Equities Sector Coverage: Stocks Fade Late, But Still Edge Higher

Sector Recap  |

Initial Jobless Claims came in at 367,000 still above the 350,000 recessionary threshold. Import Prices fell 0.5% and our Trade Deficit rose to $51.8 billion. The Dow Jones Industrial Average traded up to 12,931.71 Thursday, but traded below 12,875 into the final half hour of trading. The NASDAQ traded up from 2937.69 to 2950.21 Thursday then slipped to an afternoon low at 2923.14.

Asian stocks were lower on Thursday. The Nikkei 225 ended their session at 9,010 – down 0.39% on the day. The Hang Seng ended their session at 20,227 – down 0.51% on the day. European exchanges traded back and forth around the flat line end the day higher. The FTSE 100 ended their session at 5,544 – up 0.25% on the day. The DAX ended their session at 6,518 – up 0.66% on the day. The CAC 40 ended their session at 3,130 – up 0.37% on the day. The yield on the 10-Year US Treasury rose from 1.846 percent to 1.921 as the new issue trades underwater. The yield is below its 50-day and 200-day simple moving averages at 2.064 and 2.041.

Gold rebounded from $1585.0 the Troy ounce to $1602.2 well below the “Death Cross” 50-day and 200-day simple moving averages at $1656.8 and $1698.7. Crude oil rebounded from $96.08 per barrel to $97.69 versus its 200-day simple moving average at $96.30. The euro versus the dollar traded up 1.2927 to 1.2978 below its 50-day simple moving average at 1.3166.

Energy

Flotek Industries (FTK) reported Q1 EPS earnings of seven cents with better than expected revenue. C&J Energy Services(CJES) missed Q1 EPS estimates by three cents with a miss on the revenue line. Ultra Petroleum (UPL) up 7.1% as U.S natural gas prices rose for a third straight day; and is up 30% since April 19. Vantage Drilling (VTG) beat Q1 EPS estimates by a penny with a beat on the revenue line. Dow components – Chevron (CVX) – up 1.0%, Exxon Mobil (XOM) down 0.6%.
Energy Select Sector SPDR (XLE) was trading at $67.97 at 3:30 PM on Thursday, up 0.62% on the day – down 1.68% year-to-date.

Materials

AuRico Gold (AUQ) beat Q1 EPS estimates by a penny with revenue up +152% year over year. Denison Mines (DNN) missed Q1 EPS estimates by eleven cents with a modest beat on the revenue line. First Majestic Silver (AG) missed Q1 EPS estimates by four cents with revenue up 4.5% year over year. ArcelorMittal (MT) missed Q1 EPS estimates by four cents with a beat on the revenue line. Dow components – Alcoa (AA) down 0.7%, DuPont (DD) up 0.2%.
The Materials Select Sector SPDR (XLB) was trading at $35.17 at 3:30 PM on Thursday, down 0.14% on the day – up 4.99% year-to-date.

Industrials

Lsb Industries (LXU) beats Q1 EPS estimates by thirteen cents with a beat on the revenue line. Tesla Motors (TSLA) missed on all segments of its Q1 earnings report, but the company reported a 10% jump in deliveries in Europe and Asia. Tesla also indicated that deliveries of its Model S to customers in the US will begin in June, one month ahead of schedule and with better than expected guidance shares rose 8% in after hours trading on Wednesday. Babcock & Wilcox (BWC) beat Q1 EPS estimates by a penny with in-line revenue. Belden (BDC) beat Q1 EPS estimates by a penny with a beat on the revenue line. ACCO Brands (ACCO) missed Q1 EPS estimates by seven cents with a miss on the revenue line. Dow components – Boeing Co (BA) down 0.4%, Caterpillar (CAT) flat, General Electric (GE) up 1.3%, 3M Company (MMM) down 0.3%, United Technologies (UTX) up 0.2%.
The Industrial Select Sector SPDR (XLI) was trading at $35.82 at 3:30 PM on Thursday, up 0.36% on the day – up 6.13% year-to-date.

