Past Performance is NOT a Guarantee of Future Results – 04/30/2014

One thing that repeated Tuesday is the continued underperformance of small cap stocks. Year to date the S&P is up +1.6% while the Russell 2000 trails far behind at -3.7%.

So Reity, should we overweight safer large caps?

By nature I am a contrarian. So the recent outperformance of large caps does not tempt me to overweight in that direction. As they say:

“Past performance is not a guarantee of future results” .

As it pertains to the current investment landscape, this year is about squeezing excess premium from stocks with bloated PEs. So whenever valuation is in question, then you want to own stocks with high enough earnings growth to justify their PE.

Simply, that is not going to be found in year 5 of a bull rally in the large cap space as most are too big to have great earnings growth. Better to search for lesser known small and mid cap names that have excellent growth prospects along with more reasonable valuations.

Best,

Steve Reitmeister ( aka Reity…pronounced “Righty” )

Executive Vice President

Annunci

ADVFN – Report dei mercati 30/04/2014

MERCATO USA

Borsa Usa: indici chiudono in rialzo, bene Merck, Hp e Sprint. Giù Goodyear e Coach

A New York i principali indici hanno chiuso la seduta in rialzo. Il Dow Jones ha guadagnato lo 0,53%, l’S&P500 lo 0,48% e il Nasdaq Composite lo 0,72%. L’indice di fiducia dei consumatori statunitensi, calcolato dal Consumer Board, è diminuito a ad aprile a 82,3 punti, da 83,9 punti (dato rivisto) della rilevazione precedente e al di sotto delle previsioni degli addetti ai lavori pari a 83 punti.

L’Indice S&P/Case Shiller, che misura l’andamento dei prezzi delle abitazioni nelle 20 principali città americane, ha evidenziato nel mese di febbraio un incremento del 12,9% rispetto allo stesso periodo del 2013, lievemente inferiore alle stime degli addetti ai lavori (+13%), dal +13,2% della rilevazione precedente.

Sul fronte societario Merck +3,6%. La big pharma ha chiuso il primo trimestre 2014 con utili in crescita da 1,58 a 1,71 miliardi di dollari e ha confermato l’outlook 2014 per un eps a 2,15-2,47 dollari. L’utile per azione nei tre mesi allo scorso 31 marzo è salito a 57 centesimi di dollaro, quello rettificato a 88 centesimi contro attese degli analisti per 79 centesimi. Hewlett-Packard +2,39%.

Pacific Crest ha alzato il rating sul titolo del produttore di pc a outperform da market perform. Sprint +11,31%. L’operatore telefonico ha chiuso il primo trimestre con una perdita netta di 151 milioni di dollari, inferiore alle attese degli analisti. L’utile operativo si è attestato a 420 milioni di dollari, miglior risultato trimestrale in oltre sette anni. Coca-Cola Enterprises -0,94%.

Nomura ha tagliato ha il rating sul titolo dell’azienda esclusivista per l’imbottigliamento della nota bevanda analcolica per l’Europa occidentale a reduce da neutral. Goodyear -7,55%. La società di pneumatici ha chiuso il primo trimestre del 2014 con vendite in calo da 4,85 a 4,46 miliardi di dollari. Il dato è inferiore alle attese. Coach -9,34%. Il produttore di articoli di lusso ha detto di attendersi per il quarto trimestre fiscale un calo delle vendite di circa il 10%. Nel terzo trimestre il giro d’affari è calato più del previsto.

MERCATI ASIATICI

Borsa giapponese poco mossa questa mattina

Nikkei (+0,1%) praticamente invariato questa mattina dopo la festività di ieri. Non muta il quadro grafico, con i prezzi che non sono riusciti a lasciarsi alle spalle area 14500, livello intorno al quale si sono mossi nel corso della precedente ottava, e a risalire fino ad area 15000/15100. Sarebbero infatti necessari movimenti oltre questo ostacolo, coincidente con la media mobile a 100 giorni, per sgombrare il campo da dubbi sulla capacità di ripresa e riportare fiducia negli acquisti. Probabile in tal caso la ripresa del cammino verso l’area critica successiva, a 15500 e più in alto in area 15700 (gap ribassista del 24 gennaio). Difficolta’ nel lasciarsi alle spalle 15000 e la violazione di 14200 porterebbero inevitabilmente ad un nuovo confronto con il supporto dei 13900 punti, dove si colloca il 61,8% di ritracciamento del rialzo partito lo scorso giugno, un livello che allo stato attuale rappresenta l’ultimo baluardo in grado di scongiurare l’affondo verso 13613 (per la ricopertura del gap rialzista del 3 settembre) e 13200 punti.

L’incertezza è dovuta alla decisione della BoJ di mantenere inalterata la propria politica, circostanza che ha deluso chi si attendeva invece un ampliamento degli stimoli economici. L’istituto ha infatti annunciato di aver programmato di continuare a iniettare moneta nell’economia con la stessa quantità utilizzata finora spiegando che continuerà ad acquistare asset per incrementare la base monetaria per 60-70.000 miliardi di yen l’anno (400-500 miliardi di euro).

Restando in ambito macroeconomico da segnalare che la produzione industriale del Sol Levante è cresciuta dello 0,3% in marzo, progresso legato anche all’aumento della tassazione sui consumi in vigore da aprile. L’incremento, al netto dei fattori stagionali, è stato leggermente inferiore allo 0,5% previsto dagli analisti di Wall Street Journal e Nikkei. Come mostrano i dati del ministero giapponese di Economia, Commercio e Industria, la crescita arriva dopo la flessione del 2,3% in febbraio e si accompagna al brusco calo del 3,3% registrato dall’export in marzo. Ma le aziende nipponiche prevedono che se in aprile, per la questione fiscale, la produzione calerà dell’1,4% in maggio tornerà a crescere anche se solo dello 0,1%.

In crescita anche la produzione di auto, camion e bus che a marzo ha fatto segnare un +14%, settimo mese consecutivo di progresso, secondo quanto comunicato dalla Japan Automobile Manufacturers Association. Lo scorso mese la produzione di vetture è salita a 939.761 unità da 824.114 del marzo 2013. La domanda di vetture domestica è cresciuta invece del 17,4% a 783.389 in marzo, anche per l’entrata in vigore della nuova tassa sui consumi dal 1° aprile in Giappone.


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MERCATI EUROPEI

Borse europee: indici negativi, in evidenza Alstom

Le principali Borse europee hanno aperto la seduta in ribasso. Il Dax30 di Francoforte cede lo 0,13%, il Cac40 di Parigi lo 0,3%, il Ftse100 di Londra lo 0,01% e l’Ibex35 di Madrid lo 0,1%. Alstom +9%. Il titolo del gruppo francese è tornato alle contrattazioni dopo diversi giorni di sospensione. La società ha annunciato di aver ricevuto una offerta per la cessione delle attività energetiche al colosso statunitense General Electric per 12,5 miliardi di euro.

Daimler -2%. Il costruttore di auto tedesco ha chiuso il primo trimestre con un utile netto di 1,086 miliardi di euro, in crescita rispetto ai 564 milioni di un anno prima. I ricavi sono aumentati del 13% a 29,5 miliardi mentre il risultato operativo ha raggiunto 1,787 miliardi (917 milioni nel primo trimestre 2013). Nel periodo il gruppo ha venduto 565.800 veicoli. Per l’intero esercizio 2014 la società stima un significativo incremento dell’utile operativo.
Barclays +0,1%. Secondo indiscrezioni il gruppo bancario britannico potrebbe annunciare la creazione di una bad bank.

British American Tobacco -0,6%. Il produttore di sigarette ha registrato nel primo trimestre un calo del giro d’affari del 12%. A cambi costanti i ricavi risultano in crescita del 2%. Osram -3%. Lo specialista dell’illuminazione ha chiuso il primo trimestre con un utile di 69 milioni di euro contro la perdita di 19 milioni di un anno prima. L’Ebitda è aumentato del 17% a 116 milioni mentre i ricavi sono calati del 3% a 1,29 miliardi. BNP Paribas -3%. La banca francese ha avvertito che le sanzioni Usa per la violazione delle norme antiriciclaggio potrebbero superare significativamente gli 800 milioni di euro (cifra accantonata lo scorso trimestre). Nel primo trimestre 2014 l’utile è stato superiore alle attese.

Royal Dutch Shell +2%. Il gruppo petrolifero ha alzato il dividendo e valuta la cessione di asset in Norvegia. La società anglo-olandese ha chiuso il primo trimestre con un utile di 4,47 miliardi di dollari, in calo del 44% rispetto ad un anno prima. Orange +2%. Barclays ha alzato il rating sul titolo dell’operatore telefonico francese a equal weight da underweight.

APERTURA MERCATO ITALIANO

Borsa italiana in rosso, Ftse Mib -0,49%. Vendite su MPS, molto bene Safilo

Il Ftse Mib segna -0,49%, il Ftse Italia All-Share -0,43%, il Ftse Italia Mid Cap +0,04%, il Ftse Italia Star +0,04%.

Borse europee poco sotto la parità. Ieri sera a Wall Street l’S&P 500 ha chiuso a +0,48%, il Nasdaq Composite a +0,72% e il Dow Jones Industrial a +0,53%. I future sui principali indici USA al momento sono in calo dello 0,3% circa. A Tokyo il Nikkei 225 ha terminato a +0,11%, mentre a Hong Kong l’Hang Seng al momento segna -1,5%.

Banca MPS (-3,6%) in forte calo dopo che l’a.d. Fabrizio Viola ha dichiarato in assemblea che l’incremento dell’entità dell’aumento di capitale da 3 a 5 miliardi di euro è stato determinato da problemi di qualità dei crediti. Inoltre secondo il manager ha espresso l’auspicio che 5 miliardi siano sufficienti ma per una previsione definitiva occorrerà attendere l’analisi completa dell’impatto degli stress test della BCE attualmente in corso.
Perde terreno anche BP Emilia Romagna (-1,1%) in scia alla decisione di Standard & Poor’s di abbassare da stabile a negativo l’outlook di Banca Popolare dell’Emilia Romagna. Il rating del gruppo rimane a BB-/B.

