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Stock Market News and Morning Call
Resource stocks push FTSE ahead
Resource stocks underpinned the FTSE 100's advance on Monday morning and there were also gains in the insurance sector after a broker upgrade.
Capital market deals raise $20bn
Banks and companies raised $20bn on the world's equity capital markets last week in a sign of growing confidence among investors that the worst of the financial crisis may be over
Overview: Record oil dents sentiment
Oil prices reached yet more record highs, while concerns over slowing growth and a worsening of credit conditions drove investors to seek havens from risk this week
Heavyweights tip Europe lower
European equity markets fell in a broad-based retreat, led by heavyweight financial, pharmaceutical and energy and mining stocks
Weak financials drag on FTSE
London equities fell on Friday, as a fresh record high crude price and poor results from US insurer AIG unsettled investors
Asian stocks sink on subprime concerns
Massive losses at US insurer AIG have sparked worries there may be more credit trouble ahead
Financial stocks weigh on Asian markets
Worries about further subprime losses in the US emerged and traders reacted to a fall on Wall Street overnight, pressing the MSCI Asia Pacific Index down 1.1 per cent
Gearing up for an economic shift
Transport has been singled out as a reliable guide to the direction of the economy
Fears for growth sparks Chinese sell-off
The Shanghai composite index tumbled 4.1% to 3,579.15 points as Chinese stocks suffered a steep sell-off due to concerns about inflation and economic growth
NYSE Euronext profit triples during volatility
The transatlantic stock and derivatives exchange group gains from record volumes at its Liffe futures unit and offsets its declining market share in US cash equities
Banks and oil weigh on Asia-Pacific shares
As oil hit new highs, banks faltered on profit falls in Australia and South Korea. Meanwhile, the Bank of America has been warned to steer clear of a subprime victim
China eases HK rules for fund managers
Beijing has made it easier for mainland fund management companies to do business directly in Hong Kong and expand their operations in the territory
Merger talk fails to drown out airlines' woes
Many airline stocks made gains on speculation about industry consolidation, but the respite could prove temporary amid surging oil prices and global economic weakness
Banks and chip shares spur Asia
Japan's Nikkei rose 2.1% to 14,014.40, near a four-month high, as Asian stocks cheered a batch of encouraging US data and gains for Wall Street
FT.com - Equities FT.com - Equities
Citigroup (C) is looking to lose some asset weight, while Northwest Airlines (NWA) feels the pinch of record-high crude oil
The usual suspects sent stocks spiraling into negative territory today: financial stocks and crude oil...(Read More)
Linear Technology (LLTC) is climbing the charts in defiance of Wall Street's pessimistic stance
Linear Technology (LLTC: sentiment, chart, options) is definitely outperforming its peers in the semiconductor sector this year...(Read More)
NVIDIA (NVDA) sees heavy option activity following its earnings report
Eerily Prophetic ... AgainEver get that feeling? No, not that one, the other one, the one where you think you have been somewhere before ... it has a funny French name that I can't really type, as my spell checker would blow up...(Read More)
Regardless of its surge, investors remain bearish on Molex (MOLX)
Manufacturer of electronic components, Molex (MOLX: sentiment, chart, options) makes products for original equipment manufacturers throughout the globe...(Read More)
Examining the technical and sentiment backdrops of Juniper Networks (JNPR), Ciena (CIEN), Broadcom (BRCM), and Citrix Systems (CTXS)
Technology stocks have been beaten down in 2008, with the tech-laden Nasdaq Composite (COMP) dropping about 8% since January...(Read More)
Examining heavy call trading on Target (TGT)
In last week's edition of Trading Tools, Andrea examined semiconductor firm MKS Instruments (MKSI), as it appeared on the Zacks Put/Call Ratio Greater than 1.0 screener...(Read More)
Sirius Satellite (SIRI) and Wal-Mart (WMT) reporting earnings this week
This is a weekly feature that provides you a peek at the major economic and earnings announcements for the week ahead.Economic Calendar for the Week of May 12:The economic calendar this week starts out light with Monday's release from April's treasury budget...(Read More)
A look at AK Steel (AKS)
Surfing through some of the filters that are available in our Quotes & Tools section, I stumbled across this week's StockCenter focus stock - AK Steel (AKS: sentiment, chart, options) ...(Read More)
News from Activision (ATVI), Biogen Idec (BIIB), NVIDIA (NVDA), and RealNetworks (RNWK)
Today's headlines includes Activision (ATVI) reporting a fourth-quarter profit, Biogen Idec (BIIB) urging share holders to reject director nominees, and NVIDIA (NVDA) and RealNetworks (RNWK) reporting first-quarter earnings...(Read More)
Financials under pressure due to American International Group (AIG), Citigroup (C), and Sovereign Bancorp (SOV)
U.S. stock futures are broadly lower this morning, indicative of a potentially negative start to the session...(Read More)
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Play Schaeffer's New Addictive Game: Stockdoku
Addicted to Sudoku or crossword puzzles? Then you'll love Schaeffer's Stockdoku. It's Sudoku with a stock market twist!..(Play the Game Now)
Wal-Mart Stores (WMT) paces good news in the retail sector, market advances despite rising oil
Following yesterday's sizeable loss thanks to crude prices, retail-sales figures stepped to the forefront to offer a bit of bullish fodder...(Read More)