Consumer Discretionary

Live Nation (LYV) beat Q1 EPS estimates by three cents with in-line revenue. Priceline (PCLN) beat on a per share basis but missing slightly on revenue and the stock fell 3.6% in after hours trading on Wednesday. Digital Generation Systems (DGIT) reported Q1 EPS estimates of a nickel with a beat on the revenue. Activision Blizzard (ATVI) beat Q1 EPS estimates by two cents with a beat on the revenue line, but guidance was shy of expectations. Sony (SNE) reported a record annual net loss of $5.7 billion in FY 2012, their 4th consecutive year of red ink, primarily caused by troubles in its TV business. After four losing years in a row Sony projects a positive year ahead. Liberty Media (LMCA) continues to seek control of Sirius XM (SIRI) with more purchases recently. Dow Components – Disney (DIS) up 0.8%, Home Depot up 0.9%, McDonalds (MCD) up 0.3%.
The Consumer Discretionary Select Sector SPDR (XLY) was trading at $44.42 at 3:30 PM on Thursday, up 0.54% on the day – up 13.84% year-to-date.

Consumer Staples

Monster Beverage (MNST) reported sharply higher-than-expected Q1 revenue growth and the stock surged 13.3% in after hours trading on Wednesday. riceline (PCLN) beat on a per share basis but missing slightly on revenue and the stock fell 3.6% in after hours trading on Wednesday. Inter Parfums (IPAR) beat Q1 EPS estimates by twelve cents with a beat on the revenue line. News Corp (NWSA) beat FQ3 EPS estimates by six cents with a beat on the revenue line. Kohl's (KSS) opened 9 new stores, plans to open 10 more stores in fall. Dow components – Kraft (KFT) up 0.2%, Coca Cola (KO) up 0.7%, Procter & Gamble (PG) up 0.8%, Wal-Mart (WMT) up 0.5%.
The Consumer Staples Select Sector SPDR (XLP) was trading at $34.16 at 3:30 PM on Thursday, up 0.83% on the day – up 5.14% year-to-date.

Health Care

After spending $87 million promoting Lipitor in the US after its patent expired, Pfizer (PFE) will stop doing so as more generic versions become available. Currently there is only one generic brand for Lipitor so the generic is priced the same as the brand name. SciClone Pharmaceuticals (SCLN) beat Q1 EPS estimates by four cents with a beat on the revenue line. Dow Components – Johnson & Johnson (JNJ) up 0.7%, Merck (MRK) up 0.9%, Pfizer (PFE) up 1.1%.
The Health Care Select Sector SPDR (XLV) was trading at $37.10 at 3:30 PM on Thursday, up 0.84% on the day – up 6.95% year-to-date.

Financials

Stifel Financial (DF) beat Q1 EPS estimates by three cents with a beat on the revenue line. Dow Components – American Express (AXP) up 0.3%, Bank of America (BAC) flat, JP Morgan Chase (JPM) up 0.6%, Travelers (TRV) up 0.7%.
The Financial Select Sector SPDR (XLF) was trading at $15.03 at 3:30 PM on Thursday, up 0.74% on the day – up 15.62% year-to-date.

Information Technology

Silicon Graphics (DGI) lowered forward guidance in its quarterly earnings report for several reasons - a large deal slipped into FQ1, customers delaying orders ahead of new product launches, lower margins and the slowdown in Europe. Cisco Systems (CSCO) beat EPS estimates but their commentary was downbeat citing weak Euro and public sector spending, even orders from China were down 8% year over year. Quantum (QTM) missed Q1 EPS estimates by two cents with in-line revenue. Universal Display (PANL) missed Q1 EPS estimates by seven cents and missed on the revenue line blaming the shortfall on lack of Samsung licensing revenue, and shares plunged 17% in after hours trading on Wednesday. BMC Software (BMC) missed FQ4 EPS estimates by sic cents with a beat on the revenue line. Micron (MU) confirmed that they are in talks to acquire Elpida Memory for $2.5 billion for the bankrupt Japanese chipmaker. Dow Components – Cisco Systems (CSCO) down 9.1%, Hewlett-Packard (HPQ) down 0.4%, IBM (IBM) flat, Intel Corp (INTC) down 0.6%, Microsoft (MSFT) down 0.6%.
The Technology Select Sector SPDR (XLK) was trading at $28.74 at 3:30 PM on Thursday, down 0.52% on the day – up 12.93% year-to-date.