In calo Luxottica (-1,6%) che ieri sera a mercati chiusi ha diffuso i risultati del primo trimestre. I ricavi sono calati dell’1,2% a 1,842 miliardi di euro, l’Ebit è diminuito dell’1,7% a 270 milioni mentre l’utile è sceso a 159 milioni. Gli analisti avevano previsto risultati leggermente migliori: ricavi per 1,874 miliardi, un Ebit di 274 milioni e un utile di 159 milioni.

Forte rialzo invece per Safilo Group (+5%) che ha archiviato il primo trimestre con ricavi in calo dell’1,3% a/a (+1,9% a cambi costanti), EBITDA a +2,3% e utile di pertinenza del gruppo in crescita di ben il 22,9% a/a a 16,5 milioni di euro.


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Analisi e Segnali di Borsa quotidiani dai professionisti della finanza.

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TITOLI DEL GIORNO

BP Emilia Romagna ha reagito a metà mese dopo aver testato la media a 100 sedute in area 7,80. Il titolo si è poi posizionato lateralmente a cavallo di 8,40 euro, archiviando la seduta di ieri a 8,53, in rialzo di oltre 3 punti percentuali. Il superamento di quota 8,50 rappresenta un primo importante segnale di ripresa nel breve che dovrà però essere confermato anche nella seduta odierna affinchè i corsi possano ambire al ritorno in prima battuta in area 9,00 e poi al ricongiungimento con i massimi annuali toccati ad inizio aprile a 9,76 euro. Se tale scenario dovesse realizzarsi a beneficiarne sarebbero anche le prospettive di medio lungo periodo tanto che potremmo tornare a parlare di obiettivi ambiziosi in area 11,50 (ulteriori conferme oltre 10,00 euro). Il cedimento della media a 100 sedute in area 7,80 e più in basso quello della linea che sale dai bottom di luglio, ora a 7,30 circa, sovvertirebbero invece le forze in campo, anticipando l’ampliamento della correzione in direzione di quota 6,30.
Per chi volesse acquistare il titolo: intervenire oltre 8,65 per 9,00 euro (successivo a 9,70), stop sotto 8,30.
Per chi detiene attualmente il titolo: mantenere aperte le posizioni sopra 7,80 per gli obiettivi a 9,00 e 9,70 euro.

Gtech sta faticosamente provando a opporsi alla tendenza ribassista originata dal massimo pluriennale di inizio marzo. Il tentativo acquisirebbe credibilità in caso di superamento di 21,90 euro, operazione che favorirebbe un allungo verso 22,65 almeno, con chance di assistere successivamente a un’estensione verso 24,13. Discese sotto 21,20/21,30 preannuncerebbero invece un test di area 20,50, supporto determinante per scongiurare approfondimenti più consistenti verso 18,50 circa.
Per chi volesse acquistare il titolo: posizioni long oltre 21,90 per 22,65, stop sotto 21,60.
Per chi detiene attualmente il titolo: incrementare oltre 22,65 per 24,13, uscire alla violazione di 20,50.

Saipem riesce dopo una lunga rincorsa a chiudere l’ampio gap ribassista lasciato nel giugno scorso. Il titolo potrebbe a questo punto prendersi una pausa di consolidamento, ipotesi che renderebbe fisiologiche correzioni verso 18,50 circa, riferimento dal quale poi eventualmente ripartire verso gli obiettivi a 23 e 24,80. Al di sotto di 18,50 si creerebbero invece le premesse per affondi sui 18 e quindi sui 17,50, supporto determinante per scongiurare l’ipotesi di inversione di tendenza.
Per chi volesse acquistare il titolo: posizioni long sui livelli attuali o sulla debolezza fino a 18,50 per 23, stop sotto 18,50.
Per chi detiene attualmente il titolo: incrementare sui livelli attuali o sulla debolezza fino a 18,50 per 23 e 24,80, ridurre sotto 18 e uscire alla violazione di 17,50.

DATI MACRO ATTESI

Mercoledì 30 aprile 2014
GIA Riunione BoJ e decisione tassi;
01:50 GIA Produzione industriale mar;
07:00 GIA Indice fiducia imprese apr;
08:00 GER Vendite al dettaglio;
08:45 FRA Consumi mar;
09:00 SPA Inflazione (prelim.) apr;
09:00 SPA PIL (prelim.) T1;
09:55 GER Tasso disoccupazione apr;
09:55 GER Variazione n° disoccupati apr;
10:00 ITA Tasso disoccupazione (prelim.) mar;
11:00 EUR Inflazione (flash) apr;
11:00 ITA Inflazione (prelim.) apr;
12:00 ITA Indice prezzi alla produzione mar;
14:15 USA Nuovi occupati (ADP) apr;
14:30 USA Indice costo del lavoro T1;
14:30 USA PIL (1a stima) T1;
15:45 USA Indice PMI Chicago apr;
16:30 USA Scorte settimanali petrolio e derivati;
20:00 USA Riunione FOMC (Fed) e decisione tassi.


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HEADLINES

Luxottica: risultati del primo trimestre leggermente inferiori alle attese
Ieri sera a mercati chiusi la società Luxottica ha diffuso i risultati del primo trimestre. I ricavi sono calati dell’1,2% a 1,842 miliardi di euro, l’Ebit è diminuito dell’1,7% a 270 milioni mentre l’utile è sceso a 159 milioni. Gli analisti avevano previsto ricavi per 1,874 miliardi, un Ebit di 274 milioni e un utile di 159 milioni.

Bper: S&P’s rivede l’outlook a negativo
L’agenzia di rating Standard & Poor’s, nell’ambito di una revision del sistema bancario europeo, ha deciso di abbassare da stabile a negative l’outlook di Banca Popolare dell’Emilia Romagna. Il rating del gruppo rimane a BB-/B.

Eems: in 2013 perdita scende a €10,7mln
Il Consiglio di Amministrazione di Eems  ha approvato il progetto di bilancio civilistico ed il bilancio consolidato al 31 dicembre 2013. I Ricavi del 2013 si sono attestati a 30,9 milioni di euro (67,7 milioni di euro nel 2012) e l’ebitda è risultato negativo per 5 milioni di euro (negativo per 12,2 milioni di euro nel 2012). L’ebit è negativo per 8,3 milioni di euro (-27,6 milioni di euro nel 2012). Il periodo si chiude con una perdita netta in calo a 10,7 milioni di euro dai 38,7 milioni di un anno fa. La posizione finanziaria netta è negativa per 30,8 milioni di euro al 31 dicembre 2012 (-47,5 milioni di euro al 31 dicembre 2012.

General Electric propone 12,3 miliardi di euro per la divisione energy di Alstom
General Electric e Alstom confermano l’offerta d’acquisto da parte della conglomerata Usa per i soli business nell’energia del gruppo francese, in un’operazione del valore di 12,35 miliardi di euro. Fonti citate dal Financial Times non escludono possibili rilanci o un ulteriore intervento di Siemens, ma la trattativa sembra in dirittura d’arrivo e Alstom potrebbe focalizzarsi sul business nei trasporti una volta chiuso il deal. La divisione energy di Alstom impiega 65.000 persone e ha generato ricavi per 15 miliardi di euro lo scorso anno.

La Bank of Japan prosegue con gli stimoli all’economia del Sol Levante
La Bank of Japan non sorprende annunciando di aver programmato di continuare a iniettare moneta nell’economia con la stessa quantità utilizzata finora. In un comunicato, l’istituto centrale nipponico ha spiegato che continuerà ad acquistare asset per incrementare la base monetaria per 60-70.000 miliardi di yen l’anno (400-500 miliardi di euro). Invariati i tassi di interesse allo 0,10 per cento.

Raddoppiano i ricavi di Twitter, ma cresce anche il rosso e il titolo perde il 10% in after market
Raddoppiano i ricavi di Twitter, che segna un rallentamento nella crescita degli utenti registrati e perdite in aumento nel primo trimestre dell’anno. Twitter nei tre mesi allo scorso 31 marzo ha registrato un rosso di 132 milioni di dollari, pari a 23 centesimi per azione, contro 27 milioni, e 21 centesimi, del primo trimestre 2013. I ricavi sono cresciuti del 119% a 250 milioni di dollari. Un balzo che non è bastato a Wall Street: il titolo Twitter arrivava infatti a perdere oltre il 10% martedì nell’aftermarket.

Quartz Daily Brief—Twitter growth, China GDP, a failed pork IPO, robot jobs

Quartz - qz.com

Good morning, Quartz readers!

What to watch for today

Iraq heads to the polls. Commentators expect Nouri al-Maliki, Iraq’s incumbent prime minister, to secure a third term when the country votes in its first election since the withdrawal of US troops. However, even if Maliki wins the vote, he could have a tricky task ahead in forming a government.

Alstom’s statement on the GE offer. The French rail and turbine company reportedly accepted General Electric’s $10 billion offer last night, and will make a statement regarding the deal this morning, before its shares resume trading. This does not mean Alstom cannot examine unsolicited offers, however.

GlaxoSmithKline’s drugs deal hurts its profits. GSK is set to post a 12% drop in earnings in its first quarter, an uncharacteristic dip after eight consecutive profitable quarters. The decline is likely linked to GSK’s recent $16 billion deal (paywall) with Novartis.

Harsh weather hampers US growth. A brutal winter has taken its toll on the US economy, which is expected to have grown 1% in the first quarter of 2014 (paywall), compared to 2.6% in the fourth quarter of 2013.

