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

Sector Recap |

Wall StreetInitial 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) 0.81 0.07 10.09 3,087,290
MMM 3M Company 177.39 -0.05 -0.03 1,265,593
CJES C&J Energy Services Ltd. n/a n/a n/a n/a
BDC Belden Inc 77.79 0.97 1.26 310,187
PG Procter & Gamble Company (The) 84.01 0.17 0.20 6,762,797
GE General Electric Co 31.36 -0.03 -0.10 24,323,767
CVX Chevron Corporation 116.38 0.22 0.19 4,952,967
SO Southern Company (The) 48.80 -0.20 -0.41 3,590,684
PCG Pacific Gas & Electric Co. 60.58 -0.03 -0.05 1,684,275
TSLA Tesla Motors Inc. 237.75 8.16 3.55 6,092,960
LYV Live Nation Entertainment Inc. 27.72 0.28 1.02 410,914
JNJ Johnson & Johnson 114.60 -0.02 -0.02 4,935,188
WMT Wal-Mart Stores Inc. 67.13 -0.84 -1.24 10,012,519
AA Alcoa Inc. 33.01 -0.03 -0.09 3,026,712
INTC Intel Corporation 36.79 0.08 0.22 15,072,235
IBM International Business Machines Corp 167.34 -0.61 -0.36 2,875,433
DGI DigitalGlobe Inc 29.45 0.40 1.38 124,095
D Dominion Resources Inc. 75.21 -0.07 -0.09 1,992,744
NOV National Oilwell Varco Inc. 37.40 -0.76 -1.99 2,444,606
TRV The Travelers Companies Inc. 117.05 0.30 0.26 1,543,846
LXU LSB Industries Inc. 8.16 0.07 0.87 431,378
TUMI Tumi Holdings Inc. n/a n/a n/a 0
DF Dean Foods Company 20.92 0.30 1.45 742,702
EIX Edison International 72.10 -0.28 -0.39 979,440
PCLN The Priceline Group Inc. 1,545.82 7.23 0.47 327,038
JPM JP Morgan Chase 86.70 0.46 0.53 28,295,985
AXP American Express Company 76.62 -0.26 -0.34 3,454,338
AG First Majestic Silver Corp. (Canada) 9.18 0.39 4.44 5,126,508
UTX United Technologies Corporation 110.22 -0.60 -0.54 2,880,618
LMCA Liberty Media Corporation 30.24 0.15 0.50 144,110
MNST Monster Beverage Corporation 44.51 1.40 3.25 4,524,963
MYRG MYR Group Inc. 37.74 0.58 1.56 53,096
CSCO Cisco Systems Inc. 30.07 0.03 0.10 17,136,585
DIS Walt Disney Company (The) 108.06 0.53 0.49 6,488,966
VZ Verizon Communications Inc. 52.55 -0.13 -0.25 9,458,660
NWSA News Corporation 12.05 0.03 0.25 1,561,334
QTM Quantum Corporation 0.91 0.03 2.99 931,040
SCLN SciClone Pharmaceuticals Inc. 10.55 0.20 1.93 143,245
BAC Bank of America Corporation 23.01 0.09 0.39 161,930,864
MCD McDonald\'s Corporation 121.50 -0.60 -0.49 2,877,498
BT BT Group plc American Depositary Shares 24.19 -0.05 -0.21 271,236
CTL CenturyLink Inc. 25.26 0.08 0.32 5,313,070
DD E.I. du Pont de Nemours and Co. 73.60 -0.51 -0.69 1,942,343
KSS Kohl\'s Corporation 40.79 -0.52 -1.26 3,726,709
ATVI Activision Blizzard Inc 38.95 -0.18 -0.46 6,372,891
WR Westar Energy Inc. 55.01 0.06 0.11 320,947
ACCO Acco Brands Corporation 12.70 0.20 1.60 503,686
WIN Windstream Holdings Inc. 8.02 0.12 1.52 712,494
SIRI Sirius XM Holdings Inc. 4.61 0.03 0.66 25,423,720
HD Home Depot Inc. (The) 135.04 -0.03 -0.02 3,117,703
XOM Exxon Mobil Corporation 86.35 0.01 0.01 8,415,603
PFE Pfizer Inc. 32.52 -0.08 -0.25 20,291,186
MT ArcelorMittal 8.04 0.14 1.77 10,719,158
HPQ HP Inc. 14.77 -0.02 -0.14 9,336,199
BA Boeing Company (The) 158.83 0.54 0.34 2,435,391
UPL Ultra Petroleum Corp. n/a n/a n/a 0
MRK Merck & Company Inc. (new) 62.34 0.13 0.21 9,969,105
FE FirstEnergy Corporation 30.61 -0.07 -0.23 3,889,258
MU Micron Technology Inc. 22.18 -0.13 -0.58 14,025,660
KO Coca-Cola Company (The) 40.88 -0.07 -0.17 8,123,494
SNE Sony Corporation 31.02 0.15 0.49 805,295
T AT&T Inc. 40.96 -0.05 -0.12 13,932,163
FTK Flotek Industries Inc. 10.31 0.70 7.28 1,165,161
CAT Caterpillar Inc. 94.48 0.49 0.52 2,609,480
IPAR Inter Parfums Inc. 33.00 0.45 1.38 29,781
MSFT Microsoft Corporation 62.70 0.09 0.14 19,422,310
PANL Pangaea Logistics Solutions Ltd. 3.33 0.11 3.42 1,211

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