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Buzz Bits: Dow, Nasdaq Close in the Red


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

  • Amdocs (DOX) reports 4Q non-GAAP EPS of $0.50 vs. $0.49 on revs of $655.4 mln vs. $658.9 mln cons.
  • CVS reports 3Q EPS of $0.33 vs. $0.32 cons on revs of $11.21 bln which were reported on 10-10.
  • Prudential (PRU) reports 3Q adjusted EPS of $1.72 vs. $1.48 cons on revs of $6.11 bln vs. $6.18 bln cons.
  • Electronic Data Systems (EDS) reports 3Q adjusted EPS of $0.24 vs. $0.20 cons on revs of $5.29 bln vs. $5.32 bln cons.
  • Maxim Integrated (MXIM) reports 1Q EPS in-line of $0.33 on revs of $502.7 mln vs. $500.0 mln cons.
  • UnumProvident (UNM) reports 3Q EPS of $0.46 vs. $0.41 cons on revs of $2.66 bln vs. $2.68 bln cons.

Bell Buzz - Todd Harrison - 3:56 PM

  • Boo just walked into my office, kicked me in the shin and said "Here's to shorting charts you can't ski!" I told him that, now that we've 'cusped' a bit, he can try the short side and set stops above the previous highs.

  • Moi? I've got my bets on (long metals, short financials) and, as they're positioned through (cheap and cheaper) options, that's the bed I've made for myself.

  • I'm getting ready to hit the road, Jack, and I'm gonna be out-of-pocket through next week's Hump. Lots going on behind the critter scenes and while there was once a time when I couldn't tend to business like this, we've now built a community that will be seamless in my absence. Thank YOU for being part of that journey.

  • Speaking of the trip, I just bet President Fish a finski that if he gobbles warm nuts and drinks bloody mary mix on our first flight, he won't be able to fit his shoes on when we land. I'll letcha know how that works out.

  • And finally, Minyan D-Wayne from Idaho (Idaho? Udahoe!) asks "What are the odds that this seemingly manipulative "saving" of the market will immediately stop after the election?" My response? "My sense--which is purely nonsensical--is that alotta folks think the tape will have a bid through the elections. That's part of the reason I 'think' we top before then (or already have).

  • Fare ye well, my friends, and best of luck as you truck through the muck!


What if... - Jason Roney - 2:38 PM

Through October 31 this year the S&P 500 is up a little more than 10%. Kevin asked me this morning to run some numbers on what happens for the remainder of the year when the S&P 500 is up through the first 10 months.

Over the last 50 years this has happened 34 times. Of those 34, November is positive 64.7% of the time and December is positive 82.35% with the net of both positive 82.35% of the time.

When the S&P 500 has been up 10% through the first 10 months, like this year, then in those 20 occurrences the net positive bias for November has been 75%, December 75% and both combined 85%.

Of course November and December both have such a positive bias on their own, but this is certainly food for thought...

Don't look now, but here comes that trend line - Bennet Sedacca - 11:23 AM

Economic numbers, as suspected, are lousy. Sorry, but I can't put it any other way.

And bonds are reacting as they should. Up.

Stocks confuse me, but hey, this isn't the first, or last time that will happen.

And we are fast approaching the multi-year trend line in yields in 10's. We remain committed to this position and the idea of a Fed easing--perhaps even sooner than I originally thought.

See the chart here. if we break it, which I suspect after some consolidation of recent gains we will, it's off to the races. Then I think we will here inflation fears turn to deflation fears. Just my opinion folks. But like they say, NUMBERS DON'T LIE.

Position in 10's

What you need to know... - Jon Doctor J Najarian - 8:11 AM

Exxon (XOM) Up on UAE Recovery Rate Increase - The UAE and Exxon Mobil signed a final deal in March for XOM to take a 28% stake in Abu Dhabi's offshore field, among the world's largest oilfields and now they hope to increase oil recovery by at least 50% at the Upper Zakum field.

US Appeals Court Blocks Light Cigarette Ruling – In a 2-1 decision the court put on hold sanctions imposed on cigarette makers by a judge who had found they violated racketeering laws in a decades-long conspiracy to hide the dangers of smoking. Philip Morris parent group Altria Group (MO) said it was "pleased" with the appeals court action.

United Airlines Posts 2nd Profit In A Row! The parent of United Airlines posted a 2nd straight quarterly profit for the first time in six years. The profit was 2nd only to Continental's $237 million and four times the profit of Southwest's (LUV) $0.48 million. What's wrong with this picture?

Wages & Benefits Uptick - Wages and benefits paid to American workers rose last quarter by the most since 2004, as the unemployment rate matched a five-year low. The Labor Department said that its employment cost index rose 1% compared with the second quarter.

Positions in XOM, UAUA

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