Facebook unveils a mobile ad network. CEO Mark Zuckerberg is expected to explain plans to make more money from the social network’s mobile users at a developer conference. One way may be allowing advertisers to place highly targeted ads on non-Facebook apps using data from Facebook users’ behavior.

While you were sleeping

China reduced its GDP forecast.The Chinese Academy of Social Sciences, one of China’s most important think tanks, revised its expectation for 2014 GDP growth to 7.4%, from 7.5%.

The US’s “world’s largest economy” crown is slipping. China may overtake the US to become the largest economy in the world this year, based on purchasing power parity, far quicker than previously expected. China’s economy was 87% of the US in 2011, based on PPP, a World Bank unit said, up from 43% in 2005.

Hong Kong’s pork IPO got canceled. The world’s largest pork company, China’s WH Group, canceled what would have been Hong Kong’s largest IPO in three years. The company said it would return investors’ money after a planned $5.3 billion sale was cut to just $1.9 billion.

Twitter’s user growth was modest. About 255 million people now actively use the social network, up from 241 million at the end of 2013. Revenue beat analyst expectations overall, but the revenue Twitter makes each time a user checks their timeline is actually falling.

Apple kicked off its second bond sale. The iPhone maker has already raked in $40 billion worth of orders (paywall) for the $12 billion worth of bonds it plans to sell to fund its shareholder buyback program. Most of Apple’s cash is held overseas, and taking on more debt is a cheaper option than bringing that money to the US.

Quartz obsession interlude

Lily Kuo on China’s attempts to hide just how bad its income equality has become. “Turns out the gap between wealthy and poor Chinese may be much larger than the government has said and also a good bit wider than that of the US. According to a new study from the University of Michigan, published in the Proceedings of the National Academy of Sciences of the United States (NAS), China’s Gini coefficient is now around 0.55. That’s higher than the official released number last year of 0.474 and higher than America’s most recently released number of 0.477. (The coefficient, a common measure of income inequality, ranges from 0 to 1, with 0 representing the most equal society.)” Read more here.

Matters of debate

For capitalism to work, learn accounting. Before we can discuss financial accountability of countries or companies, everyone should know double-entry bookkeeping.

A high number of guards and firefighters is a sign of an unequal society. They’re wasting productive time guarding other people’s wealth.

Robots are coming for your jobs. Our interactive infographic lets you know whether you’re at risk.

A tech-stock crash is a good thing. “A reduction of euphoria reflects a return to reason.”

Cheerleaders deserve your sympathy. Their pay and work conditions are subpar—especially in a multibillion-dollar industry such as the National Football League.

Android will conquer the US. Now that Apple has taught people how to use smartphones,  Android’s trickier customizability is no longer off-putting.

New software will make bitcoin crime even easier. “Dark Wallet” protects user information far more than previous wallets already do, making it great for money laundering.

Heartbleed has been used to hack cyber-criminals. The virus has been used by authorities to investigate secret web forums used by attackers.

How to get ketchup out of the glass bottle. The physics of fluids are complicated but the solution is simple: Give the bottle some hard shakes with the lid still on.

Breast-milk banks are popping up all over the place. There will be 22 in the US and Canada by year end that dole out screened, pasteurized breast milk.

Our best wishes for a productive day. Please send any news, comments, robot resumés, and condiment tricks to hi@qz.com. You can follow us on Twitter here for updates throughout the day.

You’re getting the Europe and Africa edition of the Quartz Daily Brief. To change your region, click here. We’d also love it if you shared this email with your friends. They can sign up for free here.

ARN Daily Basic: Daily Analysts’ Updates for 4/29/2014

Analysts’ Upgrades

  • African Barrick Gold PLC (LON:ABG) was upgraded by analysts at Barclays to an “equal weight” rating. They now have a GBX 260 ($4.37) price target on the stock. Tweet This.
  • African Barrick Gold Ltd (NASDAQ:ABGLY) was upgraded by analysts at Barclays to an “equal weight” rating. Previous closing price of $9.10. Tweet This.
  • Barrick Gold Corp. (TSE:ABX) was upgraded by analysts at HSBC from an “underweight” rating to a “neutral” rating. They now have a C$18.00 price target on the stock, up previously from C$17.00. 5.9% downside from the previous close of $19.12. Tweet This.
  • Barrick Gold Co. (NYSE:ABX) was upgraded by analysts at HSBC from an “underweight” rating to a “neutral” rating. They now have a $18.00 price target on the stock, up previously from $17.00. 3.9% upside from the previous close of $17.33. Tweet This.
  • Accuride Co. (NYSE:ACW) was upgraded by analysts at CRT Capital from a “fair value” rating to a “buy” rating. They now have a $6.00 price target on the stock, up previously from $4.50. 20.7% upside from the previous close of $4.97. Tweet This.
  • Advent Software Inc. (NASDAQ:ADVS) was upgraded by analysts at Sandler O’Neill from a “hold” rating to a “buy” rating. Previous closing price of $25.99. Tweet This.
  • AMEC plc (LON:AMEC) was upgraded by analysts at HSBC to an “overweight” rating. They now have a GBX 1,425 ($23.94) price target on the stock, up previously from GBX 1,130 ($18.99). Tweet This.
  • Anadarko Petroleum Co. (NYSE:APC) was upgraded by analysts at Global Hunter Securities from a “neutral” rating to an “accumulate” rating. They now have a $115.00 price target on the stock, up previously from $108.00. 15.7% upside from the previous close of $99.36. Tweet This.
  • AstraZeneca plc (LON:AZN) was upgraded by analysts at Credit Suisse to a “neutral” rating. They now have a GBX 4,800 ($80.65) price target on the stock, up previously from GBX 4,000 ($67.20). Tweet This.
  • AstraZeneca plc (ADR) (NYSE:AZN) was upgraded by analysts at Panmure Gordon from a “hold” rating to a “buy” rating. Previous closing price of $77.01. Tweet This.
  • AstraZeneca plc (ADR) (NYSE:AZN) was upgraded by analysts at Kepler Capital Markets from a “reduce” rating to a “hold” rating. Previous closing price of $77.01. Tweet This.
  • Boardwalk Pipeline Partners, LP (NYSE:BWP) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating. They now have a $14.00 price target on the stock, down previously from $17.00. 13.5% downside from the previous close of $16.19. Tweet This.
  • Boardwalk Pipeline Partners, LP (NYSE:BWP) was upgraded by analysts at Credit Suisse from a “neutral” rating to an “outperform” rating. They now have a $20.00 price target on the stock, up previously from $15.00. 23.5% upside from the previous close of $16.19. Tweet This.
  • Boardwalk Pipeline Partners, LP (NYSE:BWP) was upgraded by analysts at Raymond James from an “underperform” rating to a “market perform” rating. Previous closing price of $16.19. Tweet This.
  • Chegg Inc (NASDAQ:CHGG) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating. They now have a $8.00 price target on the stock. They noted that the move was a valuation call. 52.4% upside from the previous close of $5.25. Tweet This.
  • Choice Hotels International Inc. (NYSE:CHH) was upgraded by analysts at Barclays from an “underweight” rating to an “equal weight” rating. They now have a $47.00 price target on the stock. 6.5% upside from the previous close of $44.15. Tweet This.
  • CLARCOR Inc. (NYSE:CLC) was upgraded by analysts at BB&T Corp. from a “hold” rating to a “buy” rating. They now have a $65.00 price target on the stock. They noted that the move was a valuation call. 17.9% upside from the previous close of $55.14. Tweet This.
  • Cable and Wireless Communications Plc (LON:CWC) was upgraded by analysts at Goldman Sachs to a “buy” rating. They now have a GBX 68 ($1.14) price target on the stock, up previously from GBX 50 ($0.84). Tweet This.
  • DSW Inc. (NYSE:DSW) was upgraded by analysts at Sterne Agee from a “neutral” rating to a “buy” rating. They now have a $39.00 price target on the stock. 19.3% upside from the previous close of $32.70. Tweet This.
  • El Paso Electric Company (NYSE:EE) was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating. They now have a $41.50 price target on the stock, up previously from $37.50. 12.8% upside from the previous close of $36.80. Tweet This.
  • Facebook Inc (NASDAQ:FB) was upgraded by analysts at Credit Suisse from a “neutral” rating to an “outperform” rating. They now have a $87.00 price target on the stock, up previously from $65.00. 55.0% upside from the previous close of $56.14. Tweet This.
  • GP Strategies Co. (NYSE:GPX) was upgraded by analysts at B. Riley from a “sell” rating to a “neutral” rating. Previous closing price of $25.75. Tweet This.
  • Hewlett-Packard Company (NYSE:HPQ) was upgraded by analysts at Pacific Crest from a “sector perform” rating to an “outperform” rating. They now have a $37.00 price target on the stock. 14.9% upside from the previous close of $32.19. Tweet This.
  • Ingram Micro Inc. (NYSE:IM) was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating. They now have a $33.00 price target on the stock. 23.9% upside from the previous close of $26.63. Tweet This.
  • Infinera Corp. (NASDAQ:INFN) was upgraded by analysts at Goldman Sachs from a “buy” rating to a “conviction-buy” rating. Previous closing price of $8.60. Tweet This.
  • iRobot Co. (NASDAQ:IRBT) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $33.00 price target on the stock. 0.3% downside from the previous close of $33.11. Tweet This.
  • Intuitive Surgical, Inc. (NASDAQ:ISRG) was upgraded by analysts at Sterne Agee from an “underperform” rating to a “neutral” rating. They now have a $380.00 price target on the stock, up previously from $360.00. They noted that the move was a valuation call. 3.3% upside from the previous close of $367.80. Tweet This.
  • Lakeland Bancorp Inc. (NASDAQ:LBAI) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $13.00 price target on the stock, up previously from $12.00. 25.6% upside from the previous close of $10.35. Tweet This.
  • Fidelity Southern Corp. (NASDAQ:LION) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $16.00 price target on the stock. 17.6% upside from the previous close of $13.60. Tweet This.
  • MidWestOne Financial Group Inc. (NASDAQ:MOFG) was upgraded by analysts at FIG Partners from a “market perform” rating to an “outperform” rating. Previous closing price of $23.98. Tweet This.
  • Noble Energy, Inc. (NYSE:NBL) was upgraded by analysts at Iberia Capital from a “sector perform” rating to an “outperform” rating. They now have a $90.00 price target on the stock. 24.7% upside from the previous close of $72.17. Tweet This.
  • Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) was upgraded by analysts at Goldman Sachs from a “neutral” rating to a “buy” rating. They now have a $37.00 price target on the stock. 16.8% upside from the previous close of $31.67. Tweet This.
  • GMK Noril’skiy nikel’ OAO (NASDAQ:NILSY) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to an “overweight” rating. Previous closing price of $18.08. Tweet This.
  • GMK Noril’skiy nikel’ OAO (OTCMKTS:NILSY) was upgraded by analysts at JPMorgan Chase & Co. to an “underweight” rating. Tweet This.
  • Novartis (NYSE:NVS) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. Previous closing price of $85.36. Tweet This.
  • Resolution Limited (LON:RSL) was upgraded by analysts at Deutsche Bank to a “buy” rating. They now have a GBX 332 ($5.58) price target on the stock, down previously from GBX 333 ($5.59). Tweet This.
  • Societe Generale SA (NASDAQ:SCGLY) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. Previous closing price of $12.03. Tweet This.
  • Stone Energy Co. (NYSE:SGY) was upgraded by analysts at Johnson Rice from an “overweight” rating to a “focus list” rating. Previous closing price of $44.68. Tweet This.
  • Tech Data Corp (NASDAQ:TECD) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $68.00 price target on the stock. 9.6% upside from the previous close of $62.06. Tweet This.
  • Teradyne Inc. (NYSE:TER) was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating. Previous closing price of $17.30. Tweet This.
  • Transition Therapeutics Inc (TSE:TTH) was upgraded by analysts at RBC Capital from an “underperform” rating to a “sector perform” rating. Tweet This.
  • Transition Therapeutics (NASDAQ:TTHI) was upgraded by analysts at RBC Capital from an “underperform” rating to a “sector perform” rating. They now have a $5.50 price target on the stock. 18.5% upside from the previous close of $4.64. Tweet This.
  • ING US Inc (NYSE:VOYA) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating. They now have a $41.00 price target on the stock. 19.5% upside from the previous close of $34.32. Tweet This.
  • John Wood Group PLC (LON:WG) was upgraded by analysts at HSBC to an “overweight” rating. They now have a GBX 900 ($15.12) price target on the stock, up previously from GBX 740 ($12.43). Tweet This.
  • WSFS Financial Corp. (NASDAQ:WSFS) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $80.00 price target on the stock, down previously from $82.00. 20.4% upside from the previous close of $66.44. Tweet This.
  • XOMA Corp (NASDAQ:XOMA) was upgraded by analysts at MLV & Co from a “hold” rating to a “buy” rating. They now have a $7.00 price target on the stock. They noted that the move was a valuation call. 83.2% upside from the previous close of $3.82. Tweet This.
  • Get today’s most recent analysts’ upgrades at AnalystRatings.net

