, down $0.43. The company posted better than expected fiscal Q3 earnings last night following the market close.
  • Apple Computer (AAPL) : Apple continues to trade strongly following better than expected earnings earlier this week. The stock hit a new all time high today of $272.18. The stock finished out the session up 1.6% to $270.83, up $4.36.
  • Home Depot (HD) : Home improvement giant Home Depot set a new 52 week high today. The stock traded as high as $36.44 and closed the session just under its daily high at $36.39, up $0.67 or 1.9%. Home Depot will not be reporting its earnings until mid May.
  • American Express (AXP) : Financial giant American Express set a new 52 week high today of $49.19. The stock closed the day up 2.7% at $48.05, up $1.28. The company posted better than expected earnings Thursday night, reporting $0.73 per share, verses analyst estimates for $0.63.

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Posted in Good News, Major Moves, New Highs, Technology Tags: , , , , , , , , , , , , , , , , , , , , , , , , No Comments »

Xerox Soars Following Strong Q1 Earnings

Posted by Michael on April 23rd, 2010

xeroxShares of Xerox (XRX) are soaring today, and set a new 52 week high today after posting better than expected first quarter numbers.

Going into this mornings earnings report, analysts were forecasting $0.15 per share, verses $0.05 during the same period last year.

Actual earnings came in well above estimates, at $0.18 per share excluding special items.

Revenues were up by 33% during the quarter to $4.7 billion. Analysts had forecast revenues of $4.79 billion.

Looking ahead Xerox stated that it expects to earn 20 to 22 cents for its second quarter, above Wall Street estimates of $0.18.

The stock is trading up 10.2% today to $11.52, up $1.07.

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Posted in Earnings, Good News, Major Moves, New Highs Tags: , , , , , , , , , , , , , , No Comments »

General Electric and Bank of America pull down the market

Posted by Michael on October 16th, 2009

bearThe market closed in the red today, as poor earnings from General Electric (NYSE: GE) and Bank of America (NYSE: BAC) brought out the bears.

The DOW closed the session down 0.67%, the NASDAQ ended the day down 0.76%, while the S&P slipped by 0.8%.

General Electric started off the day off on a bad note when the company reported revenues that came up short of analyst estimates. GE was able to outpace analyst estimates for its earnings in the third quarter by posting 23 cents per share verse analyst estimates of 20 cents per share, but that was not enough to outweigh its missed revenues. The company reported $37.8 billion in revenues verse analyst estimates for $40.3 billion. Shares of GE closed the day down 4.2% to $16.08, down $0.71 on the day and wiping out $7.5 billion in market capitalization.

Bank of America was expected to show a loss for its third quarter of 21 cents per share, but the actual numbers came in worse than expected with a 26 cent loss in the quarter. The stock was hit hard today following the report, with shares falling 4.6% to $17.26, down $0.84 on the day.

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New 52 Week Highs:

There were several big name stocks that were able to set new 52 week highs today, despite the down market and include the following; Pfizer (NYSE: PFE), Halliburton (NYSE: HAL), Hewlett-Packard (NYSE: HPQ), and Mattel (NYSE: MAT).

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Analyst upgrades and downgrades:

Stocks upgraded today include:

  • Gap Inc. (NYSE: GPS) upgraded by Caris to Buy from Above Average with $27 price target
  • Safeway (NYSE: SWY) upgraded by Kevin Dann to Buy from Neutral and boosted its price target on the stock to $27 from $19 per share.
  • Google (NASDAQ: GOOG) received an upgrade today by Benchmark Co. to a Buy from Hold, while lifting its price target on the stock to $625 from $500.

Stocks downgraded today include:

  • Netflix (NASDAQ: NFLX) downgraded by Caris to Above Average from Buy with a $56 price target on the stock.
  • Nokia (NYSE: NOK) downgraded by Gabelli to Hold from Buy.

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Posted in Bad News, Earnings, Good News, Major Moves, Market Updates, New Highs, downgrades, upgrades Tags: , , , , , , , , , , , , , , , , , , , , , , , , , No Comments »

DOW closes over 10,000, some big names hit new highs: INTC, JPM, EMC

Posted by Michael on October 14th, 2009

bull.jpgThe DOW closed above the psychological 10,000 mark today for the first time in a year, and ended the day up 1.47% to 10,115.86.

The first time that the DOW rose above the 10,000 mark was all the way back in 1999, and at that time investors celebrated, and drank champagne, but this time it was not so much a reason to celebrate as a reason to relax a bit, as Wall Street continues to claw its way back from the lows set in March of this year.

It has been an impressive run for the DOW, which is now up 53% from the lows it set earlier this year. The market had a good day on the back of strong earnings from Intel Corp. (NYSE: INTC) and JP Morgan (NYSE: JPM).

