Top 10 News Items: Stocks Rally To Start September, Jobs Better Than Expected, M&A Fever Sep 3, 2010 04:31PM

Here is a recap of the top news items from this week on Wall Street:

1. After a horrible August, the first few trading days of September had investors pouring money back into stocks. The S&P 500 is up 5 percent so far this month.

2. Friday brought the much-anticipated jobs number, which surprised to the upside. Nonfarm payrolls in August were down 54,000, as 114,000 temporary census jobs were ended and state and local governments cut 10,000 positions. Economists had been looking for a loss of 105,000 jobs. The report showed that the private sector added a net total of 67,000 new jobs last month, higher than the economist estimate do a rise of 40,000 jobs.

3. The frenzied bidding war for 3Par (NYSE: PAR) came to an end this week after Hewlett Packard (NYSE: HPQ) raised its offer to $33 per share and Dell (Nasdaq: DELL) was unwilling to top it. Bidding for 3Par started on August 16, when Dell announced an agreement to acquire the company for $18 per share, which was a hefty premium to the prior day's close of $9.65.

4. Burger King Holdings Inc. (NYSE: BKC) agreed to be acquired for $3.26 billion by the private-equity firm 3G Capital, or $4 billion with the assumption of the company’s debt.

5. Manufacturing date on Wednesday showed it is a rare bright spot for the sluggish economy. The Institute for Supply Management said Wednesday that its manufacturing Index rose to 56.3 in August, as the manufacturing sector continues to the be the driving force in the economic recovery. The reading was up from 55.5 in July. Economists had expected the ISM index to fall to 52.8 last month as fears of a double-dip recession gripped the economy. A reading above 50 signals growth.

6. Consumer confidence showed a rebound. The Conference Board, a private research group, reported Tuesday that its consumer confidence index rose to 53.5 in August from an upwardly revised 51.0 last month. The original reading for July was reported at 50.4.

7. The SEC is probing the practice of "quote stuffing," which is a practice of trading in unusually large numbers to buy or sell stocks in fractions of a second that are almost immediately canceled, causing a distortion of stock prices.

8. With M&A action hot and heavy this week, the rumor mill was in overdrive. Some notable names getting takeover chatter this week were Saks (NYSE: SKS), Compellent Technologies, Inc. (NYSE: CML), Brocade (Nasdaq: BRCD), Wendy's (NYSE: WEN), and ArcSight, Inc. (ARST). Track all the latest developments in M&A at StreetInsider.com's M&A Central.

9. Goldman Sachs (NYSE: GS) and JPMogan (NYSE: JPM) both shuttered some prop-trading operations to comply with the Volcker rule. Goldman is reported closing its principal-strategies unit. JPMorgan (NYSE: JPM) is closing its commodities trading unit.

10. Apple (Nasdaq: AAPL) held an event Wednesday and wowed loyalists with an update iPod line-up and new smaller, cheaper Apple TV product.


Trading Radar for 09/07: Flow Int'l (FLOW), Pep Boys (PBY), Casey's (CASY), Navistar (NAV) Report Sep 3, 2010 03:20PM

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session:

Before The Market Opens
Earnings:

Animal Health International, Inc. (Nasdaq: AHII) - consensus EPS $0.10
Casey's General Stores (Nasdaq: CASY) - consensus EPS $0.81
Pike Electric Corp. (Nasdaq: PIKE) - consensus EPS $0.00

After the Market Closes

China Mass Media Corp (NYSE: CMM) - consensus EPS $0.04
Comarco, Inc. (Nasdaq: CMRO) - consensus loss $0.03
DJSP Enterprises Inc. (Nasdaq: DJSP) - consensus EPS $0.29
Flow International (Nasdaq: FLOW) - consensus loss $0.03
Mitcham Industries (Nasdaq: MIND) - consensus loss $0.06
Navistar (NYSE: NAV) - consensus EPS $1.36
NCI Building Systems, Inc. (NYSE: NCS) - consensus loss $0.64
Pep Boys (NYSE: PBY) - consensus EPS $0.19
Phillips-Van Heusen (NYSE: PVH) - consensus EPS $0.54

Subscribe to EasyStockAlerts and get real-time e-mail alerts when news hits your stocks!