Analysts’ Downgrades

  • Anglo American plc (LON:AAL) was downgraded by analysts at HSBC to a “neutral” rating. They now have a GBX 1,600 ($26.88) price target on the stock, up previously from GBX 1,580 ($26.55). Tweet This.
  • Anglo American plc (NASDAQ:AAUKY) was downgraded by analysts at HSBC from an “overweight” rating to a “neutral” rating. Previous closing price of $12.69. Tweet This.
  • Anglo American plc (OTCMKTS:AAUKY) was downgraded by analysts at HSBC from an “overweight” rating to a “neutral” rating. Tweet This.
  • ABB Ltd (NYSE:ABB) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating. They now have a $23.00 price target on the stock, down previously from $27.00. 12.4% downside from the previous close of $26.26. Tweet This.
  • ABB Ltd (NYSE:ABB) was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating. Previous closing price of $26.26. Tweet This.
  • AMEC plc (LON:AMEC) was downgraded by analysts at Liberum Capital to a “sell” rating. They now have a GBX 1,035 ($17.39) price target on the stock, down previously from GBX 1,120 ($18.82). Tweet This.
  • Antofagasta plc (ADR) (NASDAQ:ANFGY) was downgraded by analysts at HSBC from an “overweight” rating to a “neutral” rating. Previous closing price of $26.35. Tweet This.
  • Antofagasta plc (LON:ANTO) was downgraded by analysts at HSBC to a “neutral” rating. They now have a GBX 860 ($14.45) price target on the stock, down previously from GBX 990 ($16.63). Tweet This.
  • Airgas Inc. (NYSE:ARG) was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating. They now have a $110.00 price target on the stock, down previously from $120.00. 2.2% upside from the previous close of $107.66. Tweet This.
  • BHP Billiton plc (LON:BLT) was downgraded by analysts at HSBC to a “neutral” rating. They now have a GBX 2,010 ($33.77) price target on the stock, up previously from GBX 1,940 ($32.59). Tweet This.
  • Cbeyond, Inc. (NASDAQ:CBEY) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating. They now have a $10.00 price target on the stock, up previously from $8.00. 1.5% upside from the previous close of $9.85. Tweet This.
  • Coca-Cola Enterprises Inc (NYSE:CCE) was downgraded by analysts at Nomura from a “neutral” rating to a “reduce” rating. They now have a $41.00 price target on the stock, down previously from $44.50. 10.8% downside from the previous close of $45.97. Tweet This.
  • Capital Power Co. (TSE:CPX) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a C$25.50 price target on the stock, down previously from C$26.50. 2.7% upside from the previous close of $24.84. Tweet This.
  • CRH PLC (ADR) (NYSE:CRH) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating. Previous closing price of $28.73. Tweet This.
  • CRH PLC (UK) (LON:CRH) was downgraded by analysts at Jefferies Group to a “hold” rating. They now have a GBX 1,700 ($28.56) price target on the stock. Tweet This.
  • Cenovus Energy Inc (TSE:CVE) was downgraded by analysts at Global Hunter Securities from a “buy” rating to a “neutral” rating. Tweet This.
  • Cenovus Energy Inc (NYSE:CVE) was downgraded by analysts at Global Hunter Securities from a “buy” rating to a “neutral” rating. They now have a $36.00 price target on the stock, down previously from $40.00. 21.9% upside from the previous close of $29.54. Tweet This.
  • EQT Midstream Partners LP (NYSE:EQM) was downgraded by analysts at Ladenburg Thalmann from a “buy” rating to a “neutral” rating. They now have a $74.00 price target on the stock, up previously from $70.00. They noted that the move was a valuation call. 2.4% downside from the previous close of $75.80. Tweet This.
  • Gluskin Sheff + Associates Inc. (TSE:GS) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating. They now have a C$32.50 price target on the stock, up previously from C$31.75. 3.4% downside from the previous close of $33.63. Tweet This.
  • Hess Corp. (NYSE:HES) was downgraded by analysts at Global Hunter Securities from an “accumulate” rating to a “neutral” rating. They now have a $85.00 price target on the stock. 2.6% downside from the previous close of $87.23. Tweet This.
  • Intevac Inc. (NASDAQ:IVAC) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating. Previous closing price of $8.32. Tweet This.
  • McAleese Ltd (ASX:MCS) was downgraded by analysts at Deutsche Bank to a “buy” rating. They now have a $1.10 price target on the stock. Tweet This.
  • Meru Networks (NASDAQ:MERU) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating. Previous closing price of $4.40. Tweet This.
  • Norsk Hydro ASA (NASDAQ:NHYDY) was downgraded by analysts at HSBC from a “neutral” rating to an “underweight” rating. Previous closing price of $5.20. Tweet This.
  • OncoGenex Pharmaceuticals Inc. (NASDAQ:OGXI) was downgraded by analysts at UBS AG from an “outperform” rating to a “market perform” rating. They now have a $4.50 price target on the stock, down previously from $19.00. 16.9% upside from the previous close of $3.85. Tweet This.
  • OncoGenex Pharmaceuticals Inc. (NASDAQ:OGXI) was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating. They now have a $4.50 price target on the stock, down previously from $19.00. 16.9% upside from the previous close of $3.85. Tweet This.
  • Rudolph Technologies Inc. (NASDAQ:RTEC) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $16.00 price target on the stock. 46.3% upside from the previous close of $10.94. Tweet This.
  • Ryanair Holdings plc (NASDAQ:RYAAY) was downgraded by analysts at Kepler Capital Markets to a “hold” rating. Previous closing price of $54.06. Tweet This.
  • Semiconductor Manufacturing Int’l (NYSE:SMI) was downgraded by analysts at HSBC from an “overweight” rating to a “neutral” rating. Previous closing price of $4.12. Tweet This.
  • Serco Group plc (LON:SRP) was downgraded by analysts at Citigroup Inc. to a “neutral” rating. They now have a GBX 410 ($6.89) price target on the stock, down previously from GBX 610 ($10.25). Tweet This.
  • Stage Stores Inc. (NYSE:SSI) was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating. They now have a $27.00 price target on the stock. 35.5% upside from the previous close of $19.93. Tweet This.
  • Susser Holdings Co. (NASDAQ:SUSS) was downgraded by analysts at RBC Capital from an “outperform” rating to a “sector perform” rating. They now have a $80.25 price target on the stock, up previously from $77.00. 3.3% upside from the previous close of $77.72. Tweet This.
  • Suez Environnement C (NASDAQ:SZEVY) was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating. Previous closing price of $9.76. Tweet This.
  • Tyson Foods Inc. (NYSE:TSN) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $43.00 price target on the stock. They noted that the move was a valuation call. 1.1% upside from the previous close of $42.52. Tweet This.
  • United Community Banks Inc. (NASDAQ:UCBI) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating. Previous closing price of $16.83. Tweet This.
  • Ultra Clean Holdings Inc (NASDAQ:UCTT) was downgraded by analysts at Roth Capital from a “buy” rating to a “neutral” rating. Previous closing price of $11.81. Tweet This.
  • Get today’s most recent analysts’ downgrades at Analyst Ratings.net

