Market Update

Beware Of New 52 Week Highs During Options Expiration Week

Posted on 02/16/10 at 11:42am
Since mid January the major stock indexes have topped out in the short term and a pullback has been underway. The Dow Jones Industrial Average hit a high at 10,729 on January 19th, 2010 and made a short term low on February 5th, 2010 at 9,835. During that time many commodity and financial stocks lead the declined sharply.
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Prudential Attempts To Calm Its Shareholders (PUK, AIG)

Posted on 03/12/10 at 5:34pm
A number of Prudential (NYSE: PUK) investors have expressed their skepticism over its bid for AIG’s (NYSE: AIG) Asian operations. The deal will increase Prudential’s (PUK) size by twofold.
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Standpoint Downgrades Safeway (SWY)

Posted on 03/12/10 at 3:21pm
Standpoint Research downgraded shares of Safeway (SWY) this afternoon from Buy to Hold. The firm recommended the stock on December 11. Since that time, the shares have outperformed the S&P by more than 1200 basis points.
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Digital River Surging On High Volume (DRIV)

Posted on 03/12/10 at 3:07pm
Shares of Digital River (NASDAQ: DRIV) are moving higher today after an analyst reported that McAfee (NYSE: MFE) is testing Digital River's (DRIV) outsourced e-commerce solution.
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Pfizer Hits A Speed Bump Today (PFE)

Posted on 03/12/10 at 2:44pm
Shares of Pfizer (NYSE: PFE) tumbled today after the company announced disappointing clinical news for two oncology products, Sutent and figitumumab. Phase III studies of Sutent demonstrated that it was not effective in treating breast cancer.
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KKR To List Shares On The NYSE

Posted on 03/12/10 at 2:26pm
Private Equity firm KKR & Co. filed to list its shares on the New York Stock Exchange. The firm's existing publicly traded unit in Amsterdam will be dissolved and current shareholders will recieve one U.S. share for each share that they already own. This will result in 30% ownership of the firm by shareholders, and 70% by KKR executives.
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Top-Performing Narrow Based Indexes For March 12, 2010 (KIRK, IPI, GRO)

Posted on 03/12/10 at 2:17pm
The market has shown mixed reactions so far. While the Dow Jones Industrial Average has added 3.10 points to trade at 10,614.94, Nasdaq lost 1.52 to 2,366.94. Some narrow based indexes, however, are posting gains.
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Abbott Labs Downgraded At Citi (ABT)

Posted on 03/12/10 at 2:00pm
Analysts at Citigroup downgraded shares of Abbott Labs (NYSE: ABT) from Neutral to Sell today. The firm also lowered their price target on ABT stock from $52 to $46.
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Market Roundup (POT, MOS, AGU, AAUKY.PK, XSRAF.PK, BHP, SVU, TM)

Posted on 03/12/10 at 1:44pm
Potash makers have jumped today after Potash Corp (NYSE: POT) projected a sharp rise in demand for the soil nutrient this year. POT expects record North American sales and strong exports during the current quarter.
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Ann Taylor Earnings Report (ANN)

Posted on 03/12/10 at 1:34pm
Ann Taylor (NYSE: ANN) released their quarterly earnings numbers today before the opening bell. The retailer reported fourth quarter net income of $41,000 compared to a net loss of #375.61 million in last year's corresponding quarter.
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