Archive for November, 2010

Energy Stocks Closed Mixed (BP, Exxon Mobil Corporation, CVX)

Tuesday, November 30th, 2010

BP plc (ADR) (NYSE:BP) fell 1.45% to $40. The 52-week range of the stock is $26.75-$62.38.

BP p.l.c. is an international oil and gas company. The Company operates in more than 80 countries, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products.

Exxon Mobil Corporation (NYSE:XOM) added 0.16% to $69.56. The 52-week range of the stock is $55.94-$76.30.

The stock opened at $68.55 and was trading within the range of $68.32-$69.75. At today`s closing market price, the market capitalization of the company stands at $350.76 billion.

Chevron Corporation (NYSE:CVX) ended 0.88% lower at $80.97. The 52-week range of the stock is $66.83-$86.19.

The stock opened at $80.64 and was trading within the range of $80.47-$81.61. At today`s closing market price, the market capitalization of the company stands at $162.95 billion.

Chevron Corporation manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.

Financial Stocks Ended Lower (Bank of America Corporation, KEY, MTG)

Tuesday, November 30th, 2010

Bank of America Corporation (NYSE:BAC) dropped 3.18% to $10.95 on about 267.10 million shares. Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services.

The 52-week range of the stock is $10.91-$19.86. The stock made its new 52-week low of $10.91.

KeyCorp (NYSE:KEY) dropped 2.21% to $7.53 on over 9.70 million shares.

KeyCorp is a bank holding company and a financial holding company. It is the parent holding company for KeyBank National Association (KeyBank), its principal subsidiary, through which its banking services are provided.

MGIC Investment Corp. (NYSE:MTG) ended 1.05% lower at $8.52. MGIC Investment Corporation is a holding company. Through its wholly owned subsidiaries, the Company provides private mortgage insurance in the United States.

The stock opened at $8.49 and was trading within the range of $8.35-$8.58. At today`s closing market price, the market capitalization of the company stands at $1.71 billion.

Upgraded Stocks To Watch (RIMM, Citigroup Inc., Pepco Holdings)

Tuesday, November 30th, 2010

Research In Motion Limited (USA) (NASDAQ:RIMM) added 4.81% to $61.83. The 52-week range of the stock is $42.53-$76.95.

Jefferies upgraded Research In Motion Ltd. from Hold to Buy with an $80 price target.

Citigroup Inc. (NYSE:C) gained 1.20% to $4.20. The stock has been upgraded form Hold to Buy at research firm ISI Group this morning. ISI also boosted its price target on the bank stock from $5 to $5.50.

The stock opened at $4.13 and was trading within the range of $4.11-$4.24. At today`s closing market price, the market capitalization of the company stands at $122.01 billion.

Pepco Holdings, Inc. (NYSE:POM) ended 0.66% higher at $18.35. The 52-week range of the stock is $15.13-$19.80.

The stock opened at $18.19 and was trading within the range of $18.18-$18.40. At today`s closing market price, the market capitalization of the company stands at $4.12 billion.

Pepco Holdings, Inc. is a diversified energy company. The Company through its operating subsidiaries, is engaged primarily in two businesses.

Notable Stock Downgrades (AEO, RIG, EBAY)

Tuesday, November 30th, 2010

American Eagle Outfitters (NYSE:AEO) dropped 1.37% to $16.50. Standpoint Research downgraded American Eagle Outfitters from Buy to Hold.

The 52-week range of the stock is $11.35-$19.64.

Transocean LTD (NYSE:RIG) lost 2.39% to $67.03. An analyst at Simmons & Co. also downgraded shares of Transocean from Overweight to Neutral.

The stock opened at $68.18 and was trading within the range of $67-$69.05. At today`s closing market price, the market capitalization of the company stands at $21.38 billion.

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. As of February 2, 2010, the Company owned, had partial ownership interests in, or operated 138 mobile offshore drilling units.

eBay Inc. (NASDAQ:EBAY) ended 3.61% lower at $29.14. An analyst at Piper Jaffray downgraded the stock. The firm now rates the stock a Neutral, down from Overweight previously. Piper Jaffray maintained a $30 price target on the stock.

The stock opened at $29.57 and was trading within the range of $28.79-$29.66. At today`s closing market price, the market capitalization of the company stands at $37.99 billion.