Analysts’ New Coverage

  • Avino Silver & Gold Mines Ltd (NYSE:ASM) is now covered by analysts at Noble Financial. They set a “buy” rating and a $3.00 price target on the stock. 87.5% upside from the previous close of $1.60. Tweet This.
  • Athersys (NASDAQ:ATHX) is now covered by analysts at First Analysis. They set an “overweight” rating on the stock. Previous closing price of $1.33. Tweet This.
  • AudioCodes Ltd. (NASDAQ:AUDC) is now covered by analysts at William Blair. They set an “outperform” rating on the stock. Previous closing price of $6.36. Tweet This.
  • Avianca Holdings SA (ADR) (NYSE:AVH) is now covered by analysts at Sidoti. They set a “neutral” rating on the stock. Previous closing price of $16.75. Tweet This.
  • A V Homes Inc (NASDAQ:AVHI) is now covered by analysts at Sidoti. They set a “neutral” rating on the stock. Previous closing price of $17.25. Tweet This.
  • Carnival plc (LON:CCL) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a GBX 3,000 ($50.40) price target on the stock. Tweet This.
  • Carnival Corp. (NYSE:CCL) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $50.00 price target on the stock. 29.5% upside from the previous close of $38.62. Tweet This.
  • Carnival Corp. (NASDAQ:CCL.L) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $50.00 price target on the stock. Tweet This.
  • Colfax Corp (NYSE:CFX) is now covered by analysts at Deutsche Bank. They set a “hold” rating on the stock. Previous closing price of $70.38. Tweet This.
  • Chariot Oil & Gas Limited (LON:CHAR) is now covered by analysts at FinnCap. They set a “corporate” rating on the stock. Tweet This.
  • Meridian Interstate Bancorp Inc. (NASDAQ:EBSB) is now covered by analysts at Compass Point. They set a “neutral” rating and a $26.00 price target on the stock. 4.7% upside from the previous close of $24.84. Tweet This.
  • NASDAQ (NASDAQ:EQUAL) is now covered by analysts at Citigroup Inc.. They set a $40.00 price target on the stock. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at Barclays. They set an “overweight” rating and a $10.00 price target on the stock. 52.0% upside from the previous close of $6.58. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at Canaccord Genuity. They set a “buy” rating and a $9.00 price target on the stock. 36.8% upside from the previous close of $6.58. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $17.50 price target on the stock. 166.0% upside from the previous close of $6.58. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at Bank of America. They set a “buy” rating and a $10.00 price target on the stock. 52.0% upside from the previous close of $6.58. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at Pacific Crest. They set an “outperform” rating and a $10.00 price target on the stock. 52.0% upside from the previous close of $6.58. Tweet This.
  • Five9 Inc (NASDAQ:FIVN) is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $11.00 price target on the stock. 67.2% upside from the previous close of $6.58. Tweet This.
  • Gulf Marine Services PLC (LON:GMS) is now covered by analysts at Barclays. They set an “overweight” rating and a GBX 220 ($3.70) price target on the stock. Tweet This.
  • Gentex Co. (NASDAQ:GNTX) is now covered by analysts at Pacific Crest. They set a “sector perform” rating on the stock. Previous closing price of $28.83. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at Canaccord Genuity. They set a “buy” rating and a $40.00 price target on the stock. 22.5% upside from the previous close of $32.64. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $40.00 price target on the stock. 22.5% upside from the previous close of $32.64. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $40.00 price target on the stock. 22.5% upside from the previous close of $32.64. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $32.00 price target on the stock. 2.0% downside from the previous close of $32.64. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at Raymond James. They set an “outperform” rating and a $36.00 price target on the stock. 10.3% upside from the previous close of $32.64. Tweet This.
  • GrubHub Inc (NASDAQ:GRUB) is now covered by analysts at William Blair. They set an “outperform” rating on the stock. Previous closing price of $32.64. Tweet This.
  • Harman International Industries Inc./DE/ (NYSE:HAR) is now covered by analysts at Pacific Crest. They set an “outperform” rating and a $139.00 price target on the stock. 31.6% upside from the previous close of $105.66. Tweet This.
  • HCI Group Inc (NYSE:HCI) is now covered by analysts at Sterne Agee. They set a “buy” rating and a $46.00 price target on the stock. 24.2% upside from the previous close of $37.05. Tweet This.
  • Incyte Co. (NASDAQ:INCY) is now covered by analysts at Leerink Swann. They set an “outperform” rating and a $76.00 price target on the stock. 68.6% upside from the previous close of $45.08. Tweet This.
  • The Coca-Cola Company (NYSE:KO) is now covered by analysts at Nomura. They set a “buy” rating and a $53.50 price target on the stock. They noted that the move was a valuation call. 30.4% upside from the previous close of $41.03. Tweet This.
  • MAG Silver Corp (NYSE:MVG) is now covered by analysts at Desjardins. They set a “speculative buy” rating and a C$10.00 price target on the stock. 35.5% upside from the previous close of $7.38. Tweet This.
  • Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $40.00 price target on the stock. 26.3% upside from the previous close of $31.67. Tweet This.
  • Natural Grocers by Vitamin Cottage Inc. (NASDAQ:NGVC) is now covered by analysts at Oppenheimer. They set a “market perform” rating and a $38.00 price target on the stock. 4.2% upside from the previous close of $36.48. Tweet This.
  • National-Oilwell Varco, Inc. (NYSE:NOV) is now covered by analysts at Global Hunter Securities. They set a “neutral” rating and a $80.00 price target on the stock. 3.5% upside from the previous close of $77.31. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Pacific Crest. They set an “outperform” rating on the stock. Previous closing price of $20.43. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Morgan Stanley. They set an “equal weight” rating on the stock. Previous closing price of $20.43. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Robert W. Baird. They set a “neutral” rating and a $22.00 price target on the stock. 7.7% upside from the previous close of $20.43. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Canaccord Genuity. They set a “buy” rating and a $25.00 price target on the stock. 22.4% upside from the previous close of $20.43. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Goldman Sachs. They set a “buy” rating and a $30.00 price target on the stock. 46.8% upside from the previous close of $20.43. Tweet This.
  • NASDAQ (NASDAQ:OPWR) is now covered by analysts at Cowen and Company. They set an “outperform” rating on the stock. Previous closing price of $20.43. Tweet This.
  • Ovascience (NASDAQ:OVAS) is now covered by analysts at Oppenheimer. They set an “outperform” rating and a $11.00 price target on the stock. 37.5% upside from the previous close of $8.00. Tweet This.
  • OXiGENE (NASDAQ:OXGN) is now covered by analysts at HC Wainwright. They set a “buy” rating and a $7.50 price target on the stock. 151.7% upside from the previous close of $2.98. Tweet This.
  • Plaza Retail Reit (TSE:PLZ.UN) is now covered by analysts at CIBC. They set an “outperform” rating and a C$4.50 price target on the stock. Tweet This.
  • Royal Caribbean Cruises Ltd. (NYSE:RCL) is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $60.00 price target on the stock. 16.9% upside from the previous close of $51.31. Tweet This.
  • Restore PLC (LON:RST) is now covered by analysts at N+1 Singer. They set a “buy” rating and a GBX 220 ($3.70) price target on the stock. Tweet This.
  • The Sage Group plc (LON:SGE) is now covered by analysts at Westhouse Securities. They set an “add” rating and a GBX 467 ($7.85) price target on the stock. Tweet This.
  • Sonus Networks Inc. (NASDAQ:SONS) is now covered by analysts at William Blair. They set an “outperform” rating on the stock. Previous closing price of $2.90. Tweet This.
  • TeraGo Inc. (TSE:TGO) is now covered by analysts at National Bank Financial. They set an “outperform” rating and a C$6.50 price target on the stock. 32.7% upside from the previous close of $4.90. Tweet This.
  • TeraGo Inc. (TSE:TGO) is now covered by analysts at NBF. They set an “outperform” rating and a C$6.50 price target on the stock. 32.7% upside from the previous close of $4.90. Tweet This.
  • TPG Specialty Lending Inc (NASDAQ:TSLX) is now covered by analysts at JMP Securities. They set a “market perform” rating on the stock. Previous closing price of $18.43. Tweet This.
  • NASDAQ (NASDAQ:TYPEOF) is now covered by analysts at UBS AG. They set a “buy” rating on the stock. Tweet This.
  • CVR Partners (NYSE:UAN) is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $21.00 price target on the stock. 0.3% downside from the previous close of $21.06. Tweet This.
  • Get today’s most recent analysts’ new coverage at Analyst Ratings.net

Minyanville Daily Recap 29/04/2014

It was a slow day for US markets as investors waited on making any big changes before tomorrow’s advance estimate of US first-quarter GDP and the conclusion of the FOMC’s monetary policy meeting. Tensions continued in Ukraine as the defense spokesman for the US said the Pentagon was thinking about increasing its military exercises in the Baltics.

The S&P 500 opened the day up a few points and, after a quick plunge in the opening minutes, finished near its highs of the day. Japanese markets were closed last night. Financials, materials, and tech stocks were the best performers today, while utilities lagged. Bank of America (BAC) regained almost 2% in today’s session after it lost more than 6% yesterday following its restatement of its capital ratios and suspension of its dividend and buyback program. Its refiled plan with the Federal Reserve would likely push for the dividend increase but abandon its buyback program.

