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Conference Board's Consumer Confidence Index unexpectedly fell to 47.7 in October, its second-lowest reading since May, analysts predicted a reading of 53.1. Investors didn’t react well to the news sending stocks lower early in the trading session, however an upbeat report from the S&P/Case-Shiller 20-city home price report added confidence leading stocks to edge higher in the afternoon. The S&P/Case-Shiller 20-city home price index fell 11.3% in August from last year, marking the smallest decline in 19 months, analysts expected a drop of 11.9%. Stocks were mixed at the end of the trading session, the Dow Jones Industrial Average rose 13 points as the Nasdaq Composite Index fell 11 points, and the Standard & Poor’s 500 Index fell 2 points. Commodities were mixed, crude oil rose as gold fell, bond prices however were on the rise, the yield on the benchmark 10-year Treasury note fell to 3.45 from 3.57 Monday.
Free Daily Stock Picks activity and results for October 27, 2009:
ACGL - position entry at 69.43, Stop hit for a loss of 1.00 point
WINN - position entry at 12.45PM, 1st Target Level hit for a gain of 0.31 points
FELE - position entry at 28.14, 3rd Target Level hit for a gain of 1.13 points
RCII - position entry at 18.99PM, 2nd Target Level hit for a gain of 0.76 points
VFC - position entry at 74.36, 1st Target Level hit for a gain of 1.12 points
ZRAN - position entry at 9.20PM, 3rd Target Level hit for a gain of 0.55 points
WMS - position entry at 45.90PM, 3rd Target Level hit for a gain of 1.84 points
LTD - position entry at 18.23PM, 1st Target Level hit for a gain of 0.46points
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(HRS) - buy
Harris reported better-than-expected quarterly net profit on improving sales and raised its full-year profit forecast.
(V) - buy
Visa posted profit for its fiscal Q4, reversing a year-ago loss for a profit of $514 mil or 69 cents p/s on rev of $1.87 bil.
(PNRA) - buy
Panera Bread reported net income of $19 mil or $0.61 p/s for Q3 compared to net income of $14 mil for Q3 2008.
(DWA) - buy
DreamWorks Animation Q3 reported earnings of 19.6 mil or 23 cents p/s compared to analyst estimates of 16 cents p/s.
(FISV) - short
Fiserv revenue for Q3 was $992 million compared with $1.04 billion in 2008.
(PSYS) - short
Psychiatric Solutions posted a quarterly profit that missed market estimates on lower-than-expected rev growth and cut its 2009 profit forecast for the third time this year.
(APOL) - short
Apollo Group reported SEC began informal probe into revenue recognition practice.
(ILMN) - short
Illumina issued a disappointing Q4 outlook.
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Commerce Department reported new home sales fell 3.6% to a seasonally-adjusted annual rate of 402,000 last month, from a rate of 417,000 in August, it marked the first time new home sales fell since March. According to government reports, orders for durable goods rose 1% in September, matching analysts’ expectations, orders fell 2.6% the previous month. Stocks fell in today’s trading session, the Dow Jones Industrial Average fell 111 points, the Nasdaq Composite Index fell 54 points and the Standard & Poor’s 500 Index fell 20 points. Bond prices were rose, the yield on the benchmark 10-year Treasury note fell to 3.40 from 3.45 Tuesday and the dollar rose against most other major currencies. Commodities such as crude oil and gold continued their fall.
Free Daily Stock Picks activity and results for October 28, 2009:
HRS - position entry at 40.50PM, 3rd Target Level hit for a gain of 1.62 points
V - position entry at 74.98PM, 3rd Target Level hit for a gain of 3.00 points
PNRA - position entry at 58.76, 2nd Target Level hit for a gain of 1.76 points
DWA - position entry at 33.00, 1st Target Level hit for a gain of 0.49 points
FISV - position entry at 47.92, 3rd Target Level hit for a gain of 1.92 points
PSYS - position entry at 20.50PM, 3rd Target Level hit for a gain of 0.82 points
APOL - position entry at 61.09PM, stop hit for a loss of 1.00 point
ILMN - position entry at 34.55PM, 2nd Target Level hit for a gain of 1.04 points
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(SYMC) - buy
Symantec beat analyst estimates in its Q2 revenue of $1.48 billion - above the $1.43 billion predicted by Wall Street.
(LNC) - buy
Lincoln National posted Q3 net income of $153 million or 44 cents p/s, compared to $148 million or 58 cents p/s in the prior-year quarter.
(IDCC) - buy
InterDigital Q3 profit more than tripled and blew past market estimates.
