Greetings!
Live Morning Squawk Call
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Today's Calendar
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Tuesday, August 24, 2010
Economic
08:30 Canada June Retail sales
10:00 US July Existing Home Sales,
Aug Richmond Fed Index, Mexico July Trade Balance
16:30 API Crude
Oil/Gasoline/Distillate Inventories
Events
08:45 Fed's Evans Speaks in Indianapolis.
07:45 ICSC/UBSW Chain Store Sales. 08:55 Redbook Retail Sales. ABC
Consumer Confidence. Trades Ex-Split: ODFL 3-2, . Trades
Ex-dividend: Trades Ex-dividend: MHP $0.235, VMC $0.25, WYN
$0.12.
Earnings
Before the Open:
AMWD, BKS, BIG, BKC, DAKT, MDT, TSL. After the Close: DY, PSUN,
RUE, NCTY, PAY.
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Weekend Recap
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Barron's Summary: Positive on APD and HP
- Barron's
comments on the much-awaited GM's IPO announced last week. Barrons
notes that there are many uncertainties and lack of information
regarding the IPO such as the size of the deal, the expected stock
market value and if the American taxpayers will get back their
money. In face of a demanding Obama,who promised taxpayers would
get back their $50B investment from the Treasury, and cautious
institutional buyers, Barron's expects a price of $100-140/shr and
a stock market value of $60B or more.
- Putnam's investment head of
global asset allocation Jeff Knight recommends European stocks
given the weak euro and equities if the investor has a 10-year
investment horizon. Recommends high-yield corporate bonds, has a
neutral weight recommendation on Treasuries and neutral on emerging
market debt. Is underweight on commodities
- Positive feature on Helmerich
& Payne as many oil companies are abandoning available order
rigs in favor of new technologically advanced and cost-effective
rigs. Helmerich & Payne is poised to benefit from this trend
and is winning market shares as demand surges for its high-tech
FlexRigs. Orders amounted at 16 for FlexRigs last month. The third
quarter beat analysts expectations who are rising price targets for
the stock, currently trading at $38, to $63.
- Positive feature on Air
Products as the company is trying to acquire AirGas for $63.50/shr
in cash. Barron's notes that the stock could still rise by 20% with
or without the deal. CEO said that Air Products alone should boost
revenues by 10-12% annually over the next 5 yrs, while earnings
could rise to 12-14%. Furthermore, if the economy recovers even
slightly, demand for Air Products' wares should increase
significantly.
- Barron's comments positively
on INTC though is skeptical on the deal with MFE; All risks are
discounted in the stock.
- Barron's sees the deamand for
smartphones remaining strong going forward and sees AAPL as being
the big winner at the end of the day.
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Blog - Free Daily Trading & Market Updates
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Enjoy!
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