Shortly after the open, INTC was halted and announced that it discovered a design issue in a recently released support chip, the Intel 6 Series and has implemented a silicon fix. This chipset is used in the co's next generation Core processors Sandybridge. Sandybridge has largely been viewed as a key growth driver for the company. Fortunately, Sandybridge computers have only been shipping for a couple weeks and the flaw was discovered early. However,…Continue
Added by ken flagg on January 31, 2011 at 1:04pm —
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Shortly after the open, INTC was halted and announced that it discovered a design issue in a recently released support chip, the Intel 6 Series and has implemented a silicon fix. This chipset is used in the co's next generation Core processors Sandybridge. Sandybridge has largely been viewed as a key growth driver for the company. Fortunately, Sandybridge computers have only been shipping for a couple weeks and the flaw was discovered early. However, the total cost…Continue
Added by ken flagg on January 31, 2011 at 1:01pm —
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Global, sector, & commodity ETF & ETN performance- Turkey (TUR) leads all global/regional gainers, Europe (EWP, EWI, EWQ) also firm, Energy (IEO, XOP, XLE) leads the SPX to outperform major averages; Sugar (SGG) posts relative weakness in the CRB Index this mornings potential surplus now cited, VIX futures (VXX, VXZ) drop after Friday's +24% panic spike in spot VIX Actively Traded Leading Global, Regional,…Continue
Added by ken flagg on January 31, 2011 at 12:59pm —
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Stock futures suggest that a solid start to the final session of January is in order. The S&P 500 hasn't scored a monthly gain for January since 2007, but as things currently stand the S&P 500 is up 1.5% this month. Of course, Friday's 1.8% drop has taken away from the stock market's monthly performance. Premarket participants appear willing to step back in with a…Continue
Added by ken flagg on January 31, 2011 at 12:56pm —
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U.S. equity futures are bid up slightly this morning (S&P futures +4 vs. fair value, DJ futures +27), illustrating a calmer market than what we experienced on Friday. The situation in Egypt remains center stage as it continues to unfold, with continued protests over the weekend. President Mubarak appointed his intelligence chief…
Mario said on the open "You gotta be a real gunslinger to trade the open" We'll end up getting some great entries and we'll be selling our calls into this move. Nothing like a $1 Trillion Bailout the Largest in Stock Market…
Of the hundreds of companies reporting earnings the week of Jan 31st-Feb 4th some of the bigger names include: Monday: ACV, CYOU, XOM, ITW, BIDU, CAVM, IRF, MCK, PCL, and SIMO.
Commodities Close: Week Ends with Price SpikeCommodities caught a nice bid today. The CRB Commodity Index responded with a 1.2% spike, which helped it achieve a 0.4% weekly gain... Oil prices rallied sharply to wipe out losses earlier in the week. Weekly lows were set at $85.11 per barrel, which also marked a two-month low. However, concern about potential spillover of social unrest in Egypt helped spur buying this session. The energy component settled pit trade…Continue
Added by ken flagg on January 28, 2011 at 7:15pm —
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The Dow decreased 166.13 points closing at 11823.70, the Nasdaq was down 68.30 points to finish at 2686.98 and the S&P was down 23.19 points to finish at 1276.35. Today's movement came from higher than avg. volume on the NYSE and the Nasdaq (NYSE 1349 mln, vs. 997 mln avg; Nasdaq 2299 mln, vs. 1758 avg), with decliners outpacing advancers (NYSE 484/2533 Nasdaq 413/2221), and with new highs outpacing new lows (NYSE…Continue
Added by ken flagg on January 28, 2011 at 7:14pm —
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Google: Conn AG says preliminary agreement reached with GOOG in wi-fi data probe; stipulation allows settlement talks to being with GOOG - CNBC (602.47 -14.32)
Added by ken flagg on January 28, 2011 at 7:13pm —
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The stock market's inability to hold its ground at key technical levels following the fourth quarter GDP report brought about a wave of selling that has stocks on pace for their worst loss in two months... Early participants had a relatively muted response to fourth quarter GDP, which increased at an annualized rate of 3.2%. While that was up from the 2.6% rate recorded in the second quarter, economists polled by Briefing.com had expected fourth quarter growth…Continue
Added by ken flagg on January 28, 2011 at 2:55pm —
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The major Asian indices closed mostly lower with the Nikkei leading the weakness following yesterday's downgrade of Japan by S&P. Japan did receive some encouraging news however as its better-than-expected employment and CPI data provided some support to the Nikkei. The Sensex closed at a 5-month low as inflation fears continue to weigh. Trade across Asia will most likely be quiet next week as countries prepare for the Lunar New Year. Looking at the…Continue
Added by ken flagg on January 28, 2011 at 10:25am —
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* FBR Capital Mkts notes, last night, DRIV delivered a mixed bag. While the December quarter was strong as the co delivered a top-line upside (despite the MSFT deal not launching in the quarter), the focal point for investors this morning will be around the co's soft EPS guidance for 2011. Although the co gave good 2011 revenue guidance that was largely in line with the Street, it appears the co's massive pipeline/new deals have caused near-term spending…Continue
Added by ken flagg on January 28, 2011 at 9:38am —
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* Wedbush notes, last night, SNDK reported a Q4 beat, aided by one-time tax benefits on modestly higher revenue, and provided impressive top line revenue guidance enhanced by strength in its OEM business and continued traction in embedded. Firm estimates with a normalized 34% tax rate, Q4 EPS would have been $1.09 in-line with the Street. SNDK guided Q1 revenue to be in a range of $1.20B to $1.275B (-10% to -4% Q/Q), above the Street ($1.16B) and its…Continue
Added by ken flagg on January 28, 2011 at 9:37am —
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RBC Capital Mkts updated its financial forecast for Mosaic to reflect an increase to its FYQ4/12 and FY2013 potash price forecasts. Its new tgt of $102.00 reflects a FY2013E EV/EBITDA multiple of 9.0x (unchanged), which it believes is reasonable based on Mosaic's future growth opportunities and our fundamental outlook for the potash and phosphate industries. Reflecting its new potash price assumptions, RBC increased its FY2012 and FY2013 EPS estimates from $4.54…Continue
Added by ken flagg on January 28, 2011 at 9:36am —
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