Japan Dominates Markets
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Various markets in the US are being dominated by the events taking place in Japan in the aftermath of last week's devastating earthquake and tsunamis.
Japan's Nikkei 225 fell an astonishing 6.2 percent, or 634 points, after reopening for trading today. The fall came despite a record 15 trillion yen ($183 billion) liquidity infusion by the Bank of Japan into money markets. In the US. the Dow is down 100, the Nasdaq is down 21 and the S&P 500 is down 9 points.
Below is a rundown of the impact the Japan news is having on various markets and sectors:
Crude:
Crude continued Friday's fall as developments in Japan overshadow continued violence in Northern Africa and the Middle East. Light Sweet Crude and WTI crude both fell below $100 and are now just above that level.
Japan ADSs:
Hardly any Japan company has been unaffected by the earthquake. Some of the biggest and most well known Japanese stocks that trade in the US are down across the board Toyota Motor Corp. (NYSE: TM) down 5%, Sony Corporation (NYSE: SNE) down 8%, Honda Motor Co., Ltd. (NYSE: HMC) down 5%, Panasonic Corporation (NYSE: PC) down 7%, Hitachi Ltd. (NYSE: HIT) down 15%, Nippon Telegraph & Telephone Corp. (NYSE: NTT) down 4%.
Nuclear Stocks:
With a major nuclear crisis ongoing in Japan, the stocks of companies that are involved in the sector are under pressure as worries mount that there will be a pullback in activity. Nuclear service companies are down: Shaw Group Inc. (NYSE: SHAW) is down 20%, The Babcock & Wilcox Company (NYSE: BWC) is down 9%, URS Corporation (URS) is down 3%, General Electric Co. (NYSE: GE) is down 2%, Fluor Corporation (FLR) is down 1%. Uranium companies are down: Cameco Corp. (NYSE: CCJ) is down 16%, Denison Mines (AMEX: DNN) is down 25%, Uranium Resources, Inc. (Nasdaq: URRE) is down 23%, Uranium Energy Corp. (AMEX: UEC) is down 22%, Uranerz Energy Corp. (AMEX:URZ) is down 26%.
Solar Stocks:
Solar stocks are benefiting as the fallout in the nuclear sector could see more energy companies using solar. First Solar, Inc. (Nasdaq: FSLR) is up 4%, Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 4%, LDK Solar Co., Ltd. (NYSE: LDK) is up 6%, SunPower Corporation (Nasdaq: SPWRA) is flat, Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) is up 6%, Trina Solar Ltd. (NYSE: TSL) is up 8%,ReneSola Ltd. (NYSE: SOL) is up 6%, JA Solar Holdings Co., Ltd. (Nasdaq: JASO) is up 5%.
Refinery Stocks:
Refinery stocks are higher as the situation in Japan could improve spreads and the companies could help supply the country. Valero Energy Corp. (NYSE: VLO) is up 3%, Tesoro Corporation (NYSE: TSO) is up 7%, Frontier Oil Corp. (NYSE: FTO) is up 3%, Western Refining Inc. (NYSE: WNR) is up 3%, Holly Corporation (NYSE: HOC) is up 2%, Alon USA Energy, Inc. (NYSE: ALJ) is up 4%.
Insurance stocks:
'CAT' bond providers with exposure to Japan are under pressure: Flagstone Reinsurance Holdings SA (NYSE: FSR) is down 6%. Platinum Underwriters Holdings Ltd. (NYSE: PTP) is down 2.5%. Medial service provider AFLAC Inc. (NYSE: AFL) is down 3.6% despite saying it seems limited impact from the events.
Memory:
A number of DRAM suppliers have stopped quoting prices following the earthquake in Japan, this could benefit Micron Technology Inc. (NYSE: MU), which is up 2%. Also NAND prices could increase, which would benefit SanDisk (Nasdaq: SNDK), although the stocks is down 2%.
US-based Companies:
A number of US-based companies that get a significant portion of their revenue from Japan are under pressure today: The Coca-Cola Company (NYSE: KO) is down 1.6%, Tiffany & Co. (NYSE: TIF) is down 6%, Coach Inc. (NYSE: COH) is down 6%, Starbucks Corp. (Nasdaq: SBUX) is down 1.7%, McDonald's Corp. (NYSE: MCD) is down 1%.
