Stock futures pared early losses Monday after Sunday's elections in France and Greece rattled investors' confidence.
Dow futures were off 41 points. Nasdaq 100 futures traded down 8.25 points and S&P 500 futures dipped 4.2 points.
Voters in France dumped President Nicolas Sarkozy for socialist
candidate Francois Hollande. Hollande ran in opposition to the austerity
measures backed by Sarkozy, calling for higher taxes to support growth
and more involvement from the European Central Bank.
In Greece's parliamentary elections, 60% of the popular vote went to
fringe parties, but fell short of
Tuesday, May 8, 2012
Sunday, May 6, 2012
Agricultural chemicals industry
IBD has long emphasized that investors ought to pay particular attention to relatively young companies.
Many such companies have become big stock market winners in the years just after their IPOs.
With that in mind, IBD's NYSE + Nasdaq Research Tables point out highly rated companies that came public in the last 15 years. Those stocks have a triangle next to their names.
The Stock Spotlight screen also can be a good place to look for recent IPOs.
Two agricultural chemicals companies that went public last year have made the screen: Sugar Land, Texas-based CVR Partners (UAN) and Los Angeles-based Rentech Nitrogen Partners (RNF).
The thinly traded CVR appears to be working on the right side of a new consolidation. The pattern appears to be part of a base-on-base formation.
Many such companies have become big stock market winners in the years just after their IPOs.
With that in mind, IBD's NYSE + Nasdaq Research Tables point out highly rated companies that came public in the last 15 years. Those stocks have a triangle next to their names.
Two agricultural chemicals companies that went public last year have made the screen: Sugar Land, Texas-based CVR Partners (UAN) and Los Angeles-based Rentech Nitrogen Partners (RNF).
The thinly traded CVR appears to be working on the right side of a new consolidation. The pattern appears to be part of a base-on-base formation.
Friday, May 4, 2012
The previous session's steep losses
Cocoa futures soared to a five-week high Tuesday, recouping the
previous session's steep losses as the ICE market vaulted more than 6%
on short-covering.
July cocoa soared $100, or 4.5%, to $2,319 per metric ton, the highest since March 28, after flying as high as $2,356. Cocoa climbed in an initial corrective bounce from Monday's 7.1% tumble, but sharply extended its gains ahead of the settlement window on a wave of short-covering, dealers said.
"It's a mixture of some spec short-covering, some new longs as we rejected the lows of yesterday," said Drew Geraghty, a commodity broker at ICAP North America in New Jersey. "I think this is technical short-covering."
Cocoa futures closed above their 100-day moving averages, after falling below those levels on Monday.
The rally lifted volumes, which were light prior to the surge, to just below the 30-day average, though traders in continental Europe were on holiday for the May 1 "May Day"and many dealers away from their desks before a trade dinner in London on Friday.
"The open interest reflecting yesterday's business shows the funds got short the market," Geraghty said. "Looking at the volume profile of yesterday's business, it looks like a lot of these shorts are trapped between $2,210 and $2,146, yesterday's low."
Open interest jumped to 182,814 lots on April 30, the highest in nearly six months, while Monday's volume jumped to nearly 36,000 lots, a two-week high, ICE data showed.
July cocoa soared $100, or 4.5%, to $2,319 per metric ton, the highest since March 28, after flying as high as $2,356. Cocoa climbed in an initial corrective bounce from Monday's 7.1% tumble, but sharply extended its gains ahead of the settlement window on a wave of short-covering, dealers said.
"It's a mixture of some spec short-covering, some new longs as we rejected the lows of yesterday," said Drew Geraghty, a commodity broker at ICAP North America in New Jersey. "I think this is technical short-covering."
Cocoa futures closed above their 100-day moving averages, after falling below those levels on Monday.
The rally lifted volumes, which were light prior to the surge, to just below the 30-day average, though traders in continental Europe were on holiday for the May 1 "May Day"and many dealers away from their desks before a trade dinner in London on Friday.
