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Brent Crude Oil Explodes to $120 Per Barrel

Posted Apr 4th 2011 3:00PM by Connie Madon (RSS feed)
Filed under: Major Movement, International Markets, Bad News, Middle East, Commodities, Oil, Headline News

The Wall Street Journal posted oil production numbers for March that disclose the shortfall from the Libyan conflict. When the news hit the tape, Brent Crude exploded to the upside trading at $120.17 per barrel, up $1.47 (12:45 EDT.)

Here are the stats:
  • OPEC production fell 411,000 barrels per day to 29,343 million bpd.
  • Libya's production fell 343,000 barrels per day, from 1,396,000 bpd.
  • Nigeria fell 107,000 barrels per day due to Royal Dutch (RDS) Oil maintenance.
To make up for the shortfall, Saudi Arabia increased production by 500,000 barrels per day to 9.05 million bpd. Kuwait upped production by 37,000 barrels per day. Arab Emirates increased their production by 90,000 barrels per day.

Here's the real kicker. OPEC's seaborne exports are expected to fall by 530,000 barrels per day in the next four weeks.

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Will Apple Squeeze OmniVision Out of the iPhone Business?

Posted Apr 4th 2011 1:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Apple Inc (AAPL), Sony Corp ADR (SNE), iPhone, Options, Technical Analysis

OVTI logoOmniVision (OVTI - option chain) stock is trading sharply lower today after Sony (SNE) CEO Howard Stringer said late Friday that his company is supplying camera components to Apple (AAPL). This could pose a threat to OVTI's AAPL business, as OVTI had been the main supplier of image sensors for the iPhone. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on OVTI.

This morning, OVTI opened at $34.06. So far today the stock has hit a high of $34.10 and a low of $32.20. As of 12:15, OVTI is trading at $33.15, down $3.04 (-8.4%). The chart for OVTI looks neutral and S&P gives OVTI a neutral 3 STARS (out of 5) hold ranking.

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Las Vegas Sands Drops on Securities Investigation in Hong Kong

Posted Mar 31st 2011 2:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, China, Options, Technical Analysis, Las Vegas Sands (LVS)

LVS logoLas Vegas Sands (LVS - option chain) stock is trading lower today after the company said its Hong Kong unit is under investigation by Chinese government officials for allegedly violating securities regulations. LVS did not comment further on the investigation, only saying it was asked to produce certain documents for regulators. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on LVS.

This morning, LVS opened at $41.45. So far today the stock has hit a high of $41.93 and a low of $40.70. As of 12:55, LVS is trading at $41.75, down $1.72 (-4.0%). The chart for LVS looks bullish and S&P gives LVS a positive 4 STARS (out of 5) buy ranking.

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Consumer Confidence Hits Three-Month Low

Posted Mar 29th 2011 4:00PM by Michael Fowlkes (RSS feed)
Filed under: Bad News, Consumer Experience, Market Matters, Money and Finance Today, Economic Data, Oil

consumer confidenceConsumer confidence fell more than expected during the month of March, hitting a new three-month low as high gasoline prices weigh on the minds on consumers.

The Conference Board's consumer confidence index read 74 during February, but dipped in March all the way down to 63.4. Going into today's reading, analysts had been expecting to see the consumer confidence index decline, but only to 65.

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Goodyear Drops After Preferred Stock Offering

Posted Mar 28th 2011 1:30PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Options, Technical Analysis, Goodyear Tire and Rubber (GT)

GT logoGoodyear (GT - option chain) stock is trading lower today after the company announced a $435 million offering of preferred stock. The common stock is moving sharply lower this morning because it will be devalued when these preferred shares convert to common stock in 2014. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GT.

This morning, GT opened at $14.99. So far today the stock has hit a high of $15.20 and a low of $14.65. As of 12:25, GT is trading at $14.69, down $0.76 (-4.9%). The chart for GT looks neutral and S&P gives GT a neutral 3 STARS (out of 5) hold ranking.