Apple (AAPL) sold $12 billion of debt in a seven-part offering. The order book for the deal was said to be in excess of $40 billion. The new debt will be used to fund the company’s $30 billion expansion in its stock buyback plan and 8% increase in its quarterly dividend.

German engineering and manufacturing company Siemens AG (SIE) announced that it would make a bid for Alstom SA’s (ALO) assets if it was given the proper time to perform due diligence on the company’s books and management. General Electric (GE) has already submitted a binding offer over the weekend, which Alstom prefers at present, but the French government has urged the company to entertain both offers. It was also reported that Siemens was exploring the purchase of Rolls-Royce’s energy assets.

Twitter (TWTR) reported earnings after the close, beating on EPS, revenues, and raising guidance for the full year and coming quarter. However, the subscriber growth did not beat analyst expectations strongly enough and the stock sold off in excess of 8% in extended trading.

There are three significant events tomorrow that will drive what is likely to be a volatile day: the advance estimate of first-quarter US GDP, the ADP private payrolls report, and the policy statement from the FOMC. US GDP is expected to rise at a quarterly annualized rate of 1.2% in the first quarter, down from its 2.6% rate in the quarter prior. For April, private payrolls are expected to rise 210,000 after gaining 191,000 last month. And lastly, the Fed is expected to further reduce its monthly asset purchases by $10 billion to $45 billion and leave the language of its statement unchanged.

The regional Chicago purchasing manager index is also scheduled to be reported.

It will be equally busy in the rest of the world. Preliminary March Japanese industrial production is scheduled to be reported in addition to the advance manufacturing survey for April. Germany’s retail sales report for March and employment change for April is also scheduled to be reported. Finally, and most importantly, the April eurozone consumer price index will be reported at 4:00 a.m. EDT. Today’s German HICP inflation only rose 1.1% year-on-year, below the 1.3% expectations, which foreshadows a broader report that’s below expectations. Eurozone CPI is expected to rise to a year-on-year rate of 0.8% from 0.5% last month.

Fifty-four major US companies are scheduled to report earnings tomorrow. Notable reports include Hess (HES), International Paper (IP), Yelp (YELP), Tesoro (TSO), Western Digital (WDC), and MetLife (MET).

Avoid Making Sector Assumptions by Dividend.com

Avoid Making Sector Assumptions

According to data provided by the World Federation of Exchanges, there are over 5,000 U.S.-listed publicly traded companies. Even though some analysts and market commentators have recently pointed out the slowdown in the growth of the supply of stocks, individual investors still have plenty to choose from.

To narrow down our scope, most of us set up a “screen” for ourselves, to help ease the enormous task of sifting through the equity space. Sometimes our filters are based on performance, size, and yield, while other times we like to focus on a particular corner of the market, such as a specific industry or sector.

Variation Exists Everywhere

When it comes to establishing a tactical tilt towards a certain sector, investors are often too quick to assume consistency across companies within that sector. Even within utilities, which are known for providing high yields and steady price action, there is a wide range of companies offering vastly different yields and historical performances. Diversified utility companies, for example, yield on average over 4.0%, while gas utilities yield below 3.0%. A look even closer at these subsectors and you can find individual securities that stand out from their peers; Northwest Natural Gas (NWN), a gas-utility company, yields over 4%, which is much higher than the average gas utility.

Recently, we wrote a piece on restaurant dividend stocks, a relatively small sub-sector. Within this sub-sector, we have one company that trumps the rest in terms of size and dividend growth: McDonald’s (MCD). From a yield perspective, however, there are two companies that offer significantly higher yields than MCD. One of the most stark differences between these companies is their performance over the years.

Some investors might assume that because restaurants are such a hyper-targeted sector, that they likely behave similarly during both market upturns and downturns. Let’s look at just 2013, a year where nearly every corner of the market benefited from bullish momentum. Last year, only two restaurants managed to log in double digit returns, nine companies posted positive gains, and eight stocks ended in the red.

Utilities and restaurants are, of course, just two examples of how companies within these sectors differ. As always, we encourage investors to take that extra step to carefully sift through the equity space, and, more importantly, to avoid making quick assumptions!

Stay current with all the latest news surrounding dividend stocks, including earnings reports, analyst moves, and much more on The Dividend Daily.

Key Market Reports and Commentary for Tuesday 29/04/2014

Morning Markets Report
Prepared on Tuesday, April 29, 2014

Copyright 2014 INO.com. All Rights Reserved.

Summary
The Dow Future is trending higher 49 points to 16446. The US Dollar Index moved down 0.031 points to 79.671. Gold is lower 4.890 dollars to 1290.460. Silver is lower 0.16965 dollars to 19.37435. The Dow Industrials rose 87.28 points, at 16448.74, while the S&P 500 rose 6.03 points, last seen at 1869.43. The Nasdaq Composite declined 1.85 points to 4073.71. Streaming charts of these markets are available 24/7 at MarketClub

Blog Postings and Videos
Beware of Equity Markets Going Nowhere Fast
Monday Apr 28thChart of The Week – Corn
Monday Apr 28th

Are You Prepared For The ‘Follow-Up’ Crash?
Monday Apr 28th

Key Events for Tuesday

7:45 AM ET. ICSC-Goldman Sachs Chain Store Sales Index

Chain Store Sales Index – WoW (previous +0.4%)

Chain Store Sales Index – YoY (previous +1.9%)

8:55 AM ET. Johnson Redbook Retail Sales Index

MoM % Change (previous -0.5%)

12MonChgPct (previous +3.2%)

52WkChgPct (previous +3.7%)

9:00 AM ET. Feb S&P / Case-Shiller Home Price Index

10-city Index, M/M (previous +0%)

10-city Index, Y/Y (previous +13.5%)

20-city Index, M/M (previous -0.1%)

20-city Index, Y/Y (previous +13.2%)

National Q/Q

National Y/Y

10:00 AM ET. 1st Quarter U.S. Housing Vacancies

10:00 AM ET. March Metropolitan Area Employment & Unemployment

10:00 AM ET. U.S. Treasury Sec Lew testifies to House Appropriations Committee on budget

10:00 AM ET. April Consumer Confidence Index

Consumer Confidence Index (previous 82.3)

Expectation Index (previous 83.5)

Present Situation Index (previous 80.4)

4:30 PM ET. API Weekly Statistical Bulletin

Crude Stocks (Net Change) (previous +0.52M)

Gasoline Stocks (Net Change) (previous -3.4M)

Distillate Stocks (Net Change) (previous +0.57M)

Refinery Runs (previous 89.8%)

N/A ICBA Washington Policy Summit

N/A U.S. Federal Open Market Committee

7:00 AM ET. MBA Weekly Mortgage Applications Survey

Market Composite Index (previous 354)

Market Composite Index Cur Chg (previous -3.3%)

Purchase Index (S.A.) (previous 178)

Purchase Index (S.A.) Cur Chg (previous -2.6%)

Refinance Index (previous 1361.4)

Refinance Index Cur Chg (previous -3.7%)

8:15 AM ET. April ADP National Employment Report

Private Payrolls Forecast (previous +191000)

8:30 AM ET. 1st Quarter Employment Cost Index

ECI Qtlry (previous +0.5%)

ECI Yearly (previous +2%)

8:30 AM ET. 1st Quarter Advance estimate GDP

GDP (previous +2.6%)

Chain-Weighted Price Index (previous +1.6%)

PCE Price index (previous +1.1%)

Purchase Price Index (previous +1.5%)

Real Final Sales (previous +2.7%)

Core PCE Price index (Ex Food/Energy) (previous +1.3%)

Personal Consumption (previous +3.3%)

9:45 AM ET. April ISM-Chicago Business Survey – Chicago PMI

Employment Index (previous 50)

New Orders Index (previous 58.8)

Prices Paid Index (previous 55.7)

Purchasing Managers Index (Adjusted) (previous 55.9)

Supplier Deliveries Index (previous 58.6)

10:00 AM ET. April Online Help Wanted Index

10:30 AM ET. EIA Weekly Petroleum Status Report

Crude Oil Stocks (previous 397.66M)

Crude Oil Stocks (Net Change) (previous +3.52M)

Gasoline Stocks (previous 210.01M)

Gasoline Stocks (Net Change) (previous -0.27M)

Distillate Stocks (previous 112.51M)

Distillate Stocks (Net Change) (previous +0.6M)

Refinery Usage (previous 91%)

Total Products Supplied (previous 18.05M)

Total Products Supplied (Net Change) (previous -0.36M)

1:00 PM ET. April Dow Jones Economic Sentiment Indicator

DJ Economic Sentiment Indicator (previous 51.7)

2:00 PM ET. U.S. interest rate decision

Federal Funds Rate

Federal Funds Rate Change (Pts)

Federal Funds Rate (Dir) (previous +0)

Discount Rate

Discount Rate Change

FOMC Vote For Action (previous 8)

FOMC Vote Against Action (previous 1)

High Range Value (Current Period)

Low Range Value

Federal Funds Rate Change High Range (previous 0.25)

Federal Funds Rate Change Low Range (previous 0)

3:00 PM ET. April Agricultural Prices

Farm Prices, M/M (previous

7:30 AM ET. April Challenger Job-Cut Report

Job Cuts, M/M (previous -18%)

8:30 AM ET. Unemployment Insurance Weekly Claims Report – Initial Claims

Weekly Jobless Claims (previous 329K)

Weekly Jobless Claims Net Change (previous +24K)

Cont Jobless Claims (prior week) (previous 2680000)

Cont Jobless Claims Net Chg (prior week) (previous -61K)

8:30 AM ET. U.S. Weekly Export Sales

Corn, In Metric Tons (previous 1436.7K)