"The open interest reflecting yesterday's business shows the funds got short the market," Geraghty said. "Looking at the volume profile of yesterday's business, it looks like a lot of these shorts are trapped between $2,210 and $2,146, yesterday's low."
Open interest jumped to 182,814 lots on April 30, the highest in nearly six months, while Monday's volume jumped to nearly 36,000 lots, a two-week high, ICE data showed.
Thursday, May 3, 2012
Health insurance plans
Insurance companies will have to return more than $1 billion this
year to consumers and businesses, thanks to a new requirement in
President Barack Obama's health care overhaul, a report released
Thursday concludes.
That's real money, says Larry Levitt of the Kaiser Family Foundation, which analyzed industry filings with state insurance commissioners. The law requires insurers to spend at least 80% of the premiums they collect on medical care and quality improvements — or issue rebates to policyholders.
"This is one of the most tangible benefits of the health reform law that consumers will have seen to date," said Levitt, an expert on private health insurance. The nonpartisan foundation is an information clearinghouse on the nation's health care system, and its research is widely cited.
The report comes with a caveat. It lacks data on the nation's most populous state, California, because complete filings there were not available. Nonetheless, the analysis estimates that consumers and businesses in other states will receive rebates of $1.3 billion, in some cases in the form of a discount on next year's premiums.
That's real money, says Larry Levitt of the Kaiser Family Foundation, which analyzed industry filings with state insurance commissioners. The law requires insurers to spend at least 80% of the premiums they collect on medical care and quality improvements — or issue rebates to policyholders.
"This is one of the most tangible benefits of the health reform law that consumers will have seen to date," said Levitt, an expert on private health insurance. The nonpartisan foundation is an information clearinghouse on the nation's health care system, and its research is widely cited.
The report comes with a caveat. It lacks data on the nation's most populous state, California, because complete filings there were not available. Nonetheless, the analysis estimates that consumers and businesses in other states will receive rebates of $1.3 billion, in some cases in the form of a discount on next year's premiums.
Wednesday, May 2, 2012
Among the leading stocks
Stocks have shown better action this week, helping switch IBD's market outlook to "in confirmed uptrend."
That switch came after Wednesday's session, when the S&P 500 delivered a follow-through day.
Still, the follow-through day was on the marginal side. Investors following IBD's CAN SLIM strategy should proceed with caution.
Among the leading stocks that are acting well, one common theme is a rebound off support near the 10-week moving average.
Some of the main indexes are displaying that same behavior, so it's no surprise to also see it among highly rated stocks.
Remember that in a rising market, 10-week pullbacks can provide a chance to buy a winning stock or add shares to an existing position.
Credit-card networks MasterCard (MA) and Visa (V) both have executed 10-week rebounds. MasterCard's actually looks a little better. You prefer to see active turnover in a rebound, and MasterCard has that, while Visa has rallied in below-average volume.
Longtime leader Priceline.com (PCLN) also has lifted off support at its 10-week line. Its IBD industry group, Leisure-Travel Booking, continues to sport a strong ranking, standing at No. 13 out of 197 groups as of Thursday.
Genesco (GCO) has staged a 10-week rebound, too. The shoe and hat retailer tried to clear a 75.65 buy point from a flat base April 17, but it couldn't close above that level.
The stock then fell back near its 10-week line before jumping Thursday. It now has managed to close above 75.65.
Other leading stocks have at least regained their 10-week lines, even if they haven't lifted above them at this point. Take Lululemon Athletica (LULU), for example.
Lululemon could be working on a new base as it finds 10-week support. The seller of high-end athletic clothing has been consolidating for about three weeks.
That switch came after Wednesday's session, when the S&P 500 delivered a follow-through day.
Still, the follow-through day was on the marginal side. Investors following IBD's CAN SLIM strategy should proceed with caution.