Regardless of its long-term trek higher, short interest remains heavy on Ormat Technologies (ORA)
Playing with one of the awesome filters on SchaeffersResearch.com, I decided to check out some uptrending stocks with heavy short interest...(Read More)
Crocs, Inc. (CROX) breaks out of its trading range, but the equity's gains could turn out to be a one-day wonder
Since tapping a 52-week high north of the 75 level last October, the shares of Crocs, Inc...(Read More)
Option activity picks up on American International Group (AIG) ahead of this afternoon's earnings
Interesting Time for an Earnings WarningEarlier this morning, Standard & Poor's (S&P) analyst Catherine Seifert cut her earnings forecast on insurance behemoth American International Group (AIG: sentiment, chart, options) ...(Read More)
Compass Minerals International (CMP) shares are soaring, investors remain skeptical
Formerly known as Salt Holdings Corporation, Compass Minerals International ( (CMP: sentiment, chart, options) is one of the largest salt producers in North America...(Read More)
Overstock.com (OSTK) shocks the bears with a technical breakout and fundamental strength
You know what's hard? Constructing the perfect bullish stock filter. It's an endeavor that has provided us with some measure of success; on January 10, we recommended Tween Brands (TWB) as a bullish pick...(Read More)
McDonald's Corp. (MCD) tests its 20-day trendline as optimism grows
Is McDonald's Corp.'s (MCD: sentiment, chart, options) uptrend in trouble? The equity has staged a solid rally from its March low of %2452, gaining more than 13% along the way...(Read More)
Jarden (JAH) gives up Wednesday's gains despite strong earnings
Before the open this morning, Jarden (JAH: sentiment, chart, options) announced first-quarter earnings of %244.7 million, or 6 cents per share, compared to its year-ago earnings of %241.4 million, or 2 cents per share...(Read More)
News from Gilead Sciences (GILD), Hansen Natural (HANS), Nationwide Financial Services (NFS), and News Corp. (NWS)
Today's headlines include earnings from Hansen Natural (HANS), Nationwide Financial Services (NFS), and News Corp...(Read More)
Wal-Mart Stores (WMT) lifts Street Sentiment, Toyota (TM) Not Immune to Detroit problems
U.S. stock futures are pointed higher for the first time this week, indicating that we could see a positive start to the regular session of trading...(Read More)
Alpha Natural Resources (ANR) and Transocean (RIG) bucked widespread selling pressure to reach new 52-week highs
Any hopes for a continuation of yesterday's late-session comeback rally were quickly dashed this morning...(Read More)
Devon Energy's (DVN) afternoon call activity more than quadruples its average daily volume
Oklahoma-based Devon Energy (DVN: sentiment, chart, options) , an oil and gas exploration company, this morning reported stronger-than-expected first-quarter earnings, though revenue for the period disappointed the Street...(Read More)
Sybase (SY) rally met with heavy investor skepticism
Following my tirade against the software sector in last week's Tech Corner, I was quite surprised to find database specialist Sybase (SY) rising to the top of today's bullish Tool Box filter...(Read More)
The newly optionable Metalico (MEA) flexes some heavy-metal muscle on the charts
Although its name is dangerously close to that of a rock band that I find particularly offensive on the ears, Metalico (MEA) has nothing to do with big-haired musicians from the Eighties...(Read More)
Why the bid and ask prices of an option are important
The BasicsOne of the aspects of writing articles here at Schaeffer's that I enjoy thoroughly is the chance to interact with you, the reader...(Read More)
SchaeffersResearch.com Market Observations Timely market observations from Bernie Schaeffer and the traders at Schaeffer's Investment Research. Discussions on stock and option trading; technical, fundamental and sentiment analysis; finance and investing.
NBR Transcripts-May 9, 2008
Printable Transcripts
"Market Monitor"-Al Goldman, Chief Market Strategist for Wachovia Securities
"Market Monitor"-Al Goldman, Chief Market Strategist for Wachovia Securities says the stock market has seen its
worst days, but it will take a while for things to completely turn around.
"A Tale of Five Cities"-Cape Coral, Florida
Cape Coral, Florida recently topped the national list of home
foreclosures. But as the housing market there turns around, other parts of
the state have higher hurdles to jump.
What's Fueling Rising Oil Prices?
When it comes to oil,
what goes up keeps going higher. Oil hit a new record high again today, as
it has each day this week. Now it's flirting with $126 a barrel.
One on One with Susan Wachter, Real Estate Professor at the Wharton School of Business
Susan Wachter, Real Estate Professor at the Wharton School of Business makes an educated guess at the future of housing.
Nightly Business Report - Transcripts | PBS Transcripts of the the major stories in Nightly Business Report's evening broadcast.
A Tale of Five Cities - South Florida
The NBR series A Tale of 5 Cities looks at impact the housing crisis is continuing to have on five different regions of the U.S. In this report, NBR correspondent Jeff Yastine examines real estate in South Florida.
A Tale of Five Cities - Silicon Valley
The NBR series A Tale of 5 Cities looks at impact the housing crisis is continuing to have on five different regions of the U.S. In this report, Oanh Ha of P BS station KTEH examines real estate in California's Silicon Valley.
A Tale of Five Cities - Detroit
The NBR series A Tale of 5 Cities looks at impact the housing crisis is continuing to have on five different regions of the U.S. In this report, NBR Midwest Bureau Chief Diane Eastabrook examines real estate in Detroit.