Notable 52-Week Highs and Lows of the Day 09/03: LVS, AAU. NFLX High; CLDX, COIN, SYUT Low Sep 3, 2010 02:52PM

This report is an intraday check of some of the more notable stocks that have hit a 52-week high or low so far today.

52-Week High:


  • Las Vegas Sands Corp. (NYSE: LVS) high of $31.34. LVS is shrugging-off a Citi report today, which has the firm reiterating their Sell rating on the stock, and shot up about 4.2% to reach a new 52-week high. Many other gaming stocks are seeing some positive upside today as well.

  • Almaden Minerals Ltd. (AMEX: AAU) high of $2.94. The miner may be seeing some upside today from Goldcorp's (NYSE: GG) $3.4 billion acquisition of Andean Resources Ltd. Shares soared over 33% today to the new 52-week high.

  • Netflix, Inc. (Nasdaq: NFLX) high of $142.50. Reaching another 52-week high this week. Shares received some positive reinforcement earlier in the week when Apple (Nasdaq: AAPL) announced that their iTV would carry Netflix.


52-Week Low:

  • Celldex Therapeutics, Inc. (Nasdaq: CLDX) low of $2.91. Dropped about 39% today as Pfizer (NYSE: PFE) announced that they would pull-out of rindopepimut development.

  • Converted Organics Inc. (Nasdaq: COIN) low of $0.36. Announced that they filed a registration to sell up to 2,314,814 shares of Common Stock on behalf of Selling Shareholders. The offering comes after the company filed an 8.04 million common shelf at the end of July, and announced reductions to it staff.

  • Synutra International Inc. (Nasdaq: SYUT) low of $10.08. Saw a little pop on Wednesday, when the company said it would seek a formal apology from Phoenix Satellite Television Holdings Limited and its Beijing subsidiary, Phoenix New Media Inc. No response has been received, so the company will move forward with legal proceedings. Synutra recently saw a drop off after reporting their first quarter earnings earlier in August, and then saw negative coverage that linked Synutra to premature development of infants who ingested milk powder used in infant formula made by Synutra.


Unusual 11 Mid-Day Movers 09/03: DSTI, AAU, REDF, ULTA, TBI, FNSR Higher; CLDX, SEAC, ZQK, CASC, BTH Lower Sep 3, 2010 12:55PM

DayStar Technologies Inc. (Nasdaq: DSTI) 27.0% HIGHER; seeing a bounce today after shares have fallen 32% since mid August, and more than that since mid-July. Volume increased above the $1.65 level today, a possible short squeeze. Overall volume is about double the normal three-month average.

Celldex Therapeutics, Inc. (Nasdaq: CLDX) 25.9% LOWER; Pfizer (NYSE: PFE) is pulling out of rindopepimut development. Pfizer said that the program is "is no longer a strategic priority" for the company.

Almaden Minerals Ltd. (AMEX; AAU) 21.8% HIGHER; may be seeing some upside today from the $3.4 billion acquisition of Andean Resources by Goldcorp. (NYSE: GG).

Rediff.com India Ltd. (Nasdaq: REDF) 18.8% HIGHER; higher today as reports of Yahoo! (Nasdaq: YHOO) losing South Korean partner NHN Corp., based on their alliance with Microsoft (Nasdaq: MSFT). Yahoo and NHN's search advertising contract is set to expire in November 2010. The move is the second time an Asian partner as dumped Yahoo!, with the last being Yahoo Japan, which is switching to a Google-based search engine.

Ulta Salon, Cosmetics & Fragrance, Inc. (Nasdaq: ULTA) 18.3% HIGHER; reports Q2 adjusted EPS of $0.25, 7 cents better than the analyst estimate of $0.18. Revenue for the quarter was $321.8 million, which compares to the estimate of $314.86 million. Q3 EPS of $0.18 - $0.20, versus $0.16 consensus. Also sees Q3 revs of 324 - 330 million, versus $325 million consensus.

