Posts tagged ‘trade’
Stocks on the run pre market
Macy’s volatility low, shares up in pre-open on July sales and EPS outlook
Macy’s is recently trading at $15.35 in pre-open trading, above its close of $14.22. M expects Q2 earnings of 15c to 17c. M is scheduled to report Q2 EPS on August 12. M August option implied volatility is at 69; September is at 63; below its 26-week average of 81, according to Track Data, suggesting decreasing price movemen
Chinese drywall may adversely be affecting thousands of U.S. homes, WSJ says
Thousands of homes built in the U.S. between 2006 and 2007 may be negatively impacted from the use of drywall made in China, reports the Wall Street Journal. The drywall is being investigated by the U.S. Consumer Product Safety Commission, the Environmental Protection Agency, the Centers for Disease Control and Prevention, state health departments, and others. A number of reports are expected to be released this month and next. Recalls or others actions are expected. We will have a list of stocks to short later today.
Reference www.wsj.com
UQI International Inc. (NASDAQ: FUQI) The Chinese jeweler said that Q2-2009 revenues rose by 50.6% to $100.8 Million as gross margin rose 660 basis points to 17.2%. Net income rose 86.8% to $9.9 million, or $0.45 EPS. To add a bit of juice, it raised its full year revenue and net income guidance. At 8:41 AM EST we show a gain of 13% to $27.61 on some 44,000 shares. As this was the #1 pick from IBD and as this is a 52-week high above the old $25.60 hit this week,
XTO Energy upgraded to Add from Neutral at CapitalOne southcoast; tgt $51 (41.96)
Gerdau GGB posts 2Q net loss of
GGB reports in Q2 net loss as a decline in the value of the company’s assets and tax payments added to the pain of the global economic slowdown. Gerdau reported a second-quarter net loss of 329 million Brazilian reals $181 m down from a net profit of BRL2.12 billion in the same quarter a year ago. Without the non-recurring charges, Gerdau said the company would have posted a second quarter net profit of BRL467 million. Gerdau, the largest long steel maker in the western hemisphere, reported net revenue of BRL6.4 billion in the second quarter, down 42% from BRL11.1 billion a year ago.
ZUMZ gets up grade to Average from Below Average and raises their tgt to $9 from $7 following the co’s July comps of -16.8%. While the firm doesn’t see ZUMZ as out of the woods yet, in regards to their exposure to Western states and their higher price branded product, but things do look less bad as the co heads into back to- school in earnest and even the Western states are showing improvement.
PIPE REPORT July 21, 2009
PIPE Volume Rose in 2nd Quarter, Compared With First
Posted July 21, 2009 12:00PM PST
The second quarter saw a promising increase in PIPE activity, as U.S.-listed companies raised $12.9 billion, or 63% more capital than they did in the first quarter, according to PrivateRaise, the data service of DealFlow Media. The number of deals rose 32% over the first quarter.
Major players in the PIPE market in the first half of the year included Iroquois Capital and Downsview Capital, the only fund managers to invest in more than 10 offerings; and Rodman & Renshaw, which placed 27 PIPEs, three times the number of placements by Lazard, the second most active placement agent. Investors who brought the most cash to the PIPE market were Berkshire Hathaway, which invested $3 billion in a private placement; Aabar Investments PJSC, with $2.6 billion; and Kuwait Investment Authority, with $1 billion. The companies that raised the most capital included four Dow Chemical, with $4 billion; BlackRock, Inc., with $2.8 billion; Daimler AG, with $2.5 billion; and ArcelorMittal, with $1.7 billion.
Data from the first half shows that PIPE financing activity has not returned to levels prevailing before the credit crunch of late 2008 and fickle securities markets depressed most forms of financing. The first half of 2009 saw a 44% drop in deal volume, compared with the year earlier period, and a 68% decline in total investment.
