Disney (DIS) was upgraded to ‘Buy’ from ‘Hold’ at Evercore ISI with a 12-month target price of $120. Facebook (FB) was rated a new ‘Buy’ at Aegis Capital with a 12-month target price of $150. QEP Resources (QEP) was upgraded to ‘Outperform’ from ‘Market Perform’ at FBR Capital Markets with a 12-month target price of…
Market Update: Stock futures are higher ahead of Tuesday’s open on the first trading day of 2017. Gary’s Thoughts: Happy new year to all. Hope you had a great holiday. We are back in the states with serious jet lag but nevertheless, alive and well. We will wait til end of week for bigger report…
Stocks opened higher on Wednesday but turned lower before the Dow could reach 20,000. Economic data was light. Pending home sales slid -2.5%, missing estimates for a gain of +0.5%. In other news, GNC said it will close all 4,400 US stores today to overhaul its pricing system. Anthera Pharmaceuticals (ANTH) plunged -65% after the money-losing biotech…
Stocks were closed on Monday in observance of the Christmas holiday. The market edged higher on Tuesday on the first day of the final trading day of the year. The Nasdaq composite and Nasdaq 100 hit new 52-week highs but pulled back and closed in the middle of the daily range. The S&P Corelogic Case-Shiller home…
Market Update: Stock futures are higher ahead of Wednesday’s open as 2016 winds down. Gary’s Thoughts: As we write this, market is open for a few minutes…nominally higher. AMZN indeed jumps above 50 day early. Let’s see if it can hold. Big cap growth has been mostly comatose since the election. Economic Calendar: Redbook 8:55…
Expect volume to continue to be light as we head into the new year. But except for those areas we have been telling you to avoid, all is well. In fact, major indices are sitting tight after the recent move up. This tells you that so far, even with the move up, sellers refuse to…
Stocks were quiet on Thursday as the Dow continued to trade just below 20,000. Economic data was mixed. Initial jobless claims rose to 275,000 last week, missing estimates for 256,000. Separately, durable goods for November slid by -4.6%, which estimates for -4%. On the positive side, the final read for Q3 GDP was +3.5%, beating the Street’s…
Market Update: Stock futures are slightly flat before Friday’s open on the final full trading week of the year. Gary’s Thoughts: Volume will taper off today, We are traveling and will have a complete wrap up this weekend. Economic Calendar: New Home Sales 10:00 AM ET Consumer Sentiment 10:00 AM ET Baker-Hughes Rig Count 1:00…
Market Update: Stock futures are slightly lower before Thursday’s open as investors wait for a flurry of economic data to be released, including the final read on Q3 GDP. Gary’s Thoughts: Uber removed self driving cars from San Fran. Good! We despise the idea of self driving cars…because computers cannot react like people. Futures flat…
On Wednesday, stocks were very quiet as the Dow Jones Industrial Average hovered just below 20k. Healthcare stocks lagged and oil turned negative after a surprise build in stockpiles. Economic data was very light, existing home sales for November, hit 5.61 million units, beating estimates for 5.535 million. Year-over-year, existing home sales swelled by 15.4%. A…