Stocks Paying Dividends (TJX, CAG, MTSC)

Tuesday, November 30th, 2010

The TJX Companies, Inc. (NYSE:TJX) added 0.71% to $45.61. The company announced the declaration of a quarterly dividend on its common stock of $0.15 per share payable March 3, 2011, to shareholders of record on February 10, 2011.

The 52-week range of the stock is $35.75-$48.50.

The TJX Companies, Inc. is an off-price apparel and home fashions. The Company operates in five business segments: three in the United States and one in each of Canada and Europe.

ConAgra Foods, Inc. (NYSE:CAG) fell 1.33% to $21.48. The company announced that it has approved a dividend payment of $0.23 per common share to be paid on March 2, 2011, to stockholders of record at the close of business on January 31, 2011.

The stock opened at $21.63 and was trading within the range of $21.43-$21.69. At today`s closing market price, the market capitalization of the company stands at $9.45 billion.

MTS Systems Corporation (NASDAQ:MTSC) ended 0.62% lower at $38.32. The company announced that its Board of Directors has increased the quarterly cash dividend by 30% to $0.20 per share. The dividend will be paid on January 3, 2011.

The stock opened at $37.94 and was trading within the range of $37.11-$38.41. At today`s closing market price, the market capitalization of the company stands at $584.92 million.

WikiLeaks Set To Name “US Bank”

Tuesday, November 30th, 2010

Julian Assange won’t identify bank, though he said last year that WikiLeaks has obtained over 5GB of Bank of America data. BAC is currently down 3% on Tuesday. 

In a story published yesterday on Forbes.com, WikiLeaks founder Julian Assange is quoted as saying that whistleblower Web site is sitting on tens of thousands — possibly even hundreds of thousands — of sensitive internal documents from a large U.S. bank.

Assange did not identify the bank to Forbes, but he said that WikiLeaks will start posting the documents early next year. The leaked documents, he added, will offer a “true and representative insight into how banks behave at the executive level in a way that will stimulate investigations and reforms.” The documents are not isolated to a specific incident, but instead highlight a systematic pattern of what he called Enron-like violations and unethical practices.  “When Enron collapsed, through court processes, thousands and thousands of e-mails came out that were internal, and it provided a window into how the whole company was managed. It was all the little decisions that supported the flagrant violations,” he said. “This will be like that.”

In an interview with the IDG News Service last year, Assange contended that WikiLeaks had obtained a hard drive of an executive officer at the Bank of America that held close to 5GB of data. During the interview at the 2009 Hack In The Box security conference in Kuala Lumpur, Malaysia, Assange said WikiLeaks was working to find a way to present the leaked Bank of America material in an easy-to-browse fashion. “It’s a difficult problem,” Assange had said at that time. “We could just dump it all into one giant Zip file, but we know for a fact that has limited impact. To have impact, it needs to be easy for people to dive in and search it and get something out of it.”

Assange did not identify the targeted bank in the Forbes interview. Bank of America officials did not immediately respond to a request for comment. News of the latest WikiLeaks plan comes amid growing questions about the legality of the whistleblower Web site’s actions. On Sunday, WikiLeaks released thousands of classified U.S. State Department cables that were apparently obtained from a relatively low-level U.S. Army intelligence officer. Earlier this year, the site released a similar set of documents pertaining to the ongoing wars in Iraq and Afghanistan that were also obtained from the officer.

The release of the documents has stirred considerable outrage both domestically and on the international stage.

We’ll keep a close eye on all US banks especially Goldman Sachs, Morgan Stanely, JPM, BAC, and Citigroup.

Industrial Good Stocks Trading Mixed (US Steel, Caterpillar Inc., The Boeing)

Tuesday, November 30th, 2010

United States Steel Corporation (NYSE:X) added 2.32% to $49. The 52-week range of the stock is $36.93-$70.95.

United States Steel Corporation is an integrated steel producer of flat-rolled and tubular products with production operations in North America and Europe. The Company has an annual raw steel production capability of 31.7 million net tons (tons) (24.3 million tons in North America and 7.4 million tons in Europe).

Caterpillar Inc. (NYSE:CAT) jumped 1.36% to $84.81. The 52-week range of the stock is $50.50-$84.80.

The stock opened at $82.83 and is trading within the range of $82.76-$84.80. At current market price, the market capitalization of the company stands at $53.82 billion. The stock made its new 52-week high of $84.80.