A Tale of Five Cities - New York City
The NBR series A Tale of 5 Cities looks at impact the housing crisis is continuing to have on five different regions of the U.S. In this report, NBR correspondent Suzanne Pratt examines real estate in New York City's Manhattan borough.
Extended Interview - Warren Buffett
NBR Anchor Susie Gharib spent the weekend in Omaha, Nebraska covering the 2008 Berkshire Hathaway Shareholders' Meeting. On tonight's program, she files a detailed report on the event and what Warren Buffett had to say about the state of his company. Susie's broadcast report includes excerpts of an interview she conducted with Buffett. You can watch the complete six minute interview here and explore other, related features.
Nightly Business Report - Learn More | PBS Expand your knowledge about specific topics in Nightly Business Report's evening broadcast. Each "Learn More" contains in-depth information about a topic, including links to other online resources.
Why Per-Share Price is Not Important
Why is a stock that cost $50 cheaper than another stock priced at $10?
This question opens a point that often trips up beginning investors: The per-share price of a...
Let Go of Old Stock Investing Strategies
We humans are creatures of habit, even when it comes to investing in stocks, which should be made by a logical decision process.
Yet, the truth is that many investors...
Adjust Risk Premium for Stocks to Market Conditions
In times of market turbulence, should investors be rethinking the idea of risk premium when buying stocks?
The idea of risk premium is that investors have a safe place to put...
How to Profit from Insider Trading
The Dow closed at a four-month high Thursday, while oil fell and the dollar rose. What a great way to start a new month.
Is the market looking past the current...
How to Identify the Bottom of the Stock Market
Do you want to know the exact date the stock market hits bottom and begins a true rebound during a bear market?
This is a magic date because stocks often post...
Check on Institutional Ownership Before Buying Stock
Before you buy a particular stock, you may want to find out whether existing large shareholders are buying more or selling off their shares. This can help you evaluate the...
Picking Stocks is like Buying a Car
Picking stocks is a lot like buying a new car - only different.
More accurately, the process of picking a stock is like the process of buying a new car.
You...
Be Careful of Investing in Safe Stocks
Are there any safe stocks when the market is being battered every day by bad news?
Safety is a relative word. What one investor considers safe, another may find too risky.
However,...
Long-Term Investing Becoming Shorter in Global Economy
There is only one reason most investors buy a stock and that is because they expect a return that will be greater than putting the money in some form of...
Time Running Out on CEO Compensation Excesses?
With the stock market in the can, the economy in sad shape, and people losing homes and jobs at an alarming rate, it is disturbing to read another report about...
About Stocks Stocks
Drilling for Oil … in Downtown L.A.
Record oil prices have brought fresh interest in the city's wells.
Oil's Broken Record, Surges Above $126
Traders fear that a fight with Venezuela could stop the flow of oil.
New Sign of Hard Times: Imports Down
The U.S. trade gap shrank as the economy cut demand for imports by 2.9 percent.
Will We Ever Pay for an Album Again?
The latest trend to hit the music industry: artists giving away their songs.
House Passes $300B Foreclosure Rescue
The House approved a major housing aid plan despite Bush's veto threat.
Is Efficiency Obsession Unproductive?
Deconstructing the notion that demand for more means better productivity.
Toyota's Profits Sink to $3 Billion
The automaker posts a 28 percent drop as sales weaken in North America.
Calif. City to File for Bankruptcy
Vallejo is set to become the largest California city to file for bankruptcy.
N.Y. Man Could Bring Down Israeli PM
A philanthropist's testimony is sought in the probe of PM Olmert's dealings.
Southwest Gave Freebies to FAA
Free pilot training shows tight ties between Southwest and oversight agency.
Should the Politicians Raise the Gas Tax?
Sounds unpopular but a few in government are quietly contemplating such plans.
America's Riskiest Real Estate Spots
Ready to take a serious gamble on real estate? Check out these cities.
Is It Time to Stockpile Your Food?
A guide to preparing for rising food costs or that next big emergency.
Selling Prized Belongings to Make Ends Meet
Hard-hit Americans are unloading their family heirlooms to pay for food and gas.
Ready for a Divorce? Your House Isn't
In today's market, divorcing couples find extra trouble in selling their homes.
Why Airlines Might Abandon Your City
In the near future, you might end up driving hours just to catch your flight.
Cash for 'Bumped' Fliers Doubled
The DOT doubles the compensation airlines must pay bumped fliers to up to $800.
Survive the Airline Travel Crisis: Tips
Tips on what the airlines owe you and how to get to your destination on time.
What Delta, NWest 'Marriage' Means for You
A look at how their trip down the aisle will shape travel for you and me.
RSS Feed: Send News to Your Computer
Get the latest business headlines from ABC News.
ABC News: Money
Yahoo May Find Victory in Microsoft Deal's Defeat
By blowing the Microsoft deal, Yahoo may inadvertently get itself back on track.
Shifting Gears at Ford
CEO Alan Mulally is ushering in big changes -- which could bring long-term growth.
Why Google Is a Buy
The stock may still be down 26% from its 52-week high, but I'm bullish long-term.
Market Drop Stings Taxpayers With 2007 Gains
With the market way down this year, paying Uncle Sam for 2007's gains really stings.