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Traders Exit Insurance Stocks to Avoid Earthquake Exposure

Posted Mar 14th 2011 2:00PM by Brent Archer (RSS feed)
Filed under: Bad News, Amer Intl Group (AIG), Japan, Options, Technical Analysis, MetLife Inc. (MET), Prudential Financial (PRU)

MET logoMetLife (MET - option chain) stock is trading lower today along with most other insurance companies this morning after the cost to insurers related to Friday's earthquake in Japan was estimated to be between $15 to $35 billion. Prudential Financial (PRU) and AIG (AIG) are also down so far in today's trading. Even if these insurance companies are actually on solid footing financially with regard to their expected claims, I expect investors could be frightened for several months to come, which could keep share prices depressed. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MET.

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GM Announces Surprise CFO Resignation

Posted Mar 10th 2011 1:30PM by Brent Archer (RSS feed)
Filed under: Bad News, Management, General Motors (GM), Options, Technical Analysis

GM logoGeneral Motors (GM - option chain) stock is trading lower today after company CFO Chris Liddell announced his resignation effective April 1. GM posted four straight profitable quarters under Liddell and successfully pulled off a major IPO after repairing massive accounting issues. GM said Treasurer Dan Ammann will replace Liddell. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GM.

This morning, GM opened at $31.47. So far today the stock has hit a high of $31.78 and a low of $30.95. As of 12:05, GM is trading at $31.51, down $0.74 (-2.3%). The chart for GM looks neutral and S&P gives GM a neutral 3 STARS (out of 5) hold ranking.

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Will Buffett Back Away from His Deal with BYD, the Chinese Auto Maker?

Posted Mar 9th 2011 6:00PM by Connie Madon (RSS feed)
Filed under: Bad News, Industry, Competitive Strategy, China

Warren Buffett invested $232 million in BYD (BYDDF), a Chinese auto maker during the financial crisis, as reported by Reuters. As of December 2010 Buffett's 225 million shares were worth $1.18 billion. In 2009, the shares were valued at just under $2 billion. So from 2009 to 2010, Buffett's Berkshire Hathaway (BRK.A) lost about 40% of his investment.

But that is just the beginning. Now there is criticism surrounding the new Chinese car, dubbed the hybrid car F3DM.They center around two major areas, authenticity of the design and the overall workmanship of the car itself.

Continue reading Will Buffett Back Away from His Deal with BYD, the Chinese Auto Maker?

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Ciena Tumbles on Weak Q2 Forecast

Posted Mar 7th 2011 2:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, Earnings Reports, Forecasts, Bad News, Ciena Corp (CIEN), Options, Technical Analysis

CIEN logoCiena (CIEN - option chain) stock is trading lower today after the company reported Q1 2011 earnings this morning, posting a loss of $79.06 million, or 84 cents per share. Excluding one-time items, CIEN lost 14 cents per share on revenue of $433.31 million, while analysts had forecast a loss of 16 cents per share on revenue of $421.91 million. CIEN also forecast Q2 revenue of $415 to $435 million, below analysts' forecasts of $438.5 million. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on CIEN.

This morning, CIEN opened at $27.60. So far today the stock has hit a high of $28.38 and a low of $25.49. As of 12:10, CIEN is trading at $25.25, down $3.56 (-12.4%). The chart for CIEN looks neutral and S&P gives CIEN a neutral 3 STARS (out of 5) hold ranking.

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Weatherford International Discloses Huge Tax Errors

Posted Mar 2nd 2011 1:40PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Options, Technical Analysis

WFT logoWeatherford International (WFT - option chain) stock is trading lower today after the company disclosed last night errors in its tax accounting. These errors will lead to adjustments of $100 million to $150 million to its historical financial statements in each year from 2007 to 2010. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on WFT.

This morning, WFT opened at $19.77. So far today the stock has hit a high of $22.31 and a low of $19.56. As of 12:25, WFT is trading at $20.81, down $2.71 (-11.5%). The chart for WFT looks neutral and S&P gives WFT a neutral 3 STARS (out of 5) hold ranking.

Continue reading Weatherford International Discloses Huge Tax Errors

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Fifth Third Bancorp Subpoenaed by SEC

Posted Mar 1st 2011 1:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, SEC Filings, Bad News, Options, Technical Analysis

FITB logoFifth Third Bancorp (FITB - option chain) stock is trading lower today after the company disclosed in a regulatory filing that it has been subpoenaed by the Securities and Exchange Commission regarding commercial-loan practices. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on FITB.

