Wednesday Morning Coffee with TradingMarkets
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Good Morning! |
Goldman Sachs, Lehman Brothers Spark Massive Rally on Wall Street… Fed Lowers Interest Rate by 0.75% to 2.25%… Morgan Stanley Profit Declines 42%, Beats Estimates… General Mills Earnings Rise 18%… Actuant Profit Up… Adobe Systems Beats Estimates… Visa Prices IPO at $44 a Share, Above Expected Range.
Asian stocks up… European stocks down… Dollar drops… And the futures are pointing to a lower open.
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TradingMarkets 5 Business Stories You Need to Know |
Charging Toward Visa – Portfolio.com
The volatile market braces for the biggest IPO in U.S. history.
Morgan Stanley Net Beats Estimates on Equity Trading – Bloomberg
Morgan Stanley, the second-biggest U.S. securities firm, reported earnings that beat analysts’ estimates, led by record equity sales and trading revenue.
Goldman, Lehman Earnings:
Good Comes From the Bad – Wall Street Journal
Wall Street got a confidence boost from investment banks Goldman Sachs and Lehman Brothers, which reported sharply lower profits that dazzled investors because they could have been a lot worse.
Dollar Fades after Fed Bounce – MarketWatch
The dollar’s bounce in the wake of the U.S. Federal Reserve’s smaller-than-expected rate cut faded Wednesday morning amid ongoing worries about the financial sector and expectations that monetary policy will be eased further in coming months.
Fed Trims Rates Sharply, Sending the Markets Up – New York Times
The Federal Reserve reduced short-term interest rates for the sixth time in six months on Tuesday, capping an extraordinary series of measures it has taken to stabilize financial markets.
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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Goldman Sachs
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PowerRating) reported a 53% decline in net profit, after write-downs and lower fixed income revenues. However, first quarter earnings of $3.23 per share beat estimates by $0.65. - Lehman Brothers
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PowerRating) reported first quarter earnings of $0.81, a 57% drop, but still beat estimates by $0.09. After the sudden collapse of Bear Stearns, speculation that LEH could be next to fall has been rampant, but today’s numbers eased concern and led to a huge rally. - Bloomberg reported a Wachovia analysts’ note to investors that stated Merrill Lynch
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PowerRating) “is the riskiest” of the remaining U.S. investment banks. - Yahoo!
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PowerRating) laid out its vision for the future, stating that it expects revenue to double over the next three years. The company also reaffirmed its Q1 and FY08 outlook. - After the close, Adobe Systems
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PowerRating) reported earnings of $0.48, beating estimates by $0.03. - Visa
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PowerRating) is set to make its debut as a publicly traded company tomorrow. The $17 billion IPO will be the biggest stock sale in U.S. history, second only to the $22 billion offering of Industrial & Commercial Bank of China. - Morgan Stanley
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PowerRating) is scheduled to report before the market open on Wednesday, with analysts looking for $1.03 per share.
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 |
| ProCentury | PROS | 9 |
| Savient Pharmaceuticals | SVNT | 8 |
| Rick’s Cabaret International | RICK | 8 |
| Petroleum Development Corp. | PETD | 8 |
| Quanex | NX | 8 |
| View More Stocks |
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TradingMarkets Tracking the Wizards |
Up for the Down Stroke? 5 Overbought Stocks for Traders – TradingMarkets
What’s better than a market that is down big in the pre-market, opens low and closes up for the session?.
Why Is This ETF Up 43.9% for the Year? – TradingMarkets
The two day BSC panic resulted in four excellent RST reversals from the long side trading extended volatility, which is part of my “core framework” for traders. If you want to super charge your trading learn this methodology.
How to Time Market Bottoms, Part 2 – TradingMarkets
In this article, Tim Ord introduces you to the short-term analysis that he combines with the longer-term indicators covered in the previous lesson.
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