(FLS) - short
Flowserve to cut more jobs, take $30 mln charge in Q4 and sees earnings in range of $7.20 to $7.50 p/s down from previous forecast of $7.15 to $7.75 p/s.
(CBG) - short
CB Richard Ellis Group Q3 profits plummeted 69% as recession hurt demand for office space.
(FSLR) - short
First Solar posted quarterly sales far below Wall Street's view and gave an outlook showing competition was hurting prices and dashing hopes for a sector rebound.
(ITRI) - short
Itron posted Q3 results that missed estimates, hurt by lower spending by customers as they await approval of projects that may qualify for stimulus funding.
(MOH) - short
Molina Healthcare withdrew its guidance for Q4 and believes it will not achieve its FY09 EPS guidance of $2.15 (vs. $2.02 consensus). "Due to ... including the 2009 H1N1 flu pandemic.
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(CEC) - buy
CEC Entertainment reported Q3 earnings of $0.55 per share, $0.09 better than consensus of $0.46.
(GNW) - buy
Genworth Financial reported Q3 earnings of $0.24 p/s $0.26 better than consensus.
(ENH) - buy
Endurance Specialty reported Q3 earnings of $2.41 per share, excluding non-recurring items, $0.83 better than consensus.
(BMC) - buy
BMC Software Q2 EPS of $0.66 vs consensus of $0.58 and raised its fiscal 2010 profit outlook for the second time.
(BARE) - buy
Bare Escentuals reported Q3 earnings of $0.24 p/s, $0.03 better than consensus and revenues rose 4.2% yoy to $135.7 mln vs $131.6 mln consensus.
(NVTL) - short
Novatel Wireless warned that revenue from its flagship ****** wi-fi product would be sequentially flat.
(MHK) - short
Mohawk rev fell 21.6% yoy and issues downside guidance for Q4 and commented - "Business conditions remain weak as we move into seasonally slower quarters”
(MFE) - short
McAfee reported quarterly revenue that missed Wall Street projections as sales grew at their slowest rate in almost two years.
(TSRA) - short
Tessera Technologies forecast weak Q4 revenue.
(BEZ) - short
Baldor Electric Reported Q3 earnings of $0.27 p/s revenues fell 24.9% yoy and commented - "It continues to be difficult to forecast sales for 2010.”
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(FDX) - buy
FedEx reported in a regulatory filing on Friday, U.S. IRS revised an employment tax audit notice for 2002 dropped assessment tied to FedEx Ground ind. contractors, including home delivery service.
(GILD) - buy
Gilead Sciences announced 3-year (144-week) open label data from 2 pivotal Phase III clinical trials, Studies 102 & 103 show development of resistance as a significant challenge for practitioners treating patients with chronic hepatitis B.”
(OPTR) - buy
Optimer Pharmaceuticals announced fidaxomicin's North American phase 3 study, "..additional factors with significantly lower recurrence rate and higher global cure rate suggest fidaxomicin has potential to be best in class therapy for CDI."
(MON) - buy
Monsanto welcomed EU authorization of two corn technologies, YieldGard VT Pro(TM) (MON 89034) and YieldGard VT Rootworm/RR2® (MON 88017).
(MI) - buy
M&I Bank received $40 mil NMTCallocation to offer below-mkt rates and less expensive loans for development of office, indtrl, rtl, res and comnty facilities in WI, AZ, FL, IN, ILL, KS, MN & MO.
(KBR) - short
KBR was warned by Pentagon auditors to cut work force face nearly $200 mln in penalties for keeping thousands too many on the payroll.
(F) - short
Ford Motor workers overwhelmingly rejected contract changes allowing them to cut labor costs, leaving Ford at a disadvantage to Detroit rivals, struggling to return to profitability.
(RBS) - short
Royal Bank Ads New is likely to move lower in wake of CIT bankruptcy filing.
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Institute for Supply Management showed nationwide manufacturing activity hurdled to 55.7 in October, from 53 in August, economists had expected a gain to 54, numbers above 50 show growth, while numbers below 50 suggest contraction. On the housing front, the National Association of Realtors reported that the number of signed sales contracts to buy homes rose in September for the eighth straight month, pending home sales rose more than expected, by 6.1%, in September, analysts expected a 1.2% increase. Stocks rose after the news, the Dow Jones Industrial Average rose 74 points, the Nasdaq Composite Index rose 4 points and the Standard & Poor’s 500 Index rose 6 points. Bond prices fell, the yield on the benchmark 10-year Treasury note rose to 3.42 from 3.39 Friday, as the dollar fell against other currencies. Crude oil prices rose $1.13 to $78.13 per barrel, gold rose $13.60 to $1,054.00 an ounce.
