Weston, Nov 20 (FlowTrades.com) – The majority of stocks fell for the week, with only the Dow posting a gain after surging to new highs on better than expected economic news overseas and a pledge by the APEC to maintain economic stimulus measures. The Dollar rebounded from a 15-month low against the euro, sending . Read More --
By Ellis MnyanduNEW YORK (Reuters) - U.S. stocks fell for a third straight day on Friday as investors took weaker-than-expected results from computer maker Dell DELL and homebuilder D.R. Horton DHI as a further sign that the recovery would be anemic.Following the S&P 500's gain of more than 60 percent...
PowerShares DB Crude Oil Short ETN (NYSE: SZO) found its place among ETF gainers today. SZO jumped 3.64% as crude oil fell around 1%.
The Rydex Inverse 2x S&P Select Sector Energy ETF (NYSE: REC) is up 3.39% as Energy sector struggles. REC seeks to reproduce 200% of the inverse performance of the Energy Select Sector Index.
The Claymore/BNY Mellon Frontier Markets ETF (NYSE: FRN) gained 3.15% so far as Emerging market stocks are trading in the positive territory.
ProShares UltraShort MSCI Europe (ETF) (NYSE: EPV) is trading 2.60% up as stocks like Novartis (NYSE: NVS) and BP plc (NYSE: BP) are trading in the red zone. NVS dropped 0.24% and BP lost 1.40%.
Direxion Daily Energy Bear 3X Shs(ETF) (NYSE: ERY) is another ETF that exploited oil weakness today, while Direxion Daily Developed Markets Bear 3x Shs(ETF)
(NYSE: DPK) jumped on the poor performance of the MSCI EAFE Index. ERY is up 2.56% and DPK added 2.38%.
Ultra Short Oil & Gas (NYSE: DUG) added 2.35% as Exxon (NYSE: XOM) and Chevron (NYSE: CVX) fell around 0.3% and 0.5% respectively.
By Ellis MnyanduNEW YORK (Reuters) - U.S. stocks fell for third straight day on Friday as investors took weaker-than-expected results from computer maker Dell and homebuilder D.R. Horton as a further sign that the recovery would be anemic.Following the S&P 500's gain of more than 60 percent from its 12-year...
US stocks dropped for the third straight day Friday as investors reacted negatively to Dell Inc.'s worse than expected quarterly results. Shares also retreated as a stronger dollar weighed upon commodity sector.[More...]
U.S. stocks tumbled Thursday as concerns about a subdued economic recovery played in the minds of investors. Safer bets like dollar strengthened and oil prices slumped. As investors turned to safe havens, Treasury prices rose, sending corresponding yields lower. Yields on three-month bills, considered one of the safest bets, turned negative for the first time since December. A Bank of America Merrill Lynch downgrade of semiconductor industry also added to the downward pressure.
The spike in bond prices came even as the Treasury announced plans to auction a record $118 billion in new notes next week – an auction schedule of $44 billion 2-year notes on Monday, $42 billion 5-year notes Tuesday, and $32 billion 7-year notes on Wednesday.
The Dow, which had plunged as much as 170 points during the session, ended down 93.87 points, or 0.9%, to 10,332.44. The broader Standard & Poor's 500 index fell 14.90 points, or 1.3%, to 1,094.90, while the tech-heavy Nasdaq composite index dropped 36.32 points, or 1.7%, to 2,156.82. Wall Street’s fear gauge, the CBOE Vix, jumped more than 4%. Crude prices dropped $1.93 to $77.46. Gold prices rose to their fifth straight record close, up 70 cents to $1141.90.
As glimmers of a full-blown economic recovery fade, investors have increasingly become intolerant, locking in profits at every opportunity. Also, a lack of conviction on part of the market to push beyond the current rally has been a dampener and concerns of an asset bubble build-up due to accommodative monetary policies have diminished risk appetites, sending daily average volume to levels of only about 1 billion.