SeaChange (Nasdaq: SEAC) 16.3% LOWER; reports Q2 EPS of $0.10, versus the analyst estimate of $0.13. Revenue for the quarter was $51.6 million, which compares to the estimate of $53.99 million. Sees FY10 revs of $215 - $220 million, down from $225 - $235 million prior, and compared to the consensus of $231.8 million.

TrueBlue, Inc. (NYSE: TBI) 14.4% HIGHER; the staffing company is seeing upside today on a solid jobs report.

Finisar (Nasdaq: FNSR) 13.9% HIGHER; reports Q1 EPS of $0.31, 8 cents better than the analyst estimate of $0.23. Revenue for the quarter was $ 207.9million, which compares to the estimate of $200.98 million. Sees Q2 sales $215 - $230 million, versus $206 million consensus.

Quiksilver Inc. (NYSE: ZQK) 10.5% LOWER; lower following Q3 results.

Cascade Corporation (Nasdaq: CASC) 10.3% LOWER; reports Q2 EPS of $0.29, versus the analyst estimate of $0.50. Revenue for the quarter was $97.7 million, which compares to the estimate of $93.42 million.

Blyth, Inc. (NYSE: BTH) 7.0% LOWER; following the company's Q2 results yesterday, which saw an EPS of $0.09 on revs of $180.6 million, C.L. King downgraded the shares from Buy to Neutral, keeping their $53 price target.

To get this report daily visit http://www.streetinsider.com/entities/Unusual+11+Mid-Day+Movers..


Notable ETF Movers of the Day 09/03: XLF, XRT, SPY Higher; USO. GLD, VXX Lower Sep 3, 2010 12:37PM

Gainers


  • Financial Select Sector SPDR (NYSE: XLF) up 1.41% to $14.42. Goldman Sachs (NYSE: GS) is leading the financials higher today, on better-than-average volume, heading north of 4.2% today. The markets are up overall today as nonfarm payroll numbers showed 67,000 net additions of jobs in the private sector (which excludes census workers).

  • SPDR S&P Retail (NYSE: XRT) up 1.07% to $38.59. Retailers have produced and overall solid August showing, and retail sales across the pond are up 1.1% year-over-year, producing a good environment for this ETF to gain today.

  • SPDR S&P 500 (NYSE: SPY) up 0.69% to $110.23. Reiterating that the markets are up on mostly solid economic data this week. The PowerShares QQQ (Nasdaq: QQQQ) is also up 1.04% today.


Receders

  • United States Oil (NYSE: USO) down 1.98% to $32.74. Oil is seeing some downside today as the ISM Services index came in a 51.5, lower than the consensus of 53.0, and below the 54.3 reported for July. A lower ISM number indicates that non-manufacturing industries are growing at a slower rate, or receding if the previous number is higher. Earlier in the week, the EIA reported that oil stockpiles increased 4.04 million barrels.

  • SPDR Gold Shares (NYSE: GLD) down 0.34% to $121.878. The gold ETF is down for the second straight day today as investors are reacting to jobs numbers today, along with solid August retail sales numbers earlier in the week. Gold is seen as a safe-haven to more volatile equities, and investors may be willing to take on more risk upon economic recovery.

  • iPath S&P 500 VIX Short-Term Futures ETN (NYSE: VXX) down 3.14% to $19.42. The CBOE VIX volatility index is trading about 3.41% lower today as investors may be sneaking their way back into more risky assets on beliefs of a stronger economic recovery.


