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U.S. equity markets opened slightly lower this morning following on some poor data on eurozone industrial production, which fell more than expected. Non-farm payrolls fell more than expected in France and the country’s CPI rose less than analysts had forecast. There was no data out of Asia this morning, but there are worries that China will tighten lending requirements for home purchases as the country tries to cool off the real estate market. In the U.S., retail sales came in better than expected (more coverage here), but new applications for mortgages fell as interest rates rose (more coverage here). The Business Roundtable released its economic outlook for spring, which suggests that sales and capital spending will rise, but hiring will remain slow (more coverage here).

The U.S. dollar index rose 0.34% today, now at 82.865. The GSCI commodity index is up 0.1% at 649.62, with commodities prices mostly lower today. WTI crude oil closed down fractionally today, at $92.52 a barrel, following the release of the EIA’s inventory report (more coverage here). Brent crude trades down 1.2% at $108.40 a barrel. Natural gas is up 1% today at about $3.68 per million BTUs. Gold settled down 0.2% today at $1,588.40 an ounce, largely due to the stronger dollar.

The unofficial closing bells put the DJIA up more than 5 points to 14,455.28 (0.04%), the NASDAQ rose nearly 3 points (0.09%) to 3,245.12, and the S&P 500 rose 0.13% or about 2 points to 1,554.52.

There were a several analyst upgrades and downgrades today, including Boeing Co. (NYSE: BA) reiterated as ‘buy’ with a price target of $100 at BofA/Merrill Lynch; Oracle Corp. (NASDAQ: ORCL) raised to ‘buy’ at Canaccord Genuity; Walgreen Co. (NYSE: WAG) raised to ‘buy’ at UBS; Yum! Brands Inc. (NYSE: YUM) maintained as ‘outperform’ and price target raised to $70 at Credit Suisse; and El Paso Pipeline Partners LP (NYSE: EPB) cut to ‘neutral’ and price target raised to $44 at Credit Suisse (more coverage of MLP ratings here).

Earnings reports since markets closed last night resulted in several price moves today, including these: Dole Food Company Inc. (NYSE: DOLE) is down 8.8% at $10.70; Majesco Entertainment Co. (NASDAQ: COOL) is down 16.3% at $0.60; Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is down 8.2% at $1.45; and Express Inc. (NYSE: EXPR) is down 2.7% at $18.35 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Bright Horizons Family Solutions Inc. (NYSE: BFAM), Men’s Wearhouse Inc. (NYSE: MW), Vera Bradley Inc. (NASDAQ: VRA), Comstock Mining Inc. (NYSEMKT: LODE), and ReneSola Ltd. (NYSE: SOL).

Some standouts among heavily traded stocks today include:

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is down 37.6% at $7.76 after posting a new 52-week low of $7.73 earlier today. The drugmaker lowered full-year guidance today by 40%, and the shorts had a field day.

Valero Energy Corp. (NYSE: VLO) is down 4.4% at $43.53. The oil refiner received an analyst downgrade today linked to the rising cost of renewable fuel credits.

eBay Inc. (NASDAQ: EBAY) is down …read more
Source: FULL ARTICLE at DailyFinance

By 24/7 Wall St.

Filed under: Investing

U.S. equity markets opened lower this morning but never managed to hold a position in positive territory. Despite a significant drop in U.K. industrial production in February, the country’s trade deficit was narrow than expected and the FTSE 100 index actually rose. Elsewhere in Europe the few data points that were released today did not move markets much one way or the other. In Asia, the Chinese government tried to persuade investors (not altogether successfully) that downturns in yesterday’s data reports were mainly due to the lunar new year. In the U.S., there was no early morning data and few earnings reports of note. A report on job gains and losses was mostly positive (more coverage here), and the afternoon auction of 3-year Treasury notes went off at a yield of 0.411%, identical with the February auction.

The U.S. dollar index rose 0.02% today, now at 82.594. The GSCI commodity index is down fractionally at 648.72, with commodities prices mostly mixed again today. WTI crude oil closed up 0.5% today, at $92.54 a barrel, following the release of the EIA’s short-term energy outlook (more coverage here). Brent crude trades down 0.6% at $109.61 a barrel. Natural gas is down 0.3% today at about $3.64 per million BTUs. Gold settled up 0.9% today at $1,591.70 an ounce.

The unofficial closing bells put the DJIA up less than 2 points to 14,450.06 (0.01%), the NASDAQ fell more than 10 points (-0.32%) to 3,242.32, and the S&P 500 fell -0.24% or nearly 4 points to 1,552.48.

There were a several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) raised to ‘buy’ at Goldman Sachs; RadioShack Inc. (NYSE: RSH) cut to ‘sell’ at Goldman Sachs; Pandora Media Inc. (NYSE: P) started as ‘outperform’ at Pac-Crest; Apple Inc. (NASDAQ: AAPL) maintained as ‘hold’ but price target cut to $420 at Jefferies; and The TJX Companies Inc. (NYSE: TJX) started as ‘overweight’ at Barclays.

Earnings reports since markets closed last night resulted in several price moves today, including these: CVR Energy Inc. (NYSE: CVI) is up 1.6% at $59.57; Diamond Foods Inc. (NASDAQ: DMND) is down 10.1% at $15.82; Fuel Cell Energy Inc. (NASDAQ: FCEL) is down 4.1% at $1.00; Urban Outfitters Inc. (NASDAQ: URBN) is up 0.8% at $41.81; Bon-Ton Stores Inc. (NASDAQ: BONT) is up 5.5% at $12.56; Costco Wholesale Corp. (NASDAQ: COST) is up 1.2% at $103.68 (more coverage here); and Stage Stores Inc. (NYSE: SSI) is down 0.8% at $26.62.

Before markets open tomorrow morning we are scheduled to hear from Dole Food Company Inc. (NYSE: DOLE), Majesco Entertainment Co. (NASDAQ: COOL), Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM), Express Inc. (NYSE: EXPR), and TravelCenters of America LLC (NYSEMKT: TA).

Some standouts among heavily traded stocks today include:

Glu Mobile Inc. (NASDAQ: GLUU) is up 15.3% at $2.79. The mobile game developer launched its first real-money mobile gambling game in the U.K.

J.C. Penney Co. Inc. (NYSE: JCP) is up 4.3% at $15.69. The retailer denies the CEO is leaving and the shares rise. …read more
Source: FULL ARTICLE at DailyFinance

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24/7 Wall St. Closing Bell — March 13, 2013: Markets Hold On for Small Gains (BA, ORCL, WAG, YUM, EPB, DOLE, COOL, PPHM, EXPR, BFAM, MW, VRA, LODE, SOL, SPPI, VLO, EBAY)

24/7 Wall St. Closing Bell — March 12, 2013: Markets Can't Overcome Low Open (BBY, RSH, P, AAPL TJX, CVI, DMND, FCEL, URBN, BONT, COST, SSI, DOLE, COOL, PPHM, EXPR, TA, GLU, JCP, ZNGA)

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