A few stocks that hit new 52 week highs today include:

  • Intel Corp (NYSE: INTC): The company hit a high of $21.27 and closed the day up 1.6% at $20.83. The company reported 33 cents per share, which was higher than the 28 cents that analysts had been expecting to see.
  • JP Morgan (NYSE: JPM): JP Morgan hit a high of $47.47 on the day, and closed the session up 3.3% to $47.16, up $1.50. The company reported earnings of 82 cents per share for its third quarter, above analyst estimates for 52 cents a share.
  • EMC Corp. (NYSE: EMC): EMC set a new 52 week high today after the stock was upgraded this morning by Thomas Weisel to Overweight from Market Weight, and the broker raised its price target on the stock to $24 from $15. The stock hit a new high of $18.33 and closed today’s trading up 1.3% to $18.16, up $0.24.

Other big names hitting new highs today were Cisco Systems (NASDAQ: CSCO), Wyeth (NYSE: WYE), Merck (NYSE: MRK), and Goldman Sachs (NYSE: GS).

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Posted in After the Bell, Earnings, Major Moves Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , No Comments »

Another down day for the market

Posted by Michael on February 25th, 2009

After yesterday’s rally, and President Obama’s speech last night, it would have been nice to see another strong day for the market, but that was not the case as sellers came back in and sent all the major markets lower in today’s trading.

As we know, the housing market has been a major drain on the overall economy, and the real estate market got some more bad news today as we learned that January existing home sales dropped by more than expected.

Several big names hit new fresh 52 week lows today:

  • Pfizer (PFE)
  • Las Vegas Sands (LVS)
  • Nokia (NOK)
  • Caterpillar (CAT)
  • Boeing (BA)

We will see if the markets are able to pick up some steam tomorrow, but for now it looks like pessimism is still running wild on Wall Street

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Posted in After the Bell, Bad News, Housing, Major Moves, Politics Tags: , , , No Comments »

Premarket look: Market poised for another sell off

Posted by Michael on October 6th, 2008

Another tough day ahead of us on Wall Street, as international markets have sold off about 4% today on widening fears over the slowing global economy.

Look for another sell off on Wall Street, as futures are indicating a very sharp drop at the open. After the volatile week last week, many of us had some hopes that the Bush approved $700 billion bailout plan that was passed late on Friday would help spark a slight bounce, but that is not to be the case, and stocks are set for a much lower open to get the week started.

There is going to be a lot of pain out there today.

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Posted in Bad News, Before the Bell, Congress, Consumer Experience, Economy, George Bush, Major Moves, Market Updates, Politics, Recession No Comments »

Market should open higher after yesterday’s sell off

Posted by Michael on September 30th, 2008

Yesterday was brutal on the stock market, with the largest one day drop in history, as the DOW fell 777 points, a decline of nearly 7. The Nasdaq dropped by even more on a percentage basis, with a decline of 9.14%, and the S&P gave back 8.8% yesterday.

Futures are trading higher today, but it is going to take a lot more than one day of upside to make up what we lost yesterday.

Yesterday started off slowly as investors were skeptical that the proposed Bush bailout plan was going to be enough to save the troubled economy, but that fear turned to panic once the market realized that the plan was not going to go through all at yesterday afternoon.

Lawmakers are going to be on holiday until Thursday to observe the Jewish holidays, but there should still be some action taking place behind closed doors aimed at ironing out a new deal that will satisfy both Congress and Wall Street. We will see if / when that is able to take place.

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Posted in Before the Bell, Congress, Economy, George Bush, Major Moves, Market Updates, Recession No Comments »

Circuit City (CC) surges on Blockbuster (BBI) bid

Posted by Michael on April 14th, 2008

Shares of troubled consumer retailer Circuit City (NYSE: CC) are surging this morning in the premarket. Shares of Circuit City are up 59% in premarket trading this morning on news that Blockbuster (NYSE: BBI) is looking to acquire the company.

Blockbuster announced that it was offering $6 a share for Circuit City (Circuit City closed last Friday at $3.90) . The bid amounts to over $1 billion.

Blockbuster stated that it has been in talks with Circuit City for a few months now, but has still not received the due diligence from Circuit City needed to make a definitive offer. It had requested this information by Feb. 21.

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Posted in Before the Bell, Major Moves, Stocks to Watch No Comments »

Gasoline prices set new high

Posted by Michael on April 4th, 2008

gasoline pumpGasoline prices moved up overnight to set a new record high last night… the second record high in as many days.

According to AAA, the national average for a gallon of regular unleaded has now reached record levels of $3.303 for a gallon.

The current price of gasoline has been rising in reaction to the recent run up of oil prices and the weak dollar, and resulted in a 22% jump year over year in prices at the pump.

The highest averaging states are California and Hawaii, both of which have average prices above the $3.60 mark.

For a full write up on the current situation, you can read my article on record high gasoline prices over on BloggingStocks.

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Posted in Consumer Experience, Dollar, Economy, Energy, Major Moves, Market Updates, New Highs, Oil 4 Comments »
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