More Special Reports

View Older Stories

Sep 3, 2010 11:02AM Morning Movers 9/3: DSIT, REDF, ULTA, FNSR, TTWO, OCLR, HRB, CCO Higher; CLDX, SEAC, ZQK, CML, SKS, GG, WLT, ARST Lower
Sep 3, 2010 10:39AM Notable Mergers and Acquisitions of the Day 09/03: GG, FLIR/ICXT, WAG/OCR
Sep 3, 2010 10:35AM Notable Analyst Rating Changes 09/03: BKE, KSP, DRIV, LAYN Upgraded; MITL, BKC, TTWO, AEO Downgraded
Sep 2, 2010 06:01PM After-Hours Movers 09/02: TTWO, FNSR, ULTA, HRB, COO Up; SEAC, WLT Lower
Sep 2, 2010 03:37PM Trading Radar for 09/03: Campbell Soup (CPB) Reports
Sep 2, 2010 03:00PM Notable 52-Week High's and Low's of the Day 09/02: PAR, AKAM, SPRD, MRX High; HERO, PSS Low
Sep 2, 2010 12:34PM Unusual 11 Mid-Day Movers 09/02: BKC, OREX, SCMR, HWD, PIR, ETM Higher; MEI, CGA, MOV, PSS, LOCM Lower
Sep 2, 2010 11:49AM Notable ETF Movers of the Day 09/02: SPY, XRT, GLD Higher; VXX, USO, UUP Lower
Sep 2, 2010 11:02AM Morning Movers 9/2: BKC, SCMR, HWD, PIR, MPEL, JWN, CRME, UTIW, ZUMZ, JACK, WEN, PAR Higher; MOV, MATK, PSS, AZPN, ANF, CGA, TSN Lower
Sep 2, 2010 10:49AM Notable Mergers and Acquisitions of the Day 09/02: PAR/HPQ, BKC, HTZ/DTG/CAR
Sep 2, 2010 10:46AM Notable Analyst Rating Changes 09/02: HPQ, RTP, MPEL, ZUMZ Upgraded; PPL, VALE, CRH, AMPH Downgraded
Sep 1, 2010 05:58PM After-Hours Movers 09/01: CRME Up; CGA, PSS Down
Sep 1, 2010 03:38PM Trading Radar for 09/02: Zale (ZLC), H & R Block (HRB), Take-Two (TTWO), ArcSight (ARST) Report
Sep 1, 2010 02:39PM Notable 52-Week High's and Low's of the Day 09/01: Q, SONS, CRM Higher; CHRS, KSP, WINN Lower
Sep 1, 2010 01:14PM Unusual 11 Mid-Day Movers 09/01: SLRY, SRZ, AMPH, GIII, BKC, JOSB Higher; CHRS, ARAY, ULTA, BF-B, LTXC Lower
Sep 1, 2010 12:08PM Notable ETF Movers of the Day 09/01: SPY, XRT, XLF Higher; VXX, UUP, GLD Lower
Sep 1, 2010 11:02AM Morning Movers 9/1: SLRY, SRZ, AMPH, GIII, JOSB, SONS, BKC, SDRL, CCUR, JOYG Higher; BF-B, CSTR Lower
Sep 1, 2010 10:39AM Notable Mergers and Acquisitions of the Day 09/01: CASY, AMPH/PRA, PFE
Sep 1, 2010 10:32AM Notable Analyst Rating Changes 09/01: SCHW, WDC, MEE, BBD Upgraded; POT, SKS, HCBK, CF Downgraded
Aug 31, 2010 05:52PM After-Hours Movers 8/31: SRZ, NG, CCUR Higher; FORM, NLST, ABM Lower
Aug 31, 2010 03:57PM Trading Radar for 09/01: Borders Group (BGP), HJ Heinz (HNZ), SAI Corp. (SAI), FuelCell Energy (FCEL) Report
Aug 31, 2010 02:12PM Notable 52-Week High's and Low's of the Day 08/31: LGF, SPRD, ARMH High; INTC, RIMM, WINN, CSCO Low
Aug 31, 2010 01:04PM Unusual 11 Mid-Day Movers 08/31: SKH, SKS, CPY, ICAD, ENER, LGF Higher; ISLE, WINN, HTCH, MCCC, STRA Lower
Aug 31, 2010 11:32AM Notable ETF Movers of the Day 08/31: XME, GLD, XRT Higher; UNG, EWJ, VXX Lower
Aug 31, 2010 10:37AM Morning Movers 8/31: SKS, LGF, ENER, ALIM, MEOH Higher; MCCC, ISLE, MON, RAX Lower