Telecommunication Services

CenturyLink (CTL) beat Q1 EPS estimates by ten cents with in-line revenue. Dow components – AT&T (T) up 0.6%, Verizon (VZ) up 0.9%.
The NASDAQ Telecommunications Index (IXTC) was trading at $188.18 at 3:30 PM on Thursday, down 5.30% on the day – down 4.44% year-to-date.

Utilities

Westar Energy (WR) missed Q1 EPS estimates by six cents with a miss on the revenue line. MYR Group (MYRG) beat Q1 EPS estimates by seven cents with a beat on the revenue line. Dynegy (DYN) reported a Q1 EPS loss of 47 cents with a miss on the revenue line. Windstream (WIN) missed Q1 EPS estimates by a penny with in-line revenue. BT Group (BT) beat Q1 EPS estimates by two cents with a revenue decline of 3.6% year over year. Dominion Resources (D) up 0.6%, Edison International (EIX) flat, First Energy (FE) up 0.9%, PG&E Corp (PCG) up 0.8%, Southern Company (SO) up 0.4%.
The Utilities Select Sector SPDR (XLU) was trading at $36.00 at 3:30 PM on Thursday, up 1.18% on the day – up 0.06% year-to-date.

STOCKS: CVX, XOM, NOV, FTK, CJES, UPL, VTG, AA, DD, AUQ, DNN, AG, MT, BA, CAT, GE, MMM, UTX, LXU, TSLA, BWC, BDC, ACCO, DIS, HD, MCD, LYV, PCLN, DGIT, ATVI, SNE, LMCA, SIRI, KFT, KO, PG, WMT, MNST, IPAR, NWSA, KSS, JNJ, MRK, PFE, SCLN, AXP, BAC, JPM, TRV, DF, CSCO, HPQ, IBM, INTC, MSFT, DGI, QTM, PANL, BMC, MU, T, VZ, CTL, D, EIX, FE, PCG, SO, WR, MYRG, DYN, WIN, BT

