Week in the Market - March 19, 2010
% Change
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Index Close Week YTD
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DJIA 10741.98 1.10% 3.01%
S&P 500 1159.90 0.86% 4.02%
NASDAQ 2374.41 0.29% 4.64%
-Citigroup's (NYSE: C) Primerica plans to sell 18 million shares in an IPO in addition to the $230 million in stock that a private-equity firm plans to purchase
-Baker Hughes (NYSE: BHI) and BJ Services (NYSE: BJS) put their stockholders meetings on their proposed merger on hold as the company's wait for U.S. regulatory approval
-Palm (NASDAQ: PALM) disappoints after reporting a fiscal Q3 loss of $0.61 per share, wider than consensus estimates for a loss of $0.42, on revenues of $366 million, which beat consensus estimates of $319 million
-Federal Reserve officials said they plan to keep the main interest rate near zero for an "extended period" and confirmed that $1.25 trillion in purchases of mortgage-backed securities will end this month
-Teva Pharmaceuticals (NASDAQ: TEVA) won the race to acquire Ratiopharm Group International, agreeing to pay $5 billion for the company
-Google (NASDAQ: GOOG) may announce at the end of March that it is pulling its businesses out of China
The Week Ahead...
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-Earnings Calendar:
-Mon: Williams-Sonoma Inc. (NYSE: WSM), Tiffany & Co. (NYSE: TIF), Maguire Properties Inc. (NYSE: MPG), Phillips-Van Heusen (NYSE: PVH)
-Tues: KB Home (NYSE: KBH), Walgreen Co. (NYSE: WAG), Sonic Corp. (NASDAQ: SONC), Darden Restaurants (NYSE: DRI), Carnival Corp. (NYSE: CCL), Adobe Systems (NASDAQ: ADBE), China Armco Metals Inc. (NASDAQ: CNAM)
-Wed: General Mills (NYSE: GIS), Lennar Corp. (NYSE: LEN), Paychex Inc. (NASDAQ: PAYX), American Caresource (NASDAQ: ANCI), CKE Restaurants (NYSE: CKR), Red Hat (NYSE: RHT), Commercial Metals (NYSE: CMC)
-Thurs: ConAgra Foods (NYSE: CAG), Oracle Corp. (NASDAQ: ORCL), Best Buy (NYSE: BBY)
-Fri:N/A
-Economic Data(estimates in parenthesis):
-Existing Home Sales (5.00M, -1.0%), Richmond Fed Manufacturing Index, Durable Goods Orders (+0.5%), Durables Ex-Transportation (+0.5%), New Home Sales (315K, +1.9%), Initial Jobless Claims (450K), Continuing Jobless Claims (4560K), GPD QoQ (5.9%), Personal Consumption, GDP Price Index (0.4%), Core PCE QoQ (1.6%), University of Michigan Confidence (73.0)
-FedSpeak:
-Atlanta Fed President Dennis Lockhart (Mon), Secretary of the Treasury Timothy Geithner (Mon), Philadelphia President Charles Plosser (Tues), San Francisco President Janet Yellen (Tues), Kansas City President Thomas Hoenig (Weds), Fed Vice Chairman Donald Kohn (Weds), Kansas City President Sandra Pianalto (Thurs), Fed Chairman Ben Bernanke (Thurs), Fed Governor Kevin Warsh (Fri), St. Louis President James Bullard (Fri), Fed Governor Daniel Tarullo (Fri)
By Chip Brian, Editor-in-Chief
Ticker Trend Trend Date Trend Price Last Price Return ---------------------------------------------------------------------------- PALM Downtrend 01/29/2010 $10.69 $4.00 62.6% TEVA Uptrend 11/06/2009 $51.72 $63.03 21.9% BJS Uptrend 01/05/2010 $19.50 $21.56 10.6% BHI Uptrend 12/16/2009 $41.16 $47.53 15.5%
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