Among the leading stocks that are acting well, one common theme is a rebound off support near the 10-week moving average.
Some of the main indexes are displaying that same behavior, so it's no surprise to also see it among highly rated stocks.
Remember that in a rising market, 10-week pullbacks can provide a chance to buy a winning stock or add shares to an existing position.
Credit-card networks MasterCard (MA) and Visa (V) both have executed 10-week rebounds. MasterCard's actually looks a little better. You prefer to see active turnover in a rebound, and MasterCard has that, while Visa has rallied in below-average volume.
Longtime leader Priceline.com (PCLN) also has lifted off support at its 10-week line. Its IBD industry group, Leisure-Travel Booking, continues to sport a strong ranking, standing at No. 13 out of 197 groups as of Thursday.
Genesco (GCO) has staged a 10-week rebound, too. The shoe and hat retailer tried to clear a 75.65 buy point from a flat base April 17, but it couldn't close above that level.
The stock then fell back near its 10-week line before jumping Thursday. It now has managed to close above 75.65.
Other leading stocks have at least regained their 10-week lines, even if they haven't lifted above them at this point. Take Lululemon Athletica (LULU), for example.
Lululemon could be working on a new base as it finds 10-week support. The seller of high-end athletic clothing has been consolidating for about three weeks.
Tuesday, May 1, 2012
U.S. Federal Reserve forecast
Copper rallied Thursday to its highest level in more than two weeks,
fueled by a more optimistic economic outlook from the Federal Reserve
and by strong technical momentum that may drive prices back toward their
2012 highs.
Copper is higher for a third straight day, extending gains from the previous session during which the U.S. Federal Reserve forecast U.S. growth to "remain moderate over coming quarters and then pick up gradually."
The Fed also said it was ready to launch another round of bond buying if the U.S. economy weakens.
Copper prices moved through two lines of technical defense — the 100-day moving average at around $3.72 per pound and the 200-day at $3.76.
Matthew Zeman, head of trading with Kingsview Financial in Chicago, said the market's ability to hold above the 200-day should attract more buyers and again challenge the upper end of this year's trading range near $4.
"We're going to re-challenge the top end of the previous trading range ... just under $4 (per pound)," Zeman said.
July copper jumped 6.60 cents, or 1.8%, to $3.7735 per pound, after dealing between $3.6960 and $3.7845, another high dating back to April 10.
Comex volumes were heavy once again, with over 101,000 lots traded in late New York business, more than 40% above the 30-day average, according to preliminary Thomson Reuters data.
Copper is higher for a third straight day, extending gains from the previous session during which the U.S. Federal Reserve forecast U.S. growth to "remain moderate over coming quarters and then pick up gradually."
The Fed also said it was ready to launch another round of bond buying if the U.S. economy weakens.
Copper prices moved through two lines of technical defense — the 100-day moving average at around $3.72 per pound and the 200-day at $3.76.
Matthew Zeman, head of trading with Kingsview Financial in Chicago, said the market's ability to hold above the 200-day should attract more buyers and again challenge the upper end of this year's trading range near $4.
"We're going to re-challenge the top end of the previous trading range ... just under $4 (per pound)," Zeman said.
July copper jumped 6.60 cents, or 1.8%, to $3.7735 per pound, after dealing between $3.6960 and $3.7845, another high dating back to April 10.
Comex volumes were heavy once again, with over 101,000 lots traded in late New York business, more than 40% above the 30-day average, according to preliminary Thomson Reuters data.
Saturday, April 28, 2012
Expectations and the smallest increase
The Dow Jones industrial average tacked on 0.5%, while the Nasdaq and
S&P 500 each added 0.2%. Turnover was tracking lower across the
board.
As earnings season keeps rolling, a number of leading stocks were making big moves on their quarterly reports.