Open Letter to Microsoft CEO Re: Yahoo Deal
Get the Yahoo deal done fast, our columnist urges in an open letter to Microsoft's CEO.
Lessons From the 1990-1991 Recession
Taking a look at the recession of 1990-91 could build a case for being optimistic now.
No Tears for Mr. Cayne
Bear Stearns shareholders were lucky to get $2 a share. Now this reeks of a bailout.
Will Safety Nets Protect Retail Brokerage Assets?
With so many safety nets, investors don't need to worry about their brokerage assets.
Bull Markets Return When You Least Expect
A bull market inevitably follows a bear one -- and often when you least expect it.
More Assets Frozen at Big Banks
Some supposedly low-risk investments are no longer liquid. Investors, beware.
SmartMoney.com - Common Sense Investing, Saving and Personal Finance
Technical Indicator Favors Japan Over U.S.
A technical indicator favors Japanese stocks right now. Use ETFs to build positions.
The Market Is Beyond Control. Your Trades Aren't
The market is beyond your control. Your trades aren't. Plus: Iron Man's rusty tirade.
Precious-Metals Price Action Loses Luster
Based on recent price action, the bull run in precious metals appears to be over.
Gap's Stock Comes Back in Fashion
The apparel retailer's stock is finally back in fashion. Plus: CEO salaries exposed.
Mexican Peso Quietly Gains on Dollar
Long ignored by U.S. investors, the Mexican peso is quietly gaining against the dollar.
Selling Losers as They Rally Is Big Mistake
A big mistake is hanging on to losers. A bigger mistake is selling when they finally rally.
Entitlement Mentality Is Wrecking Economy
Paulson's plan is the latest example of the government's ill-advised safety net.
Stock Spike Doesn't Spell Shift for Macro Trends
Despite run-up in stocks, the big trends influencing markets are the same.
Fed's Bear Bailout Hobbles Free Markets
The Fed's decision to rescue Bear Stearns is another blow to free markets.
No Signs of End to Real Estate, Banking Crises
The ongoing real estate and banking crises have no end in sight. That worries me.
SmartMoney.com - Tradecraft Investing, Saving and Personal Finance
i2 Technologies' Turnaround: Part II
Tech Phoenix submits:
Now that i2 Technologies (ITWO) has reported its Q12008 earnings, it's time for part II of this story (see part I here).
News Headlines Are Misleading

Complete Story »
EPS Beat Rates Tick Slightly Lower
Hickey and Walters (Bespoke) submit:
After another 600+ US companies reported earnings this week, the earnings "beat rate" dropped slightly from 57% to 56%. Currently, 1,163 out of 2,076 companies that have reported since April 7th have announced better than expected earnings per share. As shown, the "beat rate" has fallen from the mid-60s over the last few quarters, but it's not yet at the low-50 levels seen during the last bear market.
click to enlarge
Complete Story »
Blue Nile, ZipRealty Down; WebMD, Monster Up
Sramana Mitra submits: Last week quite a few of the companies I have covered in the Web 3.0 analysis released its Q1 results. While some showed impressive performance, quite a few were battling the recession. Here is an analysis of some of these stocks.
Blue Nile (NILE), the online jewelry retailer, announced Q1 revenues of $70.5 million, recording a 4% growth over the year and exceeding the market’s expectations of $69.5 million. EPS for the quarter stood at $0.16, recording a 16% reduction over the previous year. The market was expecting an EPS of $0.14.
Complete Story »
Raymond James Analyst Raises Timminco Price Target
FP Trading Desk submits: Raymond James analyst Andy Nasr increased his price target on Timminco Ltd. (TIMNF.PK) on Friday. This followed a news-heavy Thursday for the company that included first quarter earnings, a new contract and a positive operational review of it production facilities.
Mr. Nasr told clients in a note that he raised his target from C$15 to C$19 after "factoring in higher solar-grade silicon prices in 2008." Even so, he maintained his "underperform" rating on the stock in light of Timminco's current share price, which fell 7% or C$1.86 to C$22.99 in trading on Friday.
Complete Story »
Analysts: Canadian Tire Still a Good Defensive Stock
FP Trading Desk submits: While analysts were disappointed in first quarter earnings at Canadian Tire Corp. (CDNTF.PK), which came in lower than expected, most retained their buy ratings on shares of the hardware and sporting goods retailer, saying it’s still a good defensive retail stock in a weakening economy.
They also brought up the question of whether Canadian Tire, a Canadian icon, is a consumer staples merchandiser or a discretionary retailer. RBC Markets analyst Irene Nattel says the first quarter results “confirmed that it is a little of both,” but leaning more towards the latter.
Complete Story »
Copa Holdings: Generates Decent Profits Despite Oil Price
Tim Plaehn submits: With oil prices going through the roof, it is nice to see an airline generate some decent profits. Copa Holdings (CPA)
is the parent of Panama based Copa Airlines and Columbia based Aero
Republica. Earnings for Q1, 2008 were 91¢ per share compared to $1.12
for the same quarter a year ago (See Transcript). As one could easily guess, higher fuel
prices put a dent in the earnings, with average fuel costs 35% higher
for the quarter. Other revenue numbers showed some nice growth (all of
the numbers are YoY quarter growth):
- Total revenue increased 21.9%.
- Revenue passenger miles increased 13.5%.
- Yield per passenger mile increased 7.2%.