Nevertheless, to show not all is bad, the OECD raised its growth estimates for its 30-country members to 1.9% in 2010 from June's estimate of a 0.7% growth, and to a 2.5% GDP expansion in 2011.
Tech shares, already up 54.3% year-to-date, fell 1.7% Thursday, after Merrill's analyst slashed 2010 global growth targets, and downgraded ten companies in the semiconductor sector. Intel (NASDAQ:INTC) shares fell 4.1%, and Texas Instruments (NYSE:TXN) retreated 3.4% after the downgrade. Dell (NASDAQ:DELL) shares plunged 6.1% in premarket trading, after the company reported earnings that missed analysts’ projections.
Among the S&P 500 industry groups, energy producers, off 2.1%, were the biggest decliners. ConocoPhillips (NYSE:COP) fell 1.9% and Chevron Corp. (NYSE:CVX) dropped 2% as crude prices fell for the first time in four days. Schlumberger Ltd. (NYSE:SLB) shares fell 3.3%.
Chicago, IL – November 20, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Toyota Motors (TM), Petroleo Brasileiro S.A. (PBR), ExxonMobil Corp. (XOM), Chevron Corp. (CVX) and Royal Dutch Shell PLC (RDS.A).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Thursday’s Analyst Blog:
Toyota’s 1st Sales Gain in 15 Months
Toyota Motors (TM) has posted its first year-over-year monthly sales gain across the globe in 15 months during October. The company’s sales rose 4% to more than 630,000 vehicles. In the U.S., the company’s sales fell 3.5%.
However, in the domestic market Toyota’s sales grew 15% helped by tax breaks for purchases of environment-friendly cars. In China, the company saw a staggering rise of 40% in sales. Toyota returned to profitability in the second quarter of fiscal 2010 ended Sep 30, 2009, after reporting losses since the third quarter of fiscal 2009.
The company posted a profit of ¥21.8 billion ($232 million) or ¥6.96 per share (7 cents) per share. This profit was attributed to government incentive programs across the world – such as the U.S. “Cash for Clunkers"– that helped the company recoup its market share. Consolidated revenue in the quarter dipped 24% to ¥4.54 trillion ($48 billion).
Automotive revenue fell 24% to ¥4.11 trillion ($44 billion) while Financial Services revenue shrank 17% to ¥307 billion ($4 billion). This was on the back of a decline in vehicle sales in each region as well as a negative impact from the appreciation of yen. Sales volume declined 16% to 1.64 million units due to a decrease in volume in all the regions except North America.
Petrobras Profit Exceeds Ests
Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. announced encouraging third quarter results, helped by strong performance from the Supply segment. Earnings per ADR came in at R$1.66 (96 cents), comfortably beating the Zacks Consensus Estimate of 80 cents. However, on a year-over-year basis, Petrobras’ earnings per ADR was down approximately 28.7%, hurt by lower prices of oil and natural gas. Still, they were better than the high double-digit earnings decline suffered by other majors such as ExxonMobil Corp. (XOM), Chevron Corp. (CVX), and Royal Dutch Shell PLC (RDS.A).
Total oil and gas production during the third quarter of 2009 reached 2,534 million oil-equivalent barrels per day, from 2,524 million in the previous quarter and 2,437 million in the same period of 2008. Compared to the third quarter of 2008, Brazilian oil and natural gas liquids production increased 4.8%, while international production was up 24.6%. However, Brazilian natural gas volumes were down 3.3% from the year-ago period, while international output during the quarter was down 6.0% year over year.
During the third quarter of 2009, the average sales price of oil in Brazil decreased 36.4% from the year-earlier period to $64 per barrel. Average sales price of international oil was down 16.9% year-over-year, reaching $57.16 per barrel. Regarding natural gas, average international sales price decreased 21.5% from the third quarter of 2008, while domestic price was down 61.5%.
Refining costs per barrel in Brazil was down 2.6% to $3.37 and internationally, it fell 45.2% to $3.51. Lifting cost per barrel moved down 24.5% in Brazil to $22.86, while overseas costs rose 9.4% to $5.6. Petrobras exported an average of 724,000 barrels of oil per day, 10.2% higher compared to the same period last year.