Japan's Nikkei 225 fell an astonishing 6.2 percent, or 634 points, after reopening for trading today. The fall came despite a record 15 trillion yen ($183 billion) liquidity infusion by the Bank of Japan into money markets. In the US. the Dow is down 100, the Nasdaq is down 21 and the S&P 500 is down 9 points.
Below is a rundown of the impact the Japan news is having on various markets and sectors:
Crude:
Crude continued Friday's fall as developments in Japan overshadow continued violence in Northern Africa and the Middle East. Light Sweet Crude and WTI crude both fell below $100 and are now just above that level.
Japan ADSs:
Hardly any Japan company has been unaffected by the earthquake. Some of the biggest and most well known Japanese stocks that trade in the US are down across the board Toyota Motor Corp. (NYSE: TM) down 5%, Sony Corporation (NYSE: SNE) down 8%, Honda Motor Co., Ltd. (NYSE: HMC) down 5%, Panasonic Corporation (NYSE: PC) down 7%, Hitachi Ltd. (NYSE: HIT) down 15%, Nippon Telegraph & Telephone Corp. (NYSE: NTT) down 4%.
Nuclear Stocks:
With a major nuclear crisis ongoing in Japan, the stocks of companies that are involved in the sector are under pressure as worries mount that there will be a pullback in activity. Nuclear service companies are down: Shaw Group Inc. (NYSE: SHAW) is down 20%, The Babcock & Wilcox Company (NYSE: BWC) is down 9%, URS Corporation (URS) is down 3%, General Electric Co. (NYSE: GE) is down 2%, Fluor Corporation (FLR) is down 1%. Uranium companies are down: Cameco Corp. (NYSE: CCJ) is down 16%, Denison Mines (AMEX: DNN) is down 25%, Uranium Resources, Inc. (Nasdaq: URRE) is down 23%, Uranium Energy Corp. (AMEX: UEC) is down 22%, Uranerz Energy Corp. (AMEX:URZ) is down 26%.
Solar Stocks:
Solar stocks are benefiting as the fallout in the nuclear sector could see more energy companies using solar. First Solar, Inc. (Nasdaq: FSLR) is up 4%, Suntech Power Holdings Co. Ltd. (NYSE: STP) is up 4%, LDK Solar Co., Ltd. (NYSE: LDK) is up 6%, SunPower Corporation (Nasdaq: SPWRA) is flat, Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) is up 6%, Trina Solar Ltd. (NYSE: TSL) is up 8%,ReneSola Ltd. (NYSE: SOL) is up 6%, JA Solar Holdings Co., Ltd. (Nasdaq: JASO) is up 5%.
Refinery Stocks:
Refinery stocks are higher as the situation in Japan could improve spreads and the companies could help supply the country. Valero Energy Corp. (NYSE: VLO) is up 3%, Tesoro Corporation (NYSE: TSO) is up 7%, Frontier Oil Corp. (NYSE: FTO) is up 3%, Western Refining Inc. (NYSE: WNR) is up 3%, Holly Corporation (NYSE: HOC) is up 2%, Alon USA Energy, Inc. (NYSE: ALJ) is up 4%.
Insurance stocks:
'CAT' bond providers with exposure to Japan are under pressure: Flagstone Reinsurance Holdings SA (NYSE: FSR) is down 6%. Platinum Underwriters Holdings Ltd. (NYSE: PTP) is down 2.5%. Medial service provider AFLAC Inc. (NYSE: AFL) is down 3.6% despite saying it seems limited impact from the events.
Memory:
A number of DRAM suppliers have stopped quoting prices following the earthquake in Japan, this could benefit Micron Technology Inc. (NYSE: MU), which is up 2%. Also NAND prices could increase, which would benefit SanDisk (Nasdaq: SNDK), although the stocks is down 2%.
US-based Companies:
A number of US-based companies that get a significant portion of their revenue from Japan are under pressure today: The Coca-Cola Company (NYSE: KO) is down 1.6%, Tiffany & Co. (NYSE: TIF) is down 6%, Coach Inc. (NYSE: COH) is down 6%, Starbucks Corp. (Nasdaq: SBUX) is down 1.7%, McDonald's Corp. (NYSE: MCD) is down 1%.
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