- Load factor increased 1.6% to 78%.
- Operating cost per seat mile increased 20.7% (see fuel cost increase above).
- Liquidity (available cash & investments) equaled 33% of last 12 months revenues.
- An annual dividend of 37¢ was declared.
As
a rule, airline stocks scare me, double scare me when fuel prices are
rapidly rising. However, Copa is maintaining decent profitability in
spite of increasing costs. The airline appears to be very well run (I
have flown on Copa Airlines several times). It has a young (less than
4 years average age) fleet and serves the growing Latin America market. Complete Story »
PMC Commercial Trust: Poised to Pop
Patrick Harden submits:PMC Commercial
(PCC) is one mortgage REIT that's flying way under the radar - no
analyst coverage, no quarterly earnings calls. The micro-cap (~$80
million market cap) commercial originator has seen its stock sink 30%
in the past two months, falling from $10 in March to just $7 in May.
But has PMC's pounding been overly punitive?

Complete Story »
Alloy Steel Submits the Perfect Quarter
Michael Alexander submits:
This is a follow up to my previous article
about Alloy Steel (AYSI.OB), a maker of proprietary wear plates primarily serving
the mining industry in Australia. In my previous article, I mentioned
several reasons why AYSI appeared to be an excellent investment.

Complete Story »
Mindray to Become Third-Largest Player in Patient Monitoring Devices
ChinaBio Today submits: Mindray Medical International Limited (NYSE: MR),
the Shenzhen-based medical device and in-vitro diagnostic test company,
announced its first quarter financial results, reporting substantial
increases in revenues and profits. The results were not only ahead of
last year, but they beat the numbers projected by Wall Street analysts.
Here are the numbers: Complete Story »
Nvidia's Upbeat Outlook Is Cheering Up Its Share Price
Eric Savitz (Barron's) submits:  It’s been an interesting 24 hours for investors in Nvidia (NVDA).
Yesterday, shares of the graphics chip company traded lower heading into the company’s earnings announcement last night;
there were concerns about high levels of channel inventory and market
share losses to the ATI division of Advanced Micro Devices (AMD). Complete Story »
AIG: The New Math?
Todd Sullivan submits: Am I the only one who just cannot reconcile this?
For the 2007 first quarter, AIG (AIG) reported net income of $4.13 billion or
$1.58 per diluted share. First quarter 2008 adjusted net loss was
$3.56 billion or $1.41 per diluted share, compared to adjusted net
income of $4.39 billion or $1.68 per diluted share for the first
quarter of 2007. Complete Story »
Morning Report: Dollar Sentiment Begins To Wane
John J. Phillips IV submits:On the whole things were pretty quiet
in Europe overnight. In equity news Germany’s Allianz (AZ) reports
Q1 net income of €1.14B, below consensus estimates of €1.41B, and
revenue of €27.7B, above estimates of €27.3B. The company
reported a Q1 banking loss of €538M and said that further writedowns
cannot be ruled out.
In the newspapers overnight, The
Telegraph wrote that EDF [EDF.FR] is set to make a £9B all cash
bid for British Energy [BGY.UK]. Business Week
made positive mentions on Starbucks (SBUX), A-Power Energy Generation
(APWR), and Radioshack (RSH) in its Inside Wall Street section.
According to the Financial Times,
Citigroup (C) may announce more than $200B in non-core assets that could
be sold today. Citigroup's CEO is also expected to confirm his plan
to cut the firm's costs base by about 20%. Complete Story »
Is Energy Conversion Devices Ready for a Comeback?
Trader Mark submits:Energy Conversion Devices (ENER) is an interesting
tale - this has been for many many years a "hope" stock i.e. more
promise than execution - I remember the hoopla surrounding it at the
turn of the century ... the last time people were all hyped up about
alternative energies (at the time the big fuss was about new wave car
batteries and the like).
his company has morphed over the years with a
confusing array of business lines (trying to decide what it wanted to
"be"), but recently has added a newer and more-business savvy executive
team, and while they still have a few business lines .... the
excitement is their solar business, which has turned into the dominant
line at the company. Complete Story »
A Look at Earnings from Transocean and Devon
Trader Mark submits:I don't own these 2 names directly but do own peers, and these are
bellweathers for their sectors so I thought I'd post them. One thing to
note - despite great numbers, the stocks are not reacting. Hence,
we could be prone for a pullback shortly in these names. When stocks do
not react to great news, that is a potential change in character, just
like when stocks shake off bad news and go up. The charts in
"commodities" despite some pullback, are still quite overextended and
yesterday's call of Goldman $150-$200 oil [Goldman Sachs: Gasoline Not Driving Oil Price - Oil Going to $150-$200] would be the perfect catalyst to mark a near term top...
Despite
my Kool Aid infusion I am still quite bearish, and I view this period
akin to Sep/Oct 2007 when we partook in the foolishness to make money
but realized there were more shoes to drop. I am sort of laughing at
how the market goes up on $110, $115, $120, $125? oil ... as if it
won't have any effect on profits or people across the globe. It is
essentially a world tax on all productivity and profit. But oh well, it
won't matter until it matters. If we cannot break through this 200 day
moving average I would not be surprised to see a meaningful move
downward - we have ignored the facts for about 6 weeks now since the
"Fed put" was brought underneath the market via Bear Stearns. At some
point ignorance must turn back to reality...