This morning, FITB opened at $13.97. So far today the stock has hit a high of $14.15 and a low of $13.67. As of 11:50, FITB is trading at $14.02, down $0.58 (-4.0%). The chart for FITB looks bullish and S&P gives FITB a positive 4 STARS (out of 5) buy ranking.

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Airline Stocks Dive as Oil Futures Soar

Posted Feb 22nd 2011 1:30PM by Brent Archer (RSS feed)
Filed under: Major Movement, Bad News, Options, Technical Analysis, Oil, Delta Air Lines (DAL)

DAL logoDelta Air Lines (DAL - option chain) stock is trading lower today along with other airlines this morning, hurt by rising oil futures. Oil futures shot up over 7% this morning in response to growing political turmoil in Libya. Libya is the largest oil producer in North Africa, and is responsible for 2% of global daily output. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on DAL.

This morning, DAL opened at $10.99. So far today the stock has hit a high of $10.99 and a low of $10.59. As of 12:35, DAL is trading at $10.65, down $0.85 (-7.3%). The chart for DAL looks bullish and S&P gives DAL a positive 4 STARS (out of 5) buy ranking.

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Allstate Sells Off on Weak Q4 Results

Posted Feb 9th 2011 6:00PM by Michael Fowlkes (RSS feed)
Filed under: Major Movement, Earnings Reports, Bad News, Allstate Corp (ALL), Small Business

allstate q4 earnings reportShares of insurance giant The Allstate Corporation (ALL) are trading sharply lower in after hours trading after the company reported weaker than expected Q4 results this afternoon.

Going into this afternoon's earnings report, analysts had been expecting to see the company report earnings of $0.88, but actual results came in much lower than expected at just $0.55 per share.

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JPMorgan Chase Trading Lower Due to Madoff Allegations

Posted Feb 4th 2011 2:00PM by Brent Archer (RSS feed)
Filed under: Bad News, JPMorgan Chase (JPM), Options, Technical Analysis

JPM logoJPMorgan Chase (JPM - option chain) stock is trading lower today after reports have surfaced that senior executives at the bank expressed doubts about the returns of Bernard Madoff's investment business as early as June 2007, 18 months before Madoff's Ponzi scheme collapsed. An internal e-mail from a high-level risk management officer within JPM reported that another bank executive "just told me that there is a well-known cloud over the head of Madoff and that his returns are speculated to be part of a Ponzi scheme." Despite the suspicions, JPM continued to allow Madoff to move billions of dollars of his investors' cash in and out of his Chase bank accounts until he was arrested for the Ponzi scheme in December 2008. If you think this cloud of suspicion could keep a cap on JPM's stock price in the coming months, then it could be a good time to look at a bearish hedged play on JPM.

This morning, JPM opened at $45.00. So far today the stock has hit a high of $45.17 and a low of $44.50. As of 12:20, JPM is trading at $44.65, down $0.81 (-1.7%). The chart for JPM looks bullish and S&P gives JPM a positive 4 STARS (out of 5) buy ranking.

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Genworth Unlikely to Resume Dividends Anytime Soon

Posted Feb 2nd 2011 1:30PM by Brent Archer (RSS feed)
Filed under: Major Movement, Earnings Reports, Bad News, Options, Technical Analysis

GNW logoGenworth Financial (GNW - option chain) stock is trading lower today after the company reported Q4 2010 results this morning before the opening bell, posting a total loss of $161 million, or 33 cents a share. Adjusted EPS was $-0.28 while analysts' expected earnings of $0.16. Genworth also said a split of the company was unlikely at this time and that the company is probably 2-3 years away from a renewal of dividends. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on GNW.

This morning, GNW opened at $12.84. So far today the stock has hit a high of $13.28 and a low of $12.30. As of 12:20, GNW is trading at $12.35, down $1.59 (-11.4%). The chart for GNW looks bullish and S&P gives GNW a positive 4 STARS (out of 5) buy ranking.

Continue reading Genworth Unlikely to Resume Dividends Anytime Soon

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