Aug 31, 2010 10:25AM Notable Mergers and Acquisitions of the Day 08/31: DE/EXC, LGF, MMM
Aug 31, 2010 10:20AM Notable Analyst Rating Changes 08/31: GPS, ANF, BMY, UBS Upgraded; HPQ, DGIT, RAX, POT Downgraded
Aug 30, 2010 06:10PM After-Hours Movers 8/30: SKS. ALIM, ATMI Higher; SWS Lower
Aug 30, 2010 03:53PM Trading Radar for 08/31: Dollar General (DG), Applied Signal (APSG), Culp (CPI), Silicon Graphcs (SGI) Report
Aug 30, 2010 03:04PM Notable 52-Week High's and Low's of the Day 08/30: PTEC, SOL, VHC, FOSL High; DGIT, SCHW, JCG Low
Aug 30, 2010 01:20PM Unusual 11 Mid-Day Movers 08/30: ADAM, HTCH, COGT, REE, PSTI, IMGN Higher; DGIT, KUTV, EMMS, SKH, LULU Lower
Aug 30, 2010 12:09PM Notable ETF Movers of the Day 08/30: UNG, VXX Higher; XLF, SMH, EWZ Lower
Aug 30, 2010 10:43AM Notable Mergers and Acquisitions of the Day 08/30: SNY/GENZ, COGT/MMM, INTC/IFNNY
Aug 30, 2010 10:30AM Notable Analyst Rating Changes 08/30: SNY, RTN, NBL, CAVM Upgraded; LMT, LULU, TXN, AZO Downgrade
Aug 30, 2010 10:12AM Morning Movers 8/30: ADAM, COGT, CRNT, FOSL, CSGS, GENZ Higher; DGIT, LULU, PAR, INTC Lower
Aug 27, 2010 05:08PM Top 10 News Items: Frenzied Bidding War for 3Par, Bernanke Stands Ready, Intel Warns But Trades Higher
Aug 27, 2010 04:19PM Notable 52-Week High's and Low's of the Day 08/27: NZ, ARUN, ARST, FTNT High; IMGN, STX, JCG Low
Aug 27, 2010 03:25PM Trading Radar for 08/30: Winn-Dixie (WINN), Partner Com. (PTNR), Origin Agritech (SEED) Report
Aug 27, 2010 01:04PM Notable ETF Movers of the Day 08/27: SPY, XHB, XLE Higher; UNG, VXX, FXY Lower
Aug 27, 2010 01:00PM Unusual 11 Mid-Day Movers 08/27: NZ, WPCS, PAR, DLLR, CML, PRLS Higher; IMGN, OVRL, EFOI, JCG, UEPS Lower
Aug 27, 2010 10:53AM Morning Movers: NZ, PAR, DLLR, MCRS, ARUN, SPWRA, BEBE, ARST, FIRE, TSO Higher; IMGN JGG, TIF
Aug 27, 2010 10:40AM Notable Mergers and Acquisitions of the Day 08/27: HPQ/PAR/DELL, HS, MDCI
Aug 27, 2010 10:37AM Notable Analyst Rating Changes 08/27: SPWRA, GOK, TSO, MW Upgraded; VSAT, FBR Downgraded
Aug 26, 2010 05:56PM After-Hours Movers 8/26: NZ, PAR, LAVA, BEBE, MCRS, IMMU, IFLG Higher; JCG, OVTI, QADI, DLLR Lower
Aug 26, 2010 03:31PM Trading Radar for 08/27: Tiffany & Co. (TIF), Frontline (FRO), Golar LNG (GLNG) Report
Aug 26, 2010 03:27PM Notable 52-Week High's and Low's of the Day 08/26: RHT, MIPS, SLW HIgh; TRMA, RUE, SCON Low
Aug 26, 2010 01:34PM Unusual 11 Mid-Day Movers 8/26: RPC, GOK, GRB, DRL, ZANE, JAS Higher; DVOX, EFOI, SCON, GIGM, RUE Lower
Aug 26, 2010 12:19PM Notable ETF Movers of the Day 08/26: USO, FXE, MOO Higher; UNG, VXX, SMH Lower
Aug 26, 2010 11:03AM Morning Movers 8/26: GOK, RPC, GRB, DRL, JAS, CERP, NYNY Higher; DVOX, SCON, TBAC, GES, RUE Lower
Aug 26, 2010 10:51AM Notable Analyst Rating Changes 08/26: PAYX, GBX, NBG, HEI Upgraded; TSM, SCHW, SAI, NDAQ Downgraded
View Older Stories