Buzz Bits: Dow, Nasdaq Fall
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Earnings Report - MV News
- Priceline.com (PCLN) reports 4Q EPS of $0.58 vs. $0.40 on revs of $260.1 mln vs. $235.9 mln cons.
- Cephalon (CEPH) reports 4Q EPS of $1.06 which may not be comparable to $0.80 cons on revs of $484.68 mln vs. $431.11 mln cons.
- YUM Brands (YUM) repoers 4Q EPS of $0.83 vs. $0.79 cons on revs of $3.02 bln vs. $2.89 bln cons.
Bell Buzz - Todd Harrison - 3:51 PM
- I would feel entirely more comfortable pressing shorts if those pesky banks weren't sticky green. As it stands, the piggies remain thisclose to fresh acne above BKX 119.
- While I recently sold a slew of metal stocks, I'm not gonna get too cute on nibblin' back as there are alotta ways to win (central bank and ETF buying, geopolitical strife, etc.) and one way to lose (the phantom).
- If the tape ended green today, whataya think the mainstream explanation would be?
- Expiration influences take root in the days prior to the actual expiry. Along those lines, keep your eyes peeled for a volatility uptick in the next few sessions.
- Remember Minyans, nationalization is the evil twin of globalization. When the going gets tough, the tough tend to take care of themselves.
- Trading "not to lose" is the quickest way to do just that.
- I, for one, am looking forward to tomorrow. Why? It's not Monday, for one, and it's a day closer to the holiday weekend, for deux. And this holiday weekend will find me vibing with the Margarita Maven down south. Noice. Fare ye well into the bell, Minyans, and we'll pick up the scent fresh in the ayem.
Positions in metal stocks, financials
So Far So... - Fil Zucchi - 3:00 PM
- ...Wrong: Since Advanced Micro Devices (AMD) warned and then reported the stock has been dripping lower without respite. I was apparently bottom fishing without a bottom. Kudos to Prof. Erlanger for spotting AMD as a "Long Squeeze," if I recall correctly.
- ...Right: The small cap defense electronic names continue to have a very nice bid to them, even better than their bigger brothers. (APSG, EDO, STST, LLL)
- ...Confused: On gold. I thought last Friday's break-out was going to be the one, but the golden one has been a tough puppy to tame. Do we need yet another shake-out to the $650-ish level?
- ...Wrong: My dark side shot on the casino names apparently was the "usual" 6-12 months early. And so now I am watching my March puts languish with no bids, just as the entire sector is showing some meaningful technical cracks.
- ...Right: On large med-tech. Both St. Jude (STJ) and Zimmer Hldgs. (ZMH) continue to look good for Hoofy despite the pause in this overall weak market. If the market turns, these should be leaders.
- ...Wrong: On the trannies. I bet that they would cave like wet noodles and they shot to new highs. They're even up today and forming a nice little pennant. They've got me talking to myself.
- ...Disciplined: I let the stop take away the planes - er - pain.
Positions in AMD, STST, LLL, EDO, APSG, STJ, ZMH, gold equities
Loitering Buzz - Jeff Macke - 12:47 PM
Greetings from New York City where I just hung out at the midtown flagship of Victoria's Secret (part of Limited's (LTD) estimate-beating team) for as long as legally allowed, doing a segment of Fast Money for tomorrow night. A stock guy standing outside a women's "intimates" store? Hey, it beats reporting from the Westminster Dog Show.
In less voyeuristic news...
- CostCo (COST) is trading around flat today, despite Barron's jumping on my bandwagon (in an unattributed way) over the weekend. You want another "tell" as to the tape feeling like down is the easier direction? Compare the beating UnderArmour (UA) got from a negative Barron's cover a couple of weeks ago to CostCo's action today.
- While out on the town with Todd-O and crew last Saturday night we ran into Keith Olbermann of MSNBC fame at a coat check. There being no protocol for greeting fellow TV types, particularly those with better ratings in your same time slot, I went with a wildly self-conscious "Hey." Keith said "hey" back.
- Speaking of Valentine's Day and retailers, if you look on the calender, V-Day is the only sales-boosting oasis in the retail desert between Christmas and Easter (when folks of all faiths tend to buy their Spring-wear). It's a slow time of the year for the merchants but, if there is going to be news, expect it from the department stores, jewelry guys (Zale (ZLC), Blue Nile (NILE), Tiffany (TIF)) and, of course, Victoria's Secret. From my visit this morning, VS looks ready to rumble for the season.
What You Need to Know... - Jon Doctor J Najarian - 8:21 AM
Kraft Upgraded at UBS – The broker took KFT to neutral from reduce saying it expects "a modest improvement in share price based on investor hopes for "shareholder friendly" actions and accelerated growth under new CEO Irene Rosenfeld."
Blackstone Buying Pinnacle Foods - The guys and gals over at Blackstone are earning their outlandish pay these days, as there can hardly be enough hours in the day to get all the due diligence done, given all the deals they are doing. Today it's the purchase of the parent of Vlasic Pickles, Aunt Jemima Pancakes, and Duncan Hines for $1.2 billion.
Tenaris (TS) Buying Hydril (HYDL) For $2.1 Billion – This merger ties American's largest connection and pressure control producer for the oil and gas industry with Luxembourg's manufacturer of seamless steel pipe products. The deal done over the weekend was priced at a 17% premium to HYDL's closing price of $83.04, as TS is paying $97 in cash.
Bayer (BAY) & Onyx (ONXX) Get Positive Results - The two drug giants had a Phase 3 trial of Nexavar to treat advanced liver cancer underway, but they closed early due to a positive outcome. Nexavar is currently approved in nearly 50 countries, including the US and in the European Union, for the treatment of patients with advanced kidney cancer.
Positions in ONXX, HYDL, TS & SGEN
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