On to the earnings reports.
Deep sea oil driller Transocean (RIG) reports a doubling of profits
- Transocean Inc (RIG), the world's largest oil and gas drilling contractor, said on Wednesday quarterly profit more than doubled, beating Wall Street expectations, on higher rates for its deepwater rigs and lower-than-expected expenses.
-
Record high crude oil prices have created a boom in demand for floating
rigs and drill ships that operate in the deepest waters. Drilling
contractors have benefited as tight supplies have pushed daily rig rates above $600,000 in some cases.
-
First-quarter profit jumped to $1.19 billion, or $3.71 per share, from
$553 million, or $2.62 per share, a year earlier. Excluding one-time
items, the company earned $3.80 a share. Analysts, on average, had
expected $3.32, according to Reuters Estimates.
- "The beat was mainly due to lower operating expenses," Mark Urness, oilfield service analyst at Calyon Securities, said. "It's probably deferred maintenance, so it will come back later in the year. Still it's still a good quarter."
-
Average daily rental rates, or dayrates, for the Houston company's
total fleet rose 15.6 percent to $229,000. The increase in average
dayrate was seen in all categories, primarily due to rigs starting new
contracts at the higher dayrates, Transocean said.
- Costs for
the first quarter of 2008 benefited from the postponement of several
shipyard and major maintenance projects to later in the year, according
to the company.
Devon Energy (DVN) beats by $0.41
- Devon Energy
Corp., the largest U.S.-based independent oil and natural gas
exploration and production company, said Wednesday its first-quarter
profit rose 15 percent as higher prices and production offset one-time
charges and increased expenses.
- Excluding one-time charges --
including a $780 million loss on derivatives instruments due to rising
natural gas prices -- the company posted earnings per share of $2.74.
- Analysts polled by Thomson Financial expected, on average, earnings per share of $2.33.
- Production
rose 9 percent over the year-earlier quarter to 640,000 barrels of oil
equivalent per day. The company's average price of natural gas rose to
$8.03 per thousand cubic feet, from $6.77 per thousand cubic feet, and
the average price of crude oil rose to $97.67 per 42-gallon barrel,
from $58.33 per barrel.
- Combined, the company's average oil, gas and natural-gas liquids production from continuing operations was 640,000 oil-equivalent barrels a day, up 9%. The production growth was concentrated in onshore fields within the United States and Canada.
- Devon's
net production from the Barnett Shale field in northern Texas averaged
a record 995 million cubic feet of gas equivalent a day in the first
quarter, up 36%. We can grow that for a long time to come. That's what's exciting," Devon CEO Larry Nichols said in a CNBC interview.
The main
thing we want to see for exploration companies is a good replacement
rate - that is, they can replace old production by either new finds or
expanding current locations, and push production at a higher rate going
forward. The inability to do this is a problem some of the larger
players, i.e. Exxon (XOM) are now facing. And potentially an issue with
some of the world's large state owned producers are facing (which would
lend credence to the high energy prices being a permanent fixture in
society) Complete Story »
EnergySolutions Should Blow Out Earnings
Michael Filloon submits:
Since the uranium bubble has popped, there is very little spoken of with respect to the nuclear trade. As many of the companies are good long term plays, many lack luster with respect to the near term as much of the United State's Government inventory of tail, uranium and plutonium are released to the market. Even with this, there will be pricing power going forward in nuclear as the White House knows they have an oil production problem going forward, which will continue to keep the dollar weak as we import more oil than we export.
The United States can make a huge dent in the price of oil by setting up the electricity capacity to be able to recharge batteries of hybrid style vehicles. It is my thought that a massive amount of money will be poured into the grid as many nuclear and natural gas power plants are built. This should decrease the amount of gasoline used over the long term and at the rate other countries are developing a taste for automobiles we better get started as nuclear reactors take about 4 years to build as opposed to a year for coal fired plants. I am not dismissing the fact that clean coal is an alternative, but I think the politicians will push cleaner methods of meeting electricity means as states such as California have plenty of votes to push their agenda.
Complete Story »
TV Boosts News Corp's Revenues, But What Lies Ahead?
Julia Boorstin submits: News Corp. (NWS) is benefiting from its global
diversity and a strong TV business, and it doesn't seem to be hurt by
the U.S. economy's downturn. And now, investors are saying the stock is
undervalued. The day after its earnings announcement, News Corp traded up. The company announced its profit more
than tripled thanks to its sale of DirecTV (DTV) and stock exchange with Liberty Media (LCAPA). Meanwhile NWS revenue was up 16 percent to $8.75 million, beating analyst estimates (according to Bloomberg).
The
big winner is Fox TV. Thanks to the most-watched Super Bowl ever and
the success of "American Idol" thanks to the writers' strike, Fox TV profit grew 54 percent. Meanwhile Fox Interactive
(which includes MySpace) narrowed its loss to $7 million from $104
million as sales increased 17 percent. Complete Story »
Activision Beats Street with Most Profitable Quarter Ever
Seth Gilbert submits:The video gaming industry and the movie industry share a lot of common ground
– narrative techniques, visual style, entertainment – but no factor is
more influential to either industry than the importance of good
titles. It’s a little like the line from the movie “Field of Dreams”: “If you build it they will come.” If you have good quality games,
you draw audiences and build money making franchises. But if you make
a dud? Revenues are sure to slump.