Soybeans, In Metric Tons (previous 546.8K)

Wheat, In Metric Tons (previous 728K)

8:30 AM ET. March Personal Income & Outlays

Personal Income (previous +0.3%)

Personal Spending (previous +0.3%)

PCE Price Index Monthly (previous +0.1%)

PCE Price Index Yearly (previous +0.9%)

PCE Core Price Index Monthly +0.1%)

PCE Core Price Index Yearly +1.1%

9:00 AM ET. April US Manufacturing PMI

9:45 AM ET. Bloomberg Consumer Comfort Index

10:00 March Construction Spending – Construction Put in Place

New Construction (previous +0.1%)

Residential Construction

10:00 AM ET. April ISM Manufacturing Report on Business

Manufacturing PMI (previous 53.7)

Prices Index (previous 59)

Employment Index (previous 51.1)

Inventories (previous 52.5)

New Orders Index (previous 55.1)

Production Index (previous 55.9)

10:00 AM ET. DJ-BTMU U.S. Business Barometer

DJ-BTMU Business Barometer (previous -0.1%)

DJ-BTMU Business Barometer (52 Wk) (previous +0.4%)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

Total Working Gas in Storage (previous 899B)

Total Working Gas in Storage (Net Change) (previous +49B)

4:00 AM ET. April Domestic Auto Industry Sales

Annualized Vehicle Sales (previous 16.4M)

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Money Stock

8:30 AM ET. April U.S. Employment Report

Non-Farm Payrolls (previous +192K)

Unemployment Rate (previous 6.7%)

Average Hourly Earnings (previous 24.3)

Average Hourly Earnings Net Change (previous -0.01)

Manufacturing Payrolls (previous -1K)

Overall Workweek (previous 34.5)

Overall Workweek Net Change (previous +0.2)

Service Producing Payrolls (previous +167K)

Government Payrolls (previous +0)

Federal Payrolls (previous -9K)

Non-Farm Payrolls (Bench Net Chg)

Private Payroll (previous +192K)

9:45 AM ET. April ISM-NY Report on Business

US ISM-NY Business Index (previous 52)

10:00 AM ET. March Manufacturers’ Shipments, Inventories & Orders (M3)

Total Orders (previous +1.6%)

Orders, Ex-Defense (previous +1.3%)

Orders, Ex-Transportation (previous +0.7%)

Durable Goods 1st Est (previous +2.2%)

Durable Goods Revised


 

Currencies Snapshot
Symbol Last Change %
US DOLLAR INDEX 79.671 -0.031 -0.04%
POWERSHARES DB US DOLLAR INDEX 21.3200 -0.0200 -0.09%
US Dollar/Canadian Dollar 1.097355 -0.005045 -0.46%
Euro/US Dollar 1.386605 +0.000505 +0.04%
JAPANESE YEN Jun 2014 0.009738 -0.000028 -0.29%
SWISS FRANC Jun 2014 1.1365 -0.0005 -0.04%

CURRENCIES

The June Dollar was lower overnight. However, stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 79.96 are needed to confirm that a short-term low has been posted. If June renews this month’s decline, weekly support crossing at 78.91 is the next downside target. First resistance is the 20-day moving average crossing at 79.96. Second resistance is the 38% retracement level of the January-March-decline crossing at 80.24. First support is March’s low crossing at 79.37. Second support is weekly support crossing at 78.91.

The June Euro was slightly higher overnight while extending the trading range of the past three weeks. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 138.08 are needed to confirm that a short-term top has been posted. If June renews this month’s rally, March’s high crossing at 139.66 is the next upside target. First resistance is the reaction high crossing at 139.03. Second resistance is March’s high crossing at 139.66. First support is the 20-day moving average crossing at 138.08. Second support is the 62% retracement level of the February-March-rally crossing at 136.67.

The June British Pound was slightly lower overnight. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.6731 would confirm that a short-term top has been posted. If June extends the rally off March’s low, monthly resistance crossing at 1.7043 is the next upside target. First resistance is Monday’s high crossing at 1.6849. Second resistance is monthly resistance crossing at 1.7043. First support is the 20-day moving average crossing at 1.6731. Second support is the reaction low crossing at 1.6640.

The June Swiss Franc was slightly lower overnight as it consolidates some of the rally off last week’s low. Stochastics and the RSI are turning neutral to bearish hinting that a setback is possible near-term. If June renews the decline off April’s high, the 50% retracement level of the January-March-rally crossing at 1.1226 is the next downside target. If June extends the rally off last week’s low, April’s high crossing at 1.1443 is the next upside target. First resistance is April’s high crossing at 1.1443. Second resistance is March’s high crossing at 1.1503. First support is the 38% retracement level of the January-March-rally crossing at 1.1292. Second support is the 50% retracement level of the January-March-rally crossing at 1.1226.

The June Canadian Dollar was higher overnight and trading above the 20-day moving average. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 90.85 would confirm that a short-term low has been posted. If June extends the decline off April’s high, March’s low crossing at 88.45 is the next downside target. First resistance is April’s high crossing at 91.95. Second resistance is the 38% retracement level of the 2013-2014-decline crossing at 92.96. First support is last Wednesday’s low crossing at 90.35. Second support is March’s low crossing at 88.45.

The June Japanese Yen was lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, April’s low crossing at .9598 is the next downside target. If June renews the rally off April’s low, March’s high crossing at .9889 is the next upside target.From a broad perspective, June needs to close above .9930 or below .9598 to confirm a breakout of a three-month old trading range. First resistance is March’s high crossing at .9889. Second resistance is February’s high crossing at .9930. First support is last Tuesday’s low crossing at .9737. Second support is April’s low crossing at .9598.


 

Energy Snapshot
Symbol Last Change %
CRUDE OIL Jun 2014 101.47 +0.63 +0.62%
NY HARBOR ULSD HEATING OIL Jun 2014 2.9593 +0.0148 +0.50%
NATURAL GAS Jun 2014 4.798 -0.001 -0.02%
RBOB GASOLINE Jun 2014 2.9963 +0.0099 +0.33%
POWERSHARES DWA ENERGY MOMENT 59.6857 +0.0757 +0.13%
UNITED STATES GASOLINE 61.1600 -0.4700 -0.77%

ENERGIES

June Nymex crude oil was higher due to short covering overnight as it consolidates some of the decline off April’s high but remains below the 20-day moving average. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April’s high, the 38% retracement level of the January-April-rally crossing at 99.10 is the next downside target. Closes above the 10-day moving average crossing at 102.09 would confirm that a short-term low has been posted. First resistance is April’s high crossing at 104.10. Second resistance is weekly resistance crossing at 107.49. First support is the 38% retracement level of the January-April-rally crossing at 99.10. Second support is the 50% retracement level of the January-April-rally crossing at 97.54.

June heating oil was higher due to short covering overnight as it consolidates some of Monday’s decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If June extends Monday’s decline, the reaction low crossing at 292.00 is the next downside target. Closes above the 10-day moving average crossing at 298.49 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 298.49. Second resistance is the 87% retracement level of the March-April-decline crossing at 302.19. Third resistance is March’s high crossing at 304.80. First support is Monday’s low crossing at 293.50. Second support is the reaction low crossing at 292.00.

June unleaded gas was higher due to short covering overnight as it consolidated some of Monday’s decline. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 297.54 would confirm that a short-term top has been posted. If June renews the rally off April’s low, weekly resistance crossing at 310.95 is the next upside target. First resistance is last Thursday’s high crossing at 306.10. Second resistance is weekly resistance crossing at 310.95. First support is the 20-day moving average crossing at 297.54. Second support is the 38% retracement level of the January-April-rally crossing at 294.74.

June Henry natural gas was slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month’s rally, February’s high crossing at 4.893 is the next upside target. Closes below the 20-day moving average crossing at 4.613 would confirm that a short-term top has been posted. First resistance is last Thursday’s high crossing at 4.818. Second resistance is February’s high crossing at 4.893. First support is the 20-day moving average crossing at 4.613. Second support is the reaction low crossing at 4.500.


 

Food Snapshot
Symbol Last Change %
COCOA Jul 2014 2954 +8 +0.27%
COFFEE Jul 2014 202.85 +1.70 +0.85%
ORANGE JUICE-A Jul 2014 163.45 -1.50 -0.92%
IPATH DJ-UBS SUGAR TRUST 55.8810 -0.8710 -1.56%
IPATH DJ-UBS SOFTS TRUST 55.82 -0.02 -0.04%

FOOD & FIBER

May coffee closed lower due to profit taking on Monday. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 19.51 would confirm that a short-term top has been posted. If May extends this month’s rally, the 75% retracement level of the 2011-2013-decline crossing at 23.20 is the next upside target.

May cocoa closed lower on Monday. The low-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off March’s high, the reaction low crossing at 28.86 is the next downside target. Closes above the 10-day moving average crossing at 297.10 would confirm that a low has been posted.

May sugar closed lower on Monday. The low-range close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. Closes below the 10-day moving average crossing at 16.92 would temper the near-term friendly outlook. If May renews the rally off April’s low, the reaction high crossing at 18.10 is the next upside target.

May cotton closed lower on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends last week’s rally, the reaction high crossing at 94.80 is the next upside target. Closes below the 20-day moving average crossing at 91.25 would temper the near-term friendly outlook.