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Brazilian energy giant Petroleo Brasileiro S.A. (PBR), or Petrobras S.A. announced encouraging third quarter results, helped by strong performance from the Supply segment. Earnings per ADR came in at R$1.66 (96 cents), comfortably beating the Zacks Consensus Estimate of 80 cents. However, on a year-over-year basis, Petrobras’ earnings per ADR was ...
Companies featured in this segment: Chevron Corporation (NYSE:CVX), Suncor Energy, Incorporated (NYSE:SU), FirstEnergy Corporation (NYSE:FE), Scottish and Southern Energy plc (OTC:SSEZY),
Companies featured in this segment: SYSCO Corporation (NYSE:SYY), KBR Incorporated (NYSE:KBR), Foster Wheeler (NASDAQ:FWLT), Woodside Petroleum Limited (OTC:WOPEY), Chevron Corporation’s (NYSE:CVX), Apache Corporation (NYSE:APA), Hess Corporation (NYSE:HES), Tata Steel Limited (BSE:500470), New Millennium Capital Corporation (CVE:NML), Korea Electric Power Company (NYSE:KEP), Iberdrola Renovables (MCE:IBR), The AES Corporation (NYSE:AES), Egyptian company El Sewedy Cables (CAI:SWDY), Chicago Bridge & Iron Company (NYSE:CBI), Scottish and Southern Energy plc (OTC:SSEZY), E.ON AG (OTC:EONGY), RWE AG (OTC:RWEOY)
Companies featured in this segment: Fiat (OTC:FIATY), Scottish and Southern Energy plc (OTC:SSEZY), E.ON AG (OTC:EONGY), BP plc (NYSE:BP), RWE AG (OTC:RWEOY), General Electric Company (NYSE:GE), Eni SpA (NYSE:E), BP plc (NYSE:BP), Emerson Electric Company (NYSE:EMR), Korea Electric Power Corporation (NYSE:KEP), Reliance Industries Limited (BSE:500325), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Total S.A. (NYSE:TOT)
Companies featured in this segment: Valero Energy (NYSE:VLO), Marathon Oil (NYSE:MRO), Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Jacobs Engineering Group (NYSE:JEC), Fluor Corporation (NYSE:FLR), Areva SA (EPA:CEI), El Paso Corporation (NYSE:EP), Rio Tinto plc (NYSE:RTP), BHP Billiton Limited (NYSE:BHP), Baoshan Iron and Steel Company (SHA:600019), ArcelorMittal (NYSE:MT), ABB Limited (NYSE:ABB), Abengoa Solar SA (MCX:ABG), Deutsche Bank AG (NYSE:DB), E.ON AG (OTC:EONGY), Munich Re (BIT:MUV2), RWE AG (OTC:RWEOY), Siemens AG (NYSE:SI), Wisconsin Energy Corporation (NYSE:WEC), Iberdrola SA (OTC:IBDRY), BHP Billiton Limited (NYSE:BHP), China Shenhua Energy Company Limited (SHA:601088), Peabody Energy Corporation (NYSE:BTU), Vale SA (NYSE:VALE), Gazprom OAO (OTC:OGZPY),
Deutsche Bank AG (NYSE:DB), JPMorgan Chase & Company (NYSE:JPM), Rio Tinto plc (NYSE:RTP), Severstal’ OAO (MCX:CHMF), Itochu Corporation (OTC:ITOCY)
Companies featured in this segment: Exxon Mobil Corp.'s (NYSE:XOM), Royal Dutch Shell plc (NYSE:RDS-A), The Dow Chemical Company (NYSE:DOW), Royal Dutch Shell plc (NYSE:RDS.A), Chevron Corporation (NYSE:CVX), Marathon Oil (NYSE:MRO), BASF SE’s (OTC:BASFY), TransAlta Corportation (TSX:TA), Capital Power (TSX:CPX), Alstom SA (EPA:ALO)
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