Game makers Midway (MWY) and THQ (THQI) haven’t been able to find the working formula and missed with earnings as a result. Activision (ATVI) seems to have it locked in. Complete Story »
Disney Delights, Netflix Disappoints
Sramana Mitra submits: I have covered the online movies section earlier in my Web 3.0 analysis. Two relevant companies in the discussion recently announced their results.
Walt Disney Company (DIS), the second largest American entertainment company reported its Q2 financials for the year raising doubts on the recessionary pressures.
Complete Story »
HudBay Minerals: Takeover Unlikely Despite Disappointing Earnings
FP Trading Desk submits: For all those Hudbay Minerals Inc. (HBMFF.PK) investors banking on a takeover bid to bring life back to the stock, RBC Capital analyst Adam Schatzker says think again.
In a research note Mr. Schatzker said: Once again, the rumor mill is saying HudBay is going to be acquired. We do not think this is likely. With increasing costs, short mine lives at two mines, a pending smelter closure and the poor performance at Balmat, we think HudBay is not a target.
Complete Story »
Barrick Gold Upgraded on Solid 1Q Results
FP Trading Desk submits: Barrick Gold Corp. (ABX) was upgraded to “buy” from “hold” by Blackmont Capital’s Richard Gray after the company reported solid first quarter results. However, adjusted earnings per share [EPS] of $0.62 were below the analyst’s forecast of $0.66 and production of 1.74 million ounces of gold was below his 1.93 million projection.
Following up on first-quarter cost-containment trends demonstrated by Newmont Mining Corp. (NEM) and Goldcorp Inc. (GG), Barrick’s average cash costs came in at $393 per ounce – below Mr. Gray’s forecast of $396. More good news came from the miner’s margin on production, which rose for the fourth straight quarter to $532 per ounce, up 26% from the fourth quarter of 2007.
Complete Story »
Seeking Alpha Earnings stocks 'Earnings' Tag RSS Syndication from SeekingAlpha.com
Akeena Solar Announces First Quarter 2008 Results
Akeena Solar, Inc. (NASDAQ: AKNS), a leading designer and installer of solar power systems, today announced results for the first quarter of 2008.
Rotoblock Engineers Complete Inspection of China Manufacturing
Two engineers from small engine developer Rotoblock (OTCBB: ROTB) have returned from Nanjing, China this week touring a manufacturing group to inspect and determine whether or not its facilities would be suitable for acquisition.
India's Growth Story; Spending and Innovation in PC Markets, Cell Phone Markets, Green Technology and Digital Media and Entertainment
USA Video Interactive Corp.'s (OTCBB: USVO) (TSX.V: US) Digital Watermarking Technology Deployed in Bollywood
Clear Skies Solar Signs $1.7 Million Agreement to Provide Renewable Energy for California Dairy Farm
Solar Installation Will Provide Energy for Scott Brothers Dairy Farm
ZAP Proposes Endless Gas Tax Holiday With Electric Vehicles
100% Electric Zapino Scooter Now in Stock for Immediate Delivery
Oxbow Resources Announces Appointment of Vice President of Exploration
Mr. James Laird joins the Management Team - Oxbow Resources (OTC.PK: OXWR), a company that is using innovative geological concepts and exploration technology to discover new gold and silver resources in well-established mineral belts
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - Announces the Appointment of Mr. Stephen Clevett to the ESIV Board of Directors
Essential Innovations Technology Corp. is pleased to announce that Mr. Stephen Clevett, President and CEO of Optimira Energy Canada, Ltd. ("Optimira"), has officially joined the ESIV Board of Directors.
Vertical ad network company will remain committed to serving broader media industry; Adify to complement Cox's vast array of media and technology assets
Cox Enterprises, Inc. today announced that its subsidiary Cox TMI, Inc. will acquire Adify Corporation. Adify will operate as a stand-alone company and will continue to be led by Russ Fradin, president and co-founder of Adify. Corporate headquarters for Adify will remain in San Bruno, Calif. with sales offices in New York, Alexandria, Va., London, Berlin and Singapore.
ICP Solar Expands Distribution Relationship with Wal-Mart
Wal-Mart to Carry Complete Line of Coleman Solar Battery Chargers
Clear Skies Solar Reports on Success of XTRAX(R) Solar Monitoring System Field Trials
Patented XTRAX(R) Cutting-Edge System Provides Solar Energy Production Monitoring Capabilities to Solar PV Industry
Apex Resources Group, Inc. (OTC BB:APXR) Announces The Global Demands On Oil And Gas Has The Potential to Create A Black Gold Fever Newly Appointed Director States.
With the increasing global consumption of oil and gas and production not equalizing to the demands, gas and oil prices will continue to increase, with the potential of creating a black gold fever, according to newly appointed Director Roger Reynolds.
Warren Buffett Finances Candy Maker – Betting on Old School Eating Trends; Sugar as a Staple of North American Diets
InvestorIdeas.com Reports on Trends in Organic, Natural Foods – Are the Undercurrents there to Prove the Oracle Wrong Long Term?