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Companies

Symbol Name Price Change % Volume
DNN Denison Mines Corp (Canada) 0.52 -0.02 -2.83 864,390
MMM 3M Company 197.46 -0.86 -0.43 1,828,852 Trade
CJES C&J Energy Services Ltd. n/a n/a n/a n/a
BDC Belden Inc 45.38 -1.18 -2.53 557,372 Trade
PG Procter & Gamble Company (The) 93.91 0.88 0.95 8,743,799 Trade
GE General Electric Company 6.76 -0.17 -2.45 124,580,597 Trade
CVX Chevron Corporation 115.47 0.53 0.46 5,929,422 Trade
SO Southern Company (The) 47.56 0.34 0.72 5,526,434 Trade
PCG Pacific Gas & Electric Co. 26.06 0.17 0.66 4,841,822 Trade
TSLA Tesla Motors Inc. 366.76 1.61 0.44 6,308,769 Trade
LYV Live Nation Entertainment Inc. 54.16 -0.18 -0.33 1,268,270 Trade
JNJ Johnson & Johnson 146.50 1.24 0.85 9,857,360 Trade
WMT Walmart Inc. 93.85 -0.09 -0.10 6,452,637 Trade
AA Alcoa Corporation 28.43 0.11 0.39 2,490,557 Trade
INTC Intel Corporation 47.38 0.17 0.36 23,850,962 Trade
IBM International Business Machines Corporation 120.89 -0.24 -0.20 5,043,081 Trade
D Dominion Energy Inc. 76.25 -0.02 -0.03 3,991,716 Trade
NOV National Oilwell Varco Inc. 28.07 -1.09 -3.74 5,212,215 Trade
TRV The Travelers Companies Inc. 120.97 -2.03 -1.65 1,877,235 Trade
LXU LSB Industries Inc. 6.71 -0.07 -1.03 68,229 Trade
TUMI Tumi Holdings Inc. n/a n/a n/a 0 Trade
DF Dean Foods Company 4.60 0.20 4.55 2,908,197 Trade
EIX Edison International 58.89 0.05 0.08 1,361,898 Trade
PCLN BKNG Calfrac Well Services Ltd. n/a n/a n/a n/a
JPM JP Morgan Chase & Co. 100.37 -0.99 -0.98 16,860,677 Trade
AXP American Express Company 105.40 -0.39 -0.37 3,132,405 Trade
AG First Majestic Silver Corp. (Canada) 5.11 -0.02 -0.39 2,043,242 Trade
UTX United Technologies Corporation 118.93 -0.48 -0.40 4,331,809 Trade
LMCA Liberty Media Corp (DE) n/a n/a n/a 0 Trade
MNST Monster Beverage Corporation 57.58 0.63 1.11 3,847,278 Trade
MYRG MYR Group Inc. 28.04 -0.49 -1.72 43,281 Trade
CSCO Cisco Systems Inc. 47.09 0.23 0.49 26,048,515 Trade
DIS The Walt Disney Company 111.97 0.11 0.10 6,861,759 Trade
VZ Verizon Communications Inc. 58.85 0.58 1.00 14,991,438 Trade
NWSA News Corporation 12.46 -0.07 -0.56 2,465,034 Trade
QTM Quantum Corporation 2.35 0.24 11.37 231,587 Trade
BAC Bank of America Corporation 24.58 -0.18 -0.73 78,545,015 Trade
MCD McDonald's Corporation 183.59 -1.06 -0.57 2,889,144 Trade
BT BT Group plc American Depositary Shares 15.86 -0.01 -0.06 705,968 Trade
CTL CenturyLink Inc. 16.97 -0.08 -0.47 11,191,941 Trade
KSS Kohl's Corporation 62.95 -0.27 -0.43 2,197,165 Trade
ATVI Activision Blizzard Inc 48.20 0.32 0.67 12,474,126 Trade
ACCO Acco Brands Corporation 7.00 -0.12 -1.69 903,605 Trade
WIN Windstream Holdings Inc. 2.69 -0.16 -5.61 1,072,384 Trade
SIRI Sirius XM Holdings Inc. 6.26 0.06 0.97 27,312,163 Trade
HD Home Depot Inc. (The) 172.21 0.52 0.30 5,229,405 Trade
XOM Exxon Mobil Corporation 76.68 0.14 0.18 15,742,418 Trade
PFE Pfizer Inc. 44.01 -0.39 -0.88 22,680,157 Trade
MT Arcelor Mittal NY Registry Shares NEW 21.57 0.17 0.79 2,528,741 Trade
HPQ HP Inc. 22.55 -0.38 -1.66 13,065,207 Trade
BA The Boeing Company 322.03 -4.32 -1.32 3,566,436 Trade
UPL Ultra Petroleum Corp. 1.08 -0.06 -5.26 2,945,441 Trade
MRK Merck & Company Inc. (new) 77.11 -0.31 -0.40 13,232,513 Trade
FE FirstEnergy Corp. 39.61 0.07 0.18 3,119,145 Trade
MU Micron Technology Inc. 35.21 0.41 1.18 26,238,769 Trade
KO Coca-Cola Company (The) 49.54 0.30 0.61 18,083,598 Trade
SNE Sony Corporation 51.15 0.04 0.08 1,814,742 Trade
T AT&T Inc. 29.70 -0.21 -0.70 49,563,330 Trade
FTK Flotek Industries Inc. 1.24 0.02 1.64 1,302,620 Trade
CAT Caterpillar Inc. 123.24 -0.15 -0.12 4,449,915 Trade
IPAR Inter Parfums Inc. 60.39 1.03 1.74 59,975 Trade
MSFT Microsoft Corporation 108.59 1.00 0.93 42,381,947 Trade
PANL Pangaea Logistics Solutions Ltd. 3.01 0.01 0.33 3,445 Trade

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