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Buzz Bits: Dow Climbs High, Nasdaq in the Green


Your daily Buzz highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • Amgen (AMGN) reports 3Q adjusted EPS of $1.04 vs. $0.98 cons on revs of $3.61 bln vs. $3.62 cons.
  • Netflix (NFLX) reports 3Q EPS of $0.21 vs. $0.15 cons on revs of $256.0 mln vs. $250.6 mln cons.
  • Kraft (KFT) reports 3Q EPS of $0.46 bln. $0.45 cons on revs of $8.24 bln vs. $8.26 bln cons.
  • Texas Instruments (TXN) reports 3Q EPS in-line of $0.45 on revs of $3.76 bln vs. $3.80 bln cons.
  • First Data (FDC) reports 3Q EPS of $0.29 continuing operations on revs of $1.80 bln vs. $1.79 bln cons.
  • Western Union (WU) reports 3Q EPS of $0.34 vs. $0.28 cons on revs of $1.14 bln vs. $1.13 bln.

It's all part of the plan - Kevin Depew - 2:10 PM
  • The case for technology? Merrill's David Rosenberg laid out five constructive things for technology going forward. Among them:
    - Tech spending is noticeably picking up.
    - Over the past three months, total computers and electronics orders are up at a 30% annual rate led by telecom.
    - Capacity utilization rates are improving.
    - 51% of tech sales are derived from outside the U.S.
    - About 30% of tech companies have reported 3Q earnings so far and 70% have beaten estimates, with only 95 missing.
  • A couple of DeMark TD-Sequential signals of note late last week: Coca-Cola (KO) gave a TD-Sequential sell signal and its evil chart twin Hershey's (HSY) registered a buy signal. And Yahoo (YHOO) confirmed the weekly TD-Sequential buy signal we noted as a possibility last week.
  • Macke's Smith & Wesson (SWHC) post about how guns "cause" 82 deaths per day surprised me too. I would have thought that as a country we were much better shots than that.
  • Accidentally stumbled across a location shoot for the new movie "I Am Legend" starring Will Smith last week, a remake of the "The Omega Man" which starred Charlton Heston.
  • The movie is about the lone survivor of an apocalyptic war waged with biological weapons. The war killed everyone on the planet except for a few hundred deformed members of a cult called "The Family" who believe science and technology caused the war. The Family fights Heston's character in an attempt to destory all modern machinery and tools.
  • Given the current socionomic conditions and social mood, I was wondering when they were going to get around to remaking that movie.

Counter-Trend Tuesday? - Jason Roney - 1:52 PM

Let's imagine some scenarios and run some analogs for Tuesday.

What if...

(1) On the Monday after expiration, SP futures open lower, close higher, and the close is at least a 20-day high (would need to close above 1380.20)?
- The SP opens lower on Tuesday 10 of 10 and closes lower 8 of 10.

(2) It is Tuesday and the SP futures have had 4 higher lows, 4 higher closes, and Monday's close wast at least a 20 day high close?
- The SP opened lower Tuesday 65% of the time, traded negative 100% of the time, and closed lower 69% of the time.

(3) The SP futures close up 4 days in a row and it's the day before the FOMC meeting?
- There were 11 occurrences and the closing bias was mixed but the open was lower 81% of the time.

Missing the Wal-Mart Party - Jeff Macke - 11:06 AM

Greetings from Saddle River; decidedly over a river and through some woods from your grandmother's retailer, Wal-Mart (WMT) and the company's 2-day analyst meeting in NYC. The stock is rocking, meaning I shouldn't bother knocking, but I can't help but wonder how the headlines I'm seeing (1% SSS for October and a capital spending cut) are driving WMT to 18 month highs.

For what it's worth, I think cutting capital spending is tantamount to conceding failure on the WMT fashion initiative. There's a good reason Abecrombie & Fitch (ANF) doesn't decorate in florescent lights and stained tile floors.

But, hey, I've emphatically missed the move in WMT so what do I know? Also ANF is up today as well so far be it from me to second guess anyone's price action. Just passing along the heads up before heading into the City. Whatever WMT is serving at its party, I'll take mine in a huge plastic tumbler... to go.

More CFTC odds and ends - Bennet Sedacca - 10:09 AM

Hedgers have been leaning hard against the market (and me unfortunately) lately in 10's. And they were modestly long the 30 year futures.

Well, two things happened this week. They cut their short exposure in 10's and increased their long exposure to 30's. Both bullish for the market.

A little back of the envelope duration analysis takes them from very bearish to slightly negative. I find this data to be bullish in nature and my firm will add more 10's (remember we have a 1/2 position that is long-term in nature) if we head towards 5%. With defined risk of course.

See the 10 year futures chart here.

See the 30 year futures chart here.

What you need to know... - Jon Doctor J Najarian - 8:06 AM

Tribune (TRB) Auction Heats Up! According to published reports this morning, at least three private equity groups are readying bids for TRB. In this corner: 1) Madison Dearborn Partners, Providence Equity Partners and Apollo Management, 2) Thomas H. Lee Partners and Texas Pacific Group and 3) Carlyle Group is also active in the process.

Delphi Buyout? Again, according to published reports, Ripplewood Holdings LLC is preparing a $10 billion bid for bankrupt auto parts maker Delphi. The effort is being led by Thomas Stallkamp, a partner at Ripplewood who formerly was president of Chrysler (DCX).

Halliburton (HAL) Earnings +25% - The world's No. 2 oilfield services company posted a 25% rise in earnings, handily beating Wall Street forecasts. The primary driver was strong spending by producers on oil and gas output, but many of us question whether that chapter is closing.

Wal-Mart (WMT) Cuts Baby Food Prices – WMT announced it will cut prices on 10 varieties of Gerber foods to 25 cents per jar, an astounding drop of 52% from the original retail price of 52 cents each. Wal-Mart is also hosting an analyst meeting today.

Positions in WMT, TRB

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