Free Daily Stock Picks activity and results for November 2, 2009:
FDX - position entry at 72.84, Stop hit for a loss of 1.00 point
MON - position entry at 67.56, 1st Target Level hit for a gain of 1.01 points
MI - position entry at 5.32PM, 2nd Target Level hit for a gain of 0.27 points
KBR - position entry at 20.45, 3rd Target Level hit for a gain of 0.82 points
RBS - position entry at 12.67PM, 1st Target Level hit for a gain of 0.32 points
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(PNY) - buy
Piedmont issued in-line FY10 earnings guidance of $1.48-1.58 excluding $0.42 in gains versus consensus.
(TXRH) - buy
Texas Roadhouse Q3 net income increased to $10.7 mil or 15 cents p/s from $8.6 mil or 12 cents p/s a year earlier and expects 2009 earnings p/s to be about 20% higher than full-year 2008.
(HLF) - buy
Herbalife reported Q3 earnings of $0.85 p/s, ex non-recurring items, $0.16 better than consensus of $0.69 and issues upside guidance for Q4.
(DLLR) - buy
Dollar Financial posted Q1 profit that topped market estimates and forecast 2010 earnings above expectations.
(HTCH) - buy
Hutchinson reported Q4 loss of $0.04 p/s, ex non-recurring items, $0.04 better than consensus of ($0.08).
(CAR) - buy
Avis Budget Group reported Q3 earnings of $57 million or 54 cents p/s, compared to year-ago loss of $9.91 p/s.
(SVR) - short
Syniverse Holdings posted lower quarterly profit and tightened its full-year revenue outlook.
(KND) - short
Kindred Healthcare forecast 2010 profit below market estimates, citing weakness in Medicare and Medicaid rates.
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(BGFV) - buy
Big 5 Sporting Goods reported better-than-expected quarterly results and forecast a Q4 profit above market estimates.
(INT) - buy
World Fuel Services reported better-than-expected earnings. "Our aviation segment posted strong sequential volume growth, resulting in the first yoy increase in five quarters…," Chief ****utive Paul Stebbins.
(EZM) - buy
Excel Maritime Carriers reported Q3 earnings of $0.81 per share, $0.79 better than consensus of $0.02.
(SGY) - buy
Stone Energy reported Q3 profit that beat estimates, income was $51.1 mil or $1.06 p/s compared to $34.1 mil or $1.04 p/s a year ago and operating rev rose 18%.
(OKE) - buy
ONEOK reported Q3 earnings of $0.45 p/s, $0.22 better than consensus of $0.23 and raises guidance for FY09.
(DVA) - buy
DaVita reported Q3 earnings of $1.06 per share, $0.07 better than consensus and revenues rose 8.8% year/year and are raising operating income guidance.
(STEC) - short
Stec warned that key customer, EMC Corp would carry 2009 inventory into 2010, putting Q1 results at risk.
(EP) - short
El Paso slashed its dividend and announced several other measures to save or raise cash.
(CRL) - short
Charles River Laboratories International posted a 18% drop in quarterly profit and cut 2009 earnings forecast.
(TRLG) - short
True Religion Apparel quarterly profit missed estimates and full-year forecast fell short of expectations.
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(THOR) - buy
Thoratec posted a better-than-expected Q3 net income $11.8 mln or 20 cents p/s, compared with $6.1 mln or 11 cents p/s, a year ago.
(CECO) - buy
Career Education reporte Q3 of $0.25 p/s, $0.11 better than consensus of $0.14; revenues rose 14.1% yoy to $459.9 mln vs $437.3 mln consensus.
(THQI) - buy
THQ lost less in the third quarter than it did a year earlier because it lowered its operating costs.
(DOX) - buy
Amdocs Ltd posted better-than-expected quarterly profit Q4 adj. EPS $0.53 vs est of $0.49 and forecast a strong Q1.
(EPR) - short
Entertainment Properties Trust Q3 loss and revenue fell 9% from the same period last year.
(MUR) - short
Murphy Oil reported net income from July to September tumbled 68% to $188.9 mln or 98 cents a share.
(GDP) - short
Goodrich Petroleum reported a Q3 loss and expects q4 drilling and completion capital expenditures of $35 mln to $40 mln , down from $41 mln in Q3.
(VARI) - short
Varian reported Q4 of $0.40 p/s, ex non-recurring items, $0.28 worse than consensus of $0.68; revenues fell 30.4% yoy to $196.5 mln vs $225.6 mln consensus.
(WFMI) - short
Whole Foods Market announced a share dilution and gave lower than expected fiscal 2010 view.
(ALL) - short
Allstate posted catastrophe losses of $407 mln , down about 78% from $1.82 bln it recorded in the year-ago period.
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