Texas Capital Bancshares (TCBI) jumped 6% in fast trade, clearing a 36.71 buy point from a square-box base. The regional bank said quarterly EPS climbed 126% to 70 cents, beating views, as sales rose 32% to $102 million. It also scored an upgrade to buy from Sterne Agee.
SolarWinds (SWI) was up 18% in huge turnover after gapping above its 50-day line to an all-time high. The software maker said quarterly EPS grew 43% to 30 cents, topping forecasts and accelerating from a 21% jump in the fourth quarter of 2011. Revenue, including acquisitions, jumped 39% to $59.7 million. SolarWinds has lifted off support at its 10-week moving average.
O'Reilly Automotive (ORLY) was up 5% in strong volume and carved a new high before giving up some gains. The car parts retailer said quarterly EPS gained 37% to $1.14, ahead of estimates, as revenue jumped 11% to $1.5 billion. Its guidance was roughly in line. The stock hit a new high early Thursday, but has given up gains. It's well extended past its last buying range.
On the downside, Nu Skin Enterprises (NUS) shed 8% despite topping views. Before the open, the skin care products firm reported that its Q1 profit climbed 32% to 74 cents a share vs. expectations of 70 cents. Revenue grew 17% to $462 million, also above estimates. But Nu Skin sees Q2 earnings coming in at 79 cents to 83 cents a share, below expectations of 85 cents.
Celgene (CELG) gapped below its 50-day moving average, losing 4% after reporting disappointing Q1 results. The biotech earned $1.08 a share, up 30% from a year ago. But it missed views by a nickel. Sales rose 13% to $1.27 billion, below expectations and the smallest increase in 11 quarters. It was also the fourth straight quarter of sales growth deceleration.
In economic news, pending home sales jumped by a much better-than-expected 4% in March. Economists had expected a 0.5% gain. New jobless claims declined by 1,000 to a seasonally adjusted 388,000 last week, worse than forecasts for 375,000.
As earnings season keeps rolling, a number of leading stocks were making big moves on their quarterly reports.
Texas Capital Bancshares (TCBI) jumped 6% in fast trade, clearing a 36.71 buy point from a square-box base. The regional bank said quarterly EPS climbed 126% to 70 cents, beating views, as sales rose 32% to $102 million. It also scored an upgrade to buy from Sterne Agee.
SolarWinds (SWI) was up 18% in huge turnover after gapping above its 50-day line to an all-time high. The software maker said quarterly EPS grew 43% to 30 cents, topping forecasts and accelerating from a 21% jump in the fourth quarter of 2011. Revenue, including acquisitions, jumped 39% to $59.7 million. SolarWinds has lifted off support at its 10-week moving average.
O'Reilly Automotive (ORLY) was up 5% in strong volume and carved a new high before giving up some gains. The car parts retailer said quarterly EPS gained 37% to $1.14, ahead of estimates, as revenue jumped 11% to $1.5 billion. Its guidance was roughly in line. The stock hit a new high early Thursday, but has given up gains. It's well extended past its last buying range.
On the downside, Nu Skin Enterprises (NUS) shed 8% despite topping views. Before the open, the skin care products firm reported that its Q1 profit climbed 32% to 74 cents a share vs. expectations of 70 cents. Revenue grew 17% to $462 million, also above estimates. But Nu Skin sees Q2 earnings coming in at 79 cents to 83 cents a share, below expectations of 85 cents.
Celgene (CELG) gapped below its 50-day moving average, losing 4% after reporting disappointing Q1 results. The biotech earned $1.08 a share, up 30% from a year ago. But it missed views by a nickel. Sales rose 13% to $1.27 billion, below expectations and the smallest increase in 11 quarters. It was also the fourth straight quarter of sales growth deceleration.
In economic news, pending home sales jumped by a much better-than-expected 4% in March. Economists had expected a 0.5% gain. New jobless claims declined by 1,000 to a seasonally adjusted 388,000 last week, worse than forecasts for 375,000.
Subscribe to:
Posts (Atom)