Paul Kangas' Stocks in the News
Friday, April 24, 2009
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PAUL KANGAS: A smaller than anticipated loss at Ford Motor and sharply higher European markets set the stage for solid gains on Wall Street today. Bullish enthusiasm was also linked to smaller than feared declines in March durable goods orders and new home sales. The Dow posted a 134 point gain at noon with the NASDAQ up 39 points and the rally continued right throughout the afternoon to the final bell. The Dow Jones Industrial Average closed up 119.23 points at 8076.29. This week it fell twice and rose three times, had a net loss of 55.04 points. The NASDAQ Composite was up 42.08 closing at 1694.29 today. It advanced in four of this week's five sessions for a gain of 21.22 points overall. Standard & Poor's 500 rose 14.31 points today to 866.23. And for the week it fell 3.37 overall. In the bond market, the 10- year note lost 19/32 to 97 29/32, putting the yield at 3 percent even.
Big board volume leader on 72 million shares was Bank of America (BAC) moving up $0.28.
Followed by Citigroup (C) down a penny.
Ford Motor Co (F) a $0.51 gain, good percentage move there. The company reported a first quarter loss of $0.75, but that's well smaller than the $1.23 loss Wall Street was expecting and the company said it has no need for government assistance and is on track to be at least break even by 2011.
Wells Fargo (WFC) gained $1.31.
JPMorgan Chase (JPM) up $0.17.
Host Hotels & Resorts (HST) which is in the midst of offering $66 million common shares at $6.60 each was a $0.70 gainer.
General Electric (GE) $0.23 rise there.
American International Group (AIG) a $0.04 loss.
American Express (AXP) up $4.33. After the close yesterday, it reported better than expected earnings and today Credit Suisse boosted its 2009 earnings estimate for AXP from $0.90 to $1.40 a share.
Las Vegas Sands (LVS), tenth in volume was up $1.16.
Honeywell intl (HON) a $0.93 loss. Sharply lower first quarter earnings, $0.54 versus $0.85 a year ago, sales dropped 15 percent.
Schlumberger Ltd (SLB), the oil service company, $3.12 advance. First quarter earnings, $0.78, down from $1.06 but a nickel above the Street estimate. We see a lot of stocks like that here.
Stanley Works (SWK) up $3.97, $0.48 in first quarter earnings, well below $0.80 last year, $0.09 above the Street estimate and the company's upbeat about the future.
Eastman Chemical (EMN) up $6.91. First quarter earnings of only $0.25, down from last year's $1.48, but $0.11 better than the Street was expecting.
Wilmington Trust (WL) up $3.42, big percentage move, $0.19 in first quarter earnings out today. The Street estimate was for only $0.04 in earnings.
Mohawk Industries (MHK) up $11.18 despite a first quarter loss of $1.55 versus earnings last year, but the company says it sees seasonal improvement in all of its major businesses and sees second quarter earnings of $0.43 to $0.52 a share.
Steak n Shake (SNS) up $1.84, real turnaround, $0.08 in second quarter earnings versus a loss of $0.10 last year.
Devry (DV) the education company, up $2.97. Third quarter earnings came in at $0.70, well above last year's $0.53.
And NBTY (NTY), used to be called Nature's Bounty, up $5.38, $0.37 in second quarter earnings, down from $0.67 a year ago, but $0.04 above the Street estimate. RBC Capital upgraded it from "sector perform" to "out perform."
Microsoft (MSFT) topped the NASDAQ actives with a gain of almost $2 despite yesterday's report of lower quarterly earnings, but analysts like the company's cost-cutting measures.
Apple (AAPL) $1.50 loss there.
Amazon.com (AMZN) up $3.85. After the close yesterday, better than expected earnings. Today RBC Capital repeated an "out perform."
Google (GOOG) up $4.80 there.
Research in Motion (RIMM) a $0.49 advance.
Intel (INTC) gained $0.09.
Cisco Systems (CSCO) an $0.80 rise there.
Oracle (ORCL) $0.11 gain.
Juniper Networks (JNPR) up $3.07. The company gave an upbeat second quarter earnings forecast of $0.16 to $0.18 a share. That's about a penny or so better than the Street was expecting.
And then came Amgen (AMGN) with a gain of $3.01.
Those are the stocks in the news tonight.