The Boeing Company (NYSE:BA) is 0.61% lower at $63.97. The 52-week range of the stock is $51.78-$76.

The stock opened at $63.73 and is trading within the range of $63.47-$64.21. At current market price, the market capitalization of the company stands at $46.93 billion.

The Boeing Company is involved in the design, development, manufacture, sale and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services.

Biotech Stocks Higher (ASTM, DSCO, SVNT)

Tuesday, November 30th, 2010

Aastrom Biosciences, Inc. (NASDAQ:ASTM) soared 13.82% to $2.47 on about 2.85 million shares. Aastrom Biosciences, Inc. is in the development-stage. Aastrom is a regenerative medicine company focused on the development of cell therapies to repair or regenerate damaged or diseased tissues.

The 52-week range of the stock is $1.32-$4.45. In the past one month of trading sessions, the stock went up more than 21%.

Discovery Laboratories, Inc. (NASDAQ:DSCO) added 3.65% to $0.207 on over 1.51 million shares.

Discovery Laboratories, Inc. is a biotechnology company developing surfactant therapies to treat respiratory disorders and diseases. The Company’s KL4 technology produces a synthetic, peptide-containing surfactant (KL4 surfactant) that is structurally similar to pulmonary surfactant, a substance produced naturally in the lung and essential for survival and normal respiratory function.

Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) is 1.22% higher at $12.49. Savient Pharmaceuticals, Inc. is a specialty biopharmaceutical company focused on developing KRYSTEXXA (pegloticase), or KRYSTEXXA, for the treatment of chronic gout in patients refractory to conventional therapy.

The stock opened at 412.25 and is trading within the range of $12.12-$12.88. At current market price, the market capitalization of the company stands at $877.52 million.

Top Drug Manufacturer Stock Losers (NVS, THC, SNY)

Tuesday, November 30th, 2010

Novartis AG (ADR) (NYSE:NVS) fell 1.98% to $53.50. The 52-week range of the stock is $43.48-$60.07.

Novartis AG is a Switzerland-based holding that, through its subsidiaries, is engaged in the research, development, manufacture and marketing of healthcare products. The Company’s healthcare solutions portfolio includes medicines, preventive vaccines and diagnostic tools, generic pharmaceuticals and consumer health products.

Tenet Healthcare Corporation (NYSE:THC) lost 1.45% to $4.08. The 52-week range of the stock is $3.92-$6.46.

The stock opened at $4.07 and is trading within the range of $4.01-$4.11. At current market price, the market capitalization of the company stands at $1.98 billion.

Sanofi-Aventis SA (ADR) (NYSE:SNY) is 1.32% lower at $30.74. The 52-week range of the stock is $28.01-$41.59.

The stock opened at $30.06 and is trading within the range of $30.05-$30.75. At current market price, the market capitalization of the company stands at $80.21 billion.

Sanofi-Aventis is a pharmaceutical group engaged in the research, development, manufacture and marketing of healthcare products. The Company’s business includes two main activities: pharmaceuticals and human vaccines through sanofi pasteur.

Asset Management Stocks Trading Lower (BK, FIG, JNS)

Tuesday, November 30th, 2010

The Bank of New York Mellon Corporation (NYSE:BK) fell 1.07% to $26.90. The 52-week range of the stock is $23.78-$32.65.

The Bank of New York Mellon Corporation is a global financial services company. The Company operates in seven segments: Asset Management, Wealth Management, Asset Servicing, Issuer Services, Clearing Services, Treasury Services and Other.

Fortress Investment Group LLC (NYSE:FIG) lost 2.61% to $4.48. Fortress Investment Group LLC is a global investment manager with approximately $41.7 billion in asset under management (AUM) as of June 30, 2010. Fund investors provide Fortress with capital, which the Company invests and manages on their behalf through private equity funds, credit funds, liquid hedge funds and traditional asset management strategies.

The stock opened at $4.53 and is trading within the range of $4.34-$4.58. At current market price, the market capitalization of the company stands at $2.10 billion.

Janus Capital Group Inc. (NYSE:JNS) is 0.29% lower at $10.45. The 52-week range of the stock is $8.63-$15.72.

The stock opened at $10.35 and is trading within the range of $10.29-$10.63. At current market price, the market capitalization of the company stands at $1.92 billion.