The third and fourth quarters could bring a further rebound towards last year’s numbers. In addition to increased deal flow, second quarter numbers reflect a growing trend in registered shelf offerings or “registered directs.” Companies raised $967.7 million in 57 registered direct offerings last quarter, compared to $417.9 million in 25 first quarter deals. While registered directs accounted for only about 7% of capital raised in the second quarter, the number of shelf statements filed in anticipation of future raises more than doubled from the same quarter last year. The 250 shelf statements filed in the second quarter of this year could be used to raise as much as $39 billion. As much as $72 billion could be raised from shelf statements filed during the entire first half of the year.
Even at the current level of activity they represent a fraction of the total PIPE market, and are not a viable option for the majority of emerging growth companies that remain ineligible for S-3 registration and must rely on the traditional PIPE market for equity capital.
More Action QLGC
QLogic (QLGC) to report Q1 earnings after the market close on Tuesday, July 21, with a conference call scheduled for 5:00 pm ET
NRG Energy on the move (NRG) $24.30 last
Misonix (MSON) awarded for forensic equipment in ChinaMisonix announced receipt of its first award for forensic equipment in China from the company’s distributor CSI Technology/CStrace International.
Equipment will be used by Chinese Law Enforcement in a major city in China. This award came from a competitive bid which focused on quality and performance.
Mid Day report
DuPont: Earnings release NYSE:DD
There is a bottom “W” pattern in progress on the daily chart. Look for DD to trade up to the $29 area, Better than expected .
Advance Micro upgraded to outperform NYSE:AMD
Stocks continue to rally into monday mid day. Stocks continued last week’s rally. All 3 of indices into green territory up 5%
Crude oil prices are up 0.5% and gold is basically flat.
Citigroup NYSE:C options active call option volume of 534,676 contracts compares to put volume of 414,924 contracts. C August 3 straddle at 59c, September 3 straddle at 74c. C over all option implied volatility of 52 is
Stocks on the Move High Volume
Cleveland Bio Labs Inc Nasdaq:CBLI has had a great run today. Shares are trading much higher than the normal volume and the charts look nice. I still plan to sell at the end of the day. Shares are up $.50 to 4.88 or 11% for the day. Chart pattern is a clear breakout. Shares were at 13.00 in mid 2007.
First Bank corp Nasdaq:FBBN also is up more than 30 times the normal volume. Our morning report is right on the money.
Sands NYSE:LVS look for shares to hit 15 later this year. I do think we can pick it some stock in the low 8 range. The stock has had a nice run.
LOS ANGELES: Onions make you cry, add flavor to food and are touted for their medicinal
benefits. Now the Onion has another use powering up Elect
A new system debuts on Friday that converts onion juice into electricity at Gills Onions, the largest fresh onion processor in the United States.
The Oxnard, California-based company expects its new onion-fueled power to reduce its electric bill by $700,000 a year and cut its annual greenhouse gas emissions by up to 30,000 tons.
The happy ending to this green energy tale, however, started with another question: how to get rid of onion waste.
July 20 stocks on the move pre market
NYSE:CIT shares spiked 90% in pre open trade as investors breathed a sigh of relief that bankruptcy appeared off the table for the time being.
CIT is said to be paying 10.5% for the funds, which should enable the troubled small- and medium-sized business lender to meet obligations on about $1 billion in debt coming due in August, the Wall Street journal reported on Monday.
GR:NYSE Goodrich signs long-term agreement with Alp Aviation for F-35 Lightning II landing gear components and assemblies. The agreement covers deliveries.
Cisco: Upgrade breakout shares were upgraded to Outperform at Credit Suisse, with a $25 price target. Friday shares broke out and now are up 2.1% in the pre-market. high at the
$20.35 area, which now becomes support. Resistance levels to watch as potential upside objectives are at $21.18, $22.48.
Citigroup upgraded Allergan to Buy from Hold to reflect increased estimates for Botox and its belief Latisse guidance looks conservative. The firm raised its target on shares to $57 from $45.
Jefferies upgraded Texas Instruments to Hold from Underperform after channel checks indicated business is strengthening. Jefferies believes Texas Instruments’ September quarter guidance will come in better than expected and raised its target on shares to 23 from $16.
July 20, 2009 at 6:26 am Leave a comment