Wednesday Morning Coffee with TradingMarkets
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Good Morning! |
McCain Sews Up GOP Nomination… Clinton Wins Texas, Ohio… Australian Growth Slows Dramatically… Bernanke Calls for Creditor Forgiveness to Limit Foreclosures… Big Lots, Hewlett-Packard Up Big in Pre-Market… Morgan Upgrades Fannie Mae… Pfizer Reaffirms 2008 Guidance… Crude Oil Moving Higher.
Asian stocks down… European stocks up… Greenbacks are moving higher against the Japanese yen, British pound… And the futures are trending higher in the hour before the bell.
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TradingMarkets 5 Business Stories You Need to Know |
Yahoo Turns to AOL – New York Times
Whether stalling for time or truly looking for partners, executives at Yahoo have decided to postpone their annual meeting and step up joint venture talks with Time Warner’s AOL. Microsoft is said to be planning to take its offer directly to shareholders through a proxy fight if Yahoo executives do not accept the software giant’s now $41.2 billion bid.
Costco Profits Up More than 30% – Wall Street Journal
Quarterly profits were up by 31% for the membership-based discount retailer. The company credited international growth and rising consumer preference for savings for the gains. With its average PowerRating, Costco can be expected to perform about as well as the average stock over the next several months. Unfortunately, the same cannot be said of some of Costco’s peers–such as NDN and FDO. The answer to what ails these stocks coming up at PowerRatings.net.
Interest Rate Anarchy – DailyFX
With Canada and the United States loosening, the Australians tightening and Europe on hold, currency analyst, Kathy Lien ponders the direction of global interest rates in the latest edition of her forex market commentary at DailyFX.
Big Lots Beats Estimates – Reuters
Lower net income but higher earnings per share due to a buyback program was the story of Big Lots’ earnings announcement this morning. From the point of view of an investor looking for stocks that will be higher in a year, Big Lots’ low PowerRating suggests “big trouble.” There are better bets in this industry group for investors and long-term traders than BIG.
Bernanke Puts Pressure on Lenders – New York Times
Admitting that more could be done to help “underwater” mortgage borrowers, Federal Reserve Board chairman Ben Bernanke leaned on reluctant banks to begin writing down principal in an effort to limit likely foreclosures.
For more stories as they happen, go to our Breaking News section.
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
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Citigroup
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PowerRating) lost more than 4% after analysts at Merrill Lynch lowered their earnings forecast for the company. -
Intel
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PowerRating) worried investors after the company lowered its outlook for the current quarter. -
Staples
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PowerRating) reported earnings of $0.47 per share, in-line with estimates. -
Clearwire
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PowerRating) reported much worse than expected results. The company’s earnings were -$4.58 per share, versus expectations of -$1.01. -
Chico’s FAS
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PowerRating) is scheduled to report before the market opens this morning.. Analysts are expecting a Q4 2007 loss of -$0.15 per share. -
Also before the open, BJ’s Wholesale Club
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PowerRating) is expected to report earnings of $0.74 per share. - Big Lots
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PowerRating) reported earnings per shares of %1.04 this morning before the bell, beating analyst estimates.
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 Top PowerRatings Stocks for Today |
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Company
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Symbol | PowerRatings |
| Amkor Technology | AMKR | 10 |
| ProCentury | PROS | 9 |
| W&T Offshore | WTI | 8 |
| TheStreet.com | TSCM | 8 |
| Superior Well Services | SWSI | 8 |
| » View More Stocks |
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TradingMarkets Tracking the Wizards |
Hedge Funds Move on Dillard’s – New York Times
High-end retailer Dillard’s finds itself the subject of an intense effort by a pair of activist hedge funds, Barington Capital and the Clinton Group, to change the face of the company’s board of directors. Credit Suisse notes that more than 12% of Dillard shares could be said to be owned by activist shareholders.
Think Like a Winner, Trade Like a Winner – TradingMarkets
The latest in our series of educational, How-To articles on trading and the markets, forex trader and author Selwyn Gishen talks about the importance of telling yourself the right messages to build the proper, positive mindset necessary to succeed as a trader in “How to Develop the Successful Trader’s Mindset.”
Up or Down? TradingMarkets New Trading Contest – TradingMarkets
We pick the stock. You pick the direction. Sign up today for TradingMarkets new stock market contest and compete for $14,000 in cash prizes. Registration is free and you can start playing today.
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TradingMarkets Playbook |
Stocks finished Tuesday off the lows, a bullish development for the session and perhaps for stocks moving forward. For the first time in days, the number of high Short Term PowerRating stocks, strong stocks that are temporarily oversold, is comparable to the number of low Short Term PowerRating stocks, the weak stocks that are temporarily overbought. This means that buyers can feel confident in buying pullbacks and corrections in the stocks that have not broken down below their 200-day moving averages. Perhaps most clear is the reality that the time for aggressive shorting has passed.
David Penn is Senior Editor at TradingMarkets.com.
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