InvestorIdeas.com Stock Directories in Leading Sectors for Small Cap Investors Announces Addition of EquityGroups.com Message Boards for Corresponding Sectors
Investor Tools Include Stock Directories and Message Boards for Renewable Energy Stocks, Nanotech Stocks, Biotech Stocks, China Stocks and Oil and Gas Stock
Rotoblock CEO Liu Chien-Chih Returns to China for Reasons of Interest From Chinese Automotive Components and Commercial Equipment Manufacturer
Rotoblock Corporation (OTCBB:ROTB) is pleased to announce that its acquisition target in China is nearing completion.
USVO Co-Sponsors 12th Annual Gilder/Forbes Telecosm Conference, Telecosm 2008: The Exaflood
USA Video Interactive Corp. (OTCBB: USVO) (TSX: US) (BERLIN: USF) (FRANKFURT: USF) co-sponsors the 12th Annual Gilder/Forbes Telecosm Conference, Telecosm 2008: The Exaflood, taking place May 27 - May 29, 2008
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - ESIV Joint Venture With Optimira Energy
'The JV will provide the financing, administration and project management services necessary to offer to developers a long-term operating lease.'
Leaf completes a $17 million investment in SkyFuel, Inc.
Leaf Clean Energy Company ("Leaf") (LSE: LEAF.L), an AIM listed company incorporated for the purpose of investing in clean energy companies and projects in North America, is pleased to announce the completion of a $17 million Series B preferred stock financing in SkyFuel, Inc ("SkyFuel") led by Leaf.
Renewable Energy Stocks Podcast; Driving Green Interview With Jonathan Ortiz of Foreign Affairs Auto, "The Integration of Electric Vehicles Will Be Driven by Consumer Demand"
Foreign Affairs, Florida's 1st Smart Dealership's Current Electric Car Portfolio Includes ZAP and Other Electric Vehicles
Renewable Energy Stocks; Geothermal Stock, Essential Innovations Technology Corp. (OTCBB: ESIV - FRANKFURT: E6S) Showcased on Investorideas.com
With Rising Energy Costs, Energy-Efficient Geoexchange Technology Nearly Doubles From 2004-2007
ZAP Electric Car, Truck Arrive in Florida at West Palm Beach Dealership Foreign Affairs Auto
As oil and gas keep hitting new records this week, an electric car dealership opened in West Palm Beach, Florida offering a new affordable design for city-speed driving called the ZAP (OTCBB: ZAAP) Xebra.
Digital Media Stocks Sector Close-Up; USA Video Interactive Corporation (OTCBB: USVO), Dolby Laboratories, Inc., Philips, Sun Microsystems
Key Trends: Adoption of Digital Watermarking Increasing, Content Identification and Video Storage Optimization Challenge Industry
Sector Close Up- Tech Stocks, Geeks On Call Holdings, Inc. (OTCBB: GOCH), Google (NASDAQ: GOOG), Yahoo! (NASDAQ: YHOO), Microsoft (NASDAQ: MSFT)
Investorideas.com and www.TechSectorStocks.com, a Technology Stocks Investor Portal within Investorideas.com, feature a sector close- up on Technology stocks, dominated by Google’s recent performance to the upside.
Renewable Energy Stocks; Earth Day Sector Close-Up on Solar Stocks
Solar Stocks Help Investors Think Green as First Solar Shares Spike for Earth Day
InvestorIdeas.com Green Investor Portals Report for Earth Day Awareness; Skipping the Beef to Save the Earth
Eating Greens to Green our Earth
Geoexchange Technology Provider - Essential Innovations Technology Corp. (ESIV) - 'Diamondview Estates' - Project Update
'Essential Innovations provides Geoexchange heating and cooling systems for the upcoming Diamondview Estates 'Parade of Homes - Street of Dreams''
Chicago Rolls Out ZAP Solar Electric Car for Catering on Earth Day
Chicago's Sopraffina Marketcaffe to Unveil Solar-Electric Catering Vehicle in Chicago
Technology Solutions and IT Support for Small Business; Filling the Gap for Small Business Owners
Geeks On Call Holdings, Inc., (OTCBB: GOCH ), Vocus Inc. (NasdaqGM: VOCS), Dell Inc. ,HP, RCN Business Services and others Strive to Enable Small Business
Trade-In a Gas-Guzzler for an Electric Car This Earth Day at ZAP
Remember that electric car prices are coming down as you ponder the meaning of Earth Day on April 22, while gas prices keep going up.
InvestorIdeas.com Reports on Trends in Organic, Natural Foods and Alternative Health Stocks and Industry
Fast growth natural and organics product market one to watch!
Geeks On Call Furthers West Coast Expansion
Company-Owned Operations Commence in Sacramento, Calif.
Essential Innovations Technology - Letter From the President/CEO
Essential Innovations Technology Corp. is pleased to provide this corporate update to its shareholders and the investment community at large.
Four Bollywood Production and Distribution Companies to Use Usvo's MediaSentinel Anti-Piracy Product
Four production and distribution companies in Bollywood, the world's largest film and entertainment industry, based in Mumbai, India, will begin using USA Video Interactive Corp.'s unique digital watermarking product, MediaSentinelT, to thwart piracy domestically and internationally.
Essential Innovations Technology Announces On-Going Financing Support
Essential Innovations Technology Corp. is truly pleased to announce to the investment community that it has successfully continued to raise on-going financing for the Corporation in the form of private placement investment and unsecured loans in excess of $1,100,000 USD since May 2007.
Gas Prices Hit $4, ZAP Electric Car Deliveries Top 700
Electric car interest is picking u |