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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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By 24/7 Wall St.

Bull and Bear figures

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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 11, 2013: Markets Recover Slightly from Low Open (BBY, BTU, SFD, ADBE, MT, CSIQ, CHYR, DKS, RENN, CVI, DMND, FCEL, URBN, BONT, SSI, BBRY, T, ZNGA, YHOO)

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By 24/7 Wall St.

Bull and Bear figures

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U.S. equity markets opened lower this morning after France reported a decline in industrial production and China reported consumer inflation up more than expected (more coverage here). There was no significant data reported in the U.S. today, so the weak opening eventually gave way to buying, pushing stocks into positive gains by around noon. The gains were modest with financial stocks leading the gains, while energy, technology, and telecom stocks trailed along. In Japan, the nominee for the central bank’s Board of Governors said he did not think that the current asset purchase plan was big enough to allow the country’s to reach its 2% inflation goal. The volatility index notched a six-year low today (more coverage here).

The U.S. dollar index fell 0.12% today, now at 82.589. The GSCI commodity index is up 0.3% at 648.81, with commodities prices mixed again today. WTI crude oil closed up 0.1% today, at $92.06 a barrel. Brent crude trades down 0.7% at $110.10 a barrel. Natural gas is up 0.4% today at about $3.65 per million BTUs. Gold settled up 0.1% today at $1,578.00 an ounce.

The unofficial closing bells put the DJIA up about 50 points to 14,447.22 (0.35%), the NASDAQ rose nearly 9 points (0.26%) to 3,252.87, and the S&P 500 rose 0.32% or about 5 points to 1,556.22.

There were a several analyst upgrades and downgrades today, including Best Buy Co. Inc. (NYSE: BBY) raised to ‘overweight’ at Piper Jaffray; Peabody Energy Corp. (NYSE: BTU) cut to ‘market perform’ at BMO; Smithfield Foods Inc. (NYSE: SFD) raised to ‘neutral’ at BofA/Merrill Lynch; Adobe Systems Inc. (NASDAQ: ADBE) cut to ‘neutral’ at BofA/Merrill Lynch; and ArcelorMittal (NYSE: MT) raised to ‘buy’ at UBS.

Earnings reports since markets closed last Friday resulted in several price moves today, including these: Canadian Solar Inc. (NASDAQ: CSIQ) is down 14.6% at $3.19 (more coverage here); Chyron Corp. (NASDAQ: CHYR) is up 8.6% at $0.93; and Renren Inc. (NASDAQ: RENN) is up 0.7% at $3.09.

Before markets open tomorrow morning we are scheduled to hear from CVR Energy Inc. (NYSE: CVI), Diamond Foods Inc. (NASDAQ: DMND), Fuel Cell Energy Inc. (NASDAQ: FCEL), Urban Outfitters Inc. (NASDAQ: URBN), Bon-Ton Stores Inc. (NASDAQ: BONT), and Stage Stores Inc. (NYSE: SSI)

Some standouts among high-volume stocks today include:

BlackBerry (NASDAQ: BBRY) is up 13.4% at $14.81. The mobile phone maker got a boost from an announcement that AT&T Inc. (NYSE: T) would begin accepting pre-orders tomorrow for the company’s first touchscreen phone. More coverage here.

Zynga Inc. (NASDAQ: ZNGA) is up 10.6% at $3.95. The game developer’s shares jumped this afternoon following an analyst’s comment that Yahoo! Inc. (NASDAQ: YHOO) may be interested in acquiring the company.

Dick’s Sporting Goods Inc. (NYSE: DKS) is down 10.9% at $45.11. The sporting goods retailer reported weak results and offered lower guidance than analysts were expecting. More coverage here.

Stay tuned for Tuesday. We have noted the following events on the schedule (all times Eastern):