 

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Grains Snapshot
Symbol Last Change %
CORN Jul 2014 517.50 +3.75 +0.73%
OATS Jul 2014 362.75 +0.25 +0.07%
WHEAT Jul 2014 705.25 -3.25 -0.46%
TEUCRIUM CORN 34.9500 +0.1100 +0.31%
IPATH DJ-UBS GRAINS TRUST 51.55 +0.15 +0.29%
ELEMENTS MLCX GRAINS INDEX TRUST 6.77 +0.05 +0.74%
SOYBEANS Jul 2014 1501.0 +1.0 +0.07%
SOYBEAN (MINI) Nov 2014 1239.250 -0.500 -0.04%
SOYBEAN MEAL Jul 2014 485.3 +0.5 +0.10%
TEUCRIUM SOYBEAN 26.08 +0.31 +1.20%

GRAINS

May corn was higher overnight as it extends the rally off last Monday’s low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off last week’s low, April’s high crossing at 5.19 is the next upside target. Closes below the 20-day moving average crossing at 5.01 1/4 would confirm that a short-term top has been posted. If May renews the decline off April’s high, the 38% retracement level of the January-April-rally crossing at 4.79 is the next downside target. First resistance is the overnight high crossing at 5.13 3/4. Second resistance is April’s high crossing at 5.19. First support is last Monday’s low crossing at 4.85 1/2. Second support is the 38% retracement level of the January-April-rally crossing at 4.79.

May wheat was lower overnight as it consolidates some of the rally off last week’s low. The low-range close sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the aforementioned rally, March’s high crossing at 7.23 1/2 is the next upside target. Closes below the 20-day moving average crossing at 6.80 1/2 would temper the bearish outlook. First resistance is the reaction high crossing at 7.11. Second resistance is March’s high crossing at 7.23 1/2. First support is the 38% retracement level of this year’s rally crossing at 6.58 3/4. Second support is the 50% retracement level of this year’s rally crossing at 6.38 1/2.

May Kansas City Wheat closed up 7 1/2-cents at 7.83 1/4.

May Kansas City wheat closed higher on Monday. Today’s high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this month’s rally, March’s high crossing at 7.94 1/2 is the next upside target. Closes below the 20-day moving average crossing at 7.47 1/2 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 7.83 1/4. Second resistance is March’s high crossing at 7.94 1/2. First support is the 20-day moving average crossing at 7.47 1/2. Second support is the reaction low crossing at 7.19.

May Minneapolis wheat was lower overnight as it consolidates some of this month’s rally. The low-range close sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are overbought but remain neutral to bullish signaling that a low might be in or is near. If May extends this month’s rally, March’s high crossing at 7.70 is the next upside target. Closes below the 20-day moving average crossing at 7.26 1/4 would confirm that a short-term top has been posted. First resistance is Monday’s high crossing at 7.55. Second resistance is March’s high crossing at 7.70. First support is the 38% retracement level of this year’s rally crossing at 7.03 1/4. Second support is the 50% retracement level of this year’s rally crossing at 6.82 1/2.

SOYBEAN COMPLEX http://quotes.ino.com/ex changes/?c=grains

May soybeans were higher overnight as it extends the rally off last Friday’s low. The high-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that additional strength is possible near-term. If May renews this year’s rally, weekly resistance crossing at 15.61 is the next upside target. Closes below the reaction low crossing at 14.64 would confirm that a short-term top has been posted. First resistance is April’s high crossing at 15.31 3/4. Second resistance is weekly resistance crossing at 15.61. First support is the reaction low crossing at 14.64. Second support is the 38% retracement level of this year’s rally crossing at 14.23.

May soybean meal was slightly higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends this year’s rally, weekly resistance crossing at 505.90 is the next upside target. Closes below the reaction low crossing at 477.00 would confirm that a short-term top has been posted. First resistance is Monday’s high crossing at 501.20. Second resistance is weekly resistance crossing at 505.90. First support is the reaction low crossing at 477.00. Second support is the reaction low crossing at 472.00.

May soybean oil was slightly higher overnight. The mid-range close sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 42.39 would confirm that a short-term top has been posted. If May renews this month’s rally, March’s high crossing at 45.05 is the next upside target. First resistance is the reaction high crossing at 43.74. Second resistance is March’s high crossing at 45.05. First support is the 20-day moving average crossing at 42.39. Second support is the reaction low crossing at 41.11.


 

Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 16448.74 +87.28 +0.53%
NASDAQ COMPOSITE INDEX (COMBINED) 4073.71 -1.85 -0.05%
S&P 500 CASH 1869.43 +6.03 +0.32%
SPDR S&P 500 186.92 +0.63 +0.34%
QQQQ VOLATILITY INDEX 12.04 -1.21 -10.07%
iShares RUSSELL 2000 INDEX 110.87 -0.74 -0.67%

U.S. STOCK INDEXES

The June NASDAQ 100 was higher overnight as it extended Monday’s rebound. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April’s low, April’s high crossing at 3669.00 is the next upside target. Closes below the 10-day moving average crossing at 3542.20 would confirm that a short-term top has been posted. First resistance is April’s high crossing at 3669.00. Second resistance is March’s high crossing at 3733.25. First support is the 10-day moving average crossing at 3542.20. Second support is April’s low crossing at 3404.75.

The June S&P 500 was higher overnight. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April’s low, April’s high crossing at 1892.00 is the next upside target. Closes below the 20-day moving average crossing at 1857.39 would confirm that a short-term top has been posted. First resistance is last Thursday’s high crossing at 1882.30. Second resistance is April’s high crossing at 1892.00. First support is the 20-day moving average crossing at 1857.39. Second support is the 50% retracement level of the February-April-rally crossing at 1809.03.


 

Interest Snapshot
Symbol Last Change %
T-BONDS Jun 2014 134.06250 -0.65625 -0.49%
iShares FLOATING RATE NOTE 50.732 -0.018 -0.04%
5 YEAR T-NOTES Jun 2014 119.078125 -0.148438 -0.12%
ULTRA T-BONDS Jun 2014 146.03125 -1.12500 -0.77%
POWERSHARES SENIOR LOAN PORTF 24.69 +0.04 +0.16%

INTEREST RATES

June T-bonds were lower overnight as it consolidates some of last week’s rally. Stochastics and the RSI are diverging and are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 133-31 are needed to confirm that a short-term top has been posted. If June renews this year’s rally, weekly resistance crossing at 135-24 is the next upside target. First resistance is April’s high crossing at 135-10. Second resistance is weekly resistance crossing at 135-24. First support is the 20-day moving average crossing at 133-31. Second support is April’s low crossing at 131-21.


 

Livestock Snapshot
Symbol Last Change %
FEEDER CATTLE Aug 2014 186.350 +0.250 +0.13%
LEAN HOGS Jun 2014 124.750 +0.525 +0.42%
LIVE CATTLE Jun 2014 137.050 +0.225 +0.16%
IPATH DJ-UBS LIVESTOCK TRUST SUB 31.4504 -0.0696 -0.22%

LIVESTOCK

June hogs closed down $0.30 at $124.22.

June hogs closed lower on Monday as it consolidated some of its recent gains. The mid-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 123.40 would confirm that a short-term top has been posted. If June extends the rally off April’s low, the reaction high crossing at 130.60 is the next upside target. First resistance is the reaction high crossing at 130.60. Second resistance is March’s high crossing at 133.40. First support is the reaction low crossing at 118.55. Second support is the 38% retracement level of the 2012-2014-rally crossing at 115.98.

June cattle closed up $0.05 at 135.82.

June cattle closed higher on Monday as it extends the rally off this month’s low. The mid-range close sets the stage for a steady to higher opening when Tuesday’s session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, March’s high crossing at 139.00 is the next upside target. First resistance is today’s high crossing at 137.55. Second resistance is March’s high crossing at 139.00. First support is the 38% retracement level of the November-March-rally crossing at 134.24. Second support is the 50% retracement level of the November-March-rally crossing at 132.75.

May feeder cattle closed up $1.10 at $181.10.

May Feeder cattle closed higher on Monday and posted a new contract high. Today’s high-range close sets the stage for a steady to higher opening when Tuesday’s night session begins trading. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If May extends this year’s rally into uncharted territory, upside targets will be hard to project. Closes below last Monday’s low crossing at 177.50 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 181.50. Second resistance is unknown. First support is last Monday’s low crossing at 177.50. Second support is the reaction low crossing at 176.62.


 

Metals Snapshot
Symbol Last Change %
GOLD Jun 2014 1289.6 -9.4 -0.73%
SPDR GOLD SHARES 124.89 -0.54 -0.43%
SILVER Jul 2014 19.360 -0.259 -1.32%
PALLADIUM Jun 2014 797.60 -3.10 -0.39%
DIREXION DAILY GOLD MINERS BEA 23.8900 +1.2500 +5.23%
POWERSHARES DB PRECIOUS METALS 41.6640 -0.1300 -0.31%

PRECIOUS METALS

June gold was lower overnight as it consolidates some of the rally off last Thursday’s low. Stochastics and the RSI are turning neutral hinting that sideways to lower prices are possible near-term. If June renews the decline off April’s high, the 62% retracement level of the January-March-rally crossing at 1265.10 is the next downside target. If June extends the rally off last week’s low, April’s high crossing at 1331.40 is the next upside target. First resistance is April’s high crossing at 1331.40. Second resistance is the reaction high crossing at 1343.20. First support is the 62% retracement level of the January-March-rally crossing at 1265.10. Second support is the 75% retracement level of the January-March-rally crossing at 1237.80.

May silver was lower overnight. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If May extends the decline off February’s high, January’s low crossing at 18.800 is the next downside target. Multiple closes above the 20-day moving average crossing at 19.723 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 19.723. Second resistance is April’s high crossing at 20.400. First support is last Thursday’s low crossing at 18.930. Second support is January’s low crossing at 18.800.

May copper was slightly lower overnight as it consolidates some of the rally off March’s low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March’s low, the 50% retracement level of the December-March crossing at 314.55 is the next upside target. Closes below the 20-day moving average crossing at 305.32 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the December-March-decline crossing at 314.55. Second resistance is the 62% retracement level of the December-March-decline crossing at 320.90. First support it the 20-day moving average crossing at 305.32. Second support is the reaction low crossing at 296.55.


 

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