8.08.2010

Aug 9

  • Monday is a difficult day to predict what stocks will do, but my number one pick is AMD.
  • Stock averages clawed back late in the day, as the DJIA recoups a triple-digit slide to end just in the red. For the week, the DJIA ends up 1.8%, while the S&P 500 was also up 1.8% this week, down 0.4% Friday. The Nasdaq Composite advanced 1.5% for the week, shaving 0.2% from that advance today.
  • Healthcare and consumer staple stocks fronted the recovery. Stocks tumbled broadly out of the chute in reaction to the early morning jobs report, a miss for Wall Street.
  • The nation's unemployment rate held steady at 9.5%. Economists thought it might tick up to 9.6%.
  • BP shares were higher in the regular session after the company said cement poured into the damaged Gulf of Mexico well appeared to be staunching the flow. "All of the indications, so far, look very encouraging," said Doug Suttles, BP's chief operating officer for exploration and production, Reuters reported.
  1. Advanced Micro Devices, Inc. (AMD:$7.4500,$-0.0500,-0.67%) announced that Apple has selected the world renowned ATI Radeon(TM) graphics solutions for the new line of Apple(R) iMac(R) and Mac Pro(R) tower.
    • Long, because of the deals with Apple and that its at a sup level, which I see it bouncing off of and hitting res 7.7.
  2. Hewlett-Packard Co. (HPQ:$41.849998,$-4.500000,-9.71%) shares made a swift descent Friday evening in heavy volume after the technology company heavyweight's chief executive resigned in the wake of a sexual-harassment investigation.
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  3. Shares of Lattice Semiconductor (LSCC:$5.44,00$0.10,001.87%) were down after the company said Bruno Guilmart has resigned as President and CEO effective September 4, 2010, to pursue other opportunities.
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  4. American International Group Inc (AIG/PA:$8.100000,$0.090000,1.12%) AIG tops view, starts talks on gov't exit, has unwound 66% of its derivatives positions since the end of 2008.

  5. GT Solar International Inc (SOLR:$8.00,00$0.19,002.43%) got upgraded by UBS from Neutral to Buy.

  6. Thompson Creek Metals Co. (TC:$9.7700,$0.4000,4.27%) swung to a profit during the second quarter on higher molybdenum prices while keeping its costs under control, although the company's chief executive warned the outlook for molybdenum was "somewhat muted" due to economic uncertainty.

  7. Novavax (NVAX:$2.22,00$-0.06,00-2.63%) says Q2 net loss was $0.09 per share, a penny better than the Thomson Reuters mean.

  8. Royal Bank of Scotland Group plc (RBS:$16.5700,$0.0300,0.18%) reported earnings results that swung to a profit, but gave up early after hours gain.

  9. Shares of Activision Blizzard (ATVI:$10.99,00$-0.76,00-6.47%) fell more than 5% Friday morning, after the videogame publisher reported weaker-than-expected adjusted sales. Activision on Thursday posted a 12% quaterly profit gain. But its adjusted revenue of $683 million fell short of Wall Street estimates. 
    • Basically, disappointing revenue and guidance brought this companies shares down.
  10. PowerSecure International Inc. (POWR:$9.75,00$-1.27,00-11.52%) slid Friday on concerns about the energy management company's expenses, overshadowing its better-than-expected second-quarter results.
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  11. China Sunergy Co.'s (CSUN:$4.52,00$-0.32,00-6.61%) second-quarter earnings soared as the Chinese solar-cell maker continued to see demand rebound, but revenue missed.

  12. Genzyme (GENZ:$69.18,00$-0.15,00-0.22%) shares were flat in pre-market trading as the company was reportedly downgraded to Neutral from Overweight at Piper Jaffray.
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  13. Shares of Autodesk Inc. (ADSK:$28.77,00$-1.53,00-5.05%) tumbled more than 4% Friday morning, as a Jefferies & Company analyst downgraded the stock to hold from buy, citing signs of weakening growth in Europe.
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  14. Blue Nile Inc (NILE:$45.26,00$-2.28,00-4.80%), crossed below its 52-week low of $44.91 on 9:34 AM ET on August 06, 2010.
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  15. Barclays PLC (BCS:$20.9500,$0.1500,0.72%), Barclays down 2.2% after being downgraded at UBS to neutral from buy.  
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A Look Ahead: Major Corporate & Economic Events, Aug. 9 to Aug. 13
MONDAY, Aug. 9
Extended-Hours Earnings: ACAD, ABK, AMED, ASEI, ANIK, ANSW, ARRY, ATHX, AVII, BCON, BIDZ, BBBB, BLT, CPST, CAAS, CFSG, CHDX, CCO, CVG, CTRP, DISH, DTSI, EBIX, ERES, FTEK, FXEN, WILC, GNK, GA, GLAD, GTXI, HIMX, NRGY, IPAR, ISIS, KG, LXRX, MBI, MDR, MDVN, MNTG, NUAN, OTIV, OSTE, PRXL, PETD, PRST, QGEN, KWK, SOL, SALM, SLXP, SCLN, SNI, SWSI, THQI, TSN, PANL, VSAT, WAVX, XOMA
Economic Data: None.

TUESDAY, Aug. 10
Extended-Hours Earnings: AONE, AMRN, ATAI, CHINA, COIN, CREE, DPTR, ESEA, FOSL, IT, GILT, HOGS, JASO, JAZZ, LDK, LTRE, LUNA, LIME, MRGE, MYGN, RMKR, RCNI, SLRY, SBLK, STKL, SYMM, SPWRA, SYX, SMG, TIER, TSEM, TWTC, YTEC.
Economic Data: 8:30 a.m. Productivity; 10 a.m. Wholesale Inventories; 2:15 p.m. FOMC Rate Decision.

WEDNESDAY, Aug. 11
Extended-Hours Earnings: AAP, ADLS, AMCN, ARCL, ASUR, CECE, GRRF, CSCO, CSC, HILL, EDMC, EDGR, EJ, XJT, GIVN, GLOW, IDSY, ING, JCDA, M, MFB, RTLX, SCIL, SOMX, TK, URS, WEBM, XRM.
Economic Data: 8:30 a.m. Trade Balance; 10:30 a.m. Crude Inventories; 2 p.m. Treasury Budget.

THURSDAY, Aug. 12
Extended-Hours Earnings: AEZS, ABTL, ADSK, BYI, BLTI, EPAY, EAT, BSQR, COSI, DV, RDEN, FTK, GIL, MAIL, INTX, KSS, JWN, CHUX, PRGO, PUK, RRGB, RGLD, SLE, SHOR, SORL, EL, THI, WEN, RNIN.
Economic Data: 8:30 a.m. Initial Claims; Import/Export Prices.

FRIDAY, Aug. 13
Extended Hours Earnings: AMOT, JCP, PBR.
Economic Data: 8:30 a.m. CPI; Retail Sales; 9:55 a.m. Michigan Sentiment; 10 a.m. Business Inventories.
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