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) 0.45 0.00 0.47 395,562
MMM 3M Company 212.61 -0.29 -0.14 1,352,092 Trade
CJES C&J Energy Services Ltd. n/a n/a n/a n/a
BDC Belden Inc 76.28 0.10 0.13 271,795 Trade
PG Procter & Gamble Company (The) 89.36 -0.06 -0.07 4,373,315 Trade
GE General Electric Co 27.61 0.04 0.15 28,501,565 Trade
CVX Chevron Corporation 104.14 -0.86 -0.82 3,602,490 Trade
SO Southern Company (The) 50.10 0.26 0.52 3,721,083 Trade
PCG Pacific Gas & Electric Co. 68.12 0.09 0.13 1,965,099 Trade
TSLA Tesla Motors Inc. 377.49 -5.96 -1.55 6,613,410 Trade
LYV Live Nation Entertainment Inc. 34.86 0.02 0.06 1,091,591 Trade
JNJ Johnson & Johnson 136.34 -0.09 -0.07 5,561,844 Trade
WMT Wal-Mart Stores Inc. 75.50 0.66 0.88 8,587,480 Trade
AA Alcoa Inc. 31.18 0.09 0.29 2,936,282 Trade
INTC Intel Corporation 34.07 -0.12 -0.35 18,856,140 Trade
IBM International Business Machines Corp 155.23 1.12 0.73 2,153,514 Trade
DGI DigitalGlobe Inc 32.65 0.40 1.24 683,975 Trade
D Dominion Resources Inc. 78.65 0.26 0.33 4,213,749 Trade
NOV National Oilwell Varco Inc. 31.79 0.15 0.47 2,848,820 Trade
TRV The Travelers Companies Inc. 127.95 0.29 0.23 1,004,866 Trade
LXU LSB Industries Inc. 10.62 0.12 1.14 288,686 Trade
TUMI Tumi Holdings Inc. n/a n/a n/a 0 Trade
DF Dean Foods Company 17.66 -0.05 -0.28 1,026,285 Trade
EIX Edison International 80.47 0.44 0.55 1,576,069 Trade
PCLN The Priceline Group Inc. 1,876.34 2.06 0.11 406,860 Trade
JPM JP Morgan Chase 87.24 0.38 0.44 10,082,422 Trade
AXP American Express Company 82.96 0.74 0.90 2,491,613 Trade
AG First Majestic Silver Corp. (Canada) 8.37 -0.02 -0.24 2,632,358 Trade
UTX United Technologies Corporation 121.87 -0.35 -0.29 1,644,762 Trade
LMCA Liberty Media Corporation n/a n/a n/a 0 Trade
MNST Monster Beverage Corporation 51.52 -0.47 -0.90 1,949,470 Trade
MYRG MYR Group Inc. 30.95 0.21 0.68 49,891 Trade
CSCO Cisco Systems Inc. 32.24 0.15 0.47 22,175,074 Trade
DIS Walt Disney Company (The) 105.57 1.21 1.16 5,866,976 Trade
VZ Verizon Communications Inc. 45.75 0.36 0.79 10,107,247 Trade
NWSA News Corporation 13.66 0.07 0.52 1,030,105 Trade
QTM Quantum Corporation 7.53 0.71 10.41 525,045 Trade
SCLN SciClone Pharmaceuticals Inc. 10.95 0.00 0.00 353,957 Trade
BAC Bank of America Corporation 22.89 0.07 0.31 61,308,079 Trade
MCD McDonald\'s Corporation 153.96 -0.68 -0.44 2,360,866 Trade
BT BT Group plc American Depositary Shares 18.62 0.13 0.70 469,953 Trade
CTL CenturyLink Inc. 24.55 0.14 0.57 6,548,463 Trade
DD E.I. du Pont de Nemours and Co. 81.16 0.17 0.21 1,580,187 Trade
KSS Kohl\'s Corporation 37.52 0.49 1.32 3,269,645 Trade
ATVI Activision Blizzard Inc 60.22 -0.22 -0.36 4,319,189 Trade
WR Westar Energy Inc. 53.54 0.43 0.81 458,865 Trade
ACCO Acco Brands Corporation 11.45 0.10 0.88 639,808 Trade
WIN Windstream Holdings Inc. 4.14 0.04 0.98 2,258,731 Trade
SIRI Sirius XM Holdings Inc. 5.30 -0.05 -0.93 17,493,222 Trade
HD Home Depot Inc. (The) 151.42 0.11 0.07 4,128,535 Trade
XOM Exxon Mobil Corporation 81.24 -0.37 -0.45 7,718,724 Trade
PFE Pfizer Inc. 34.04 -0.13 -0.38 14,172,264 Trade
MT ArcelorMittal 21.41 0.20 0.94 8,946,742 Trade
HPQ HP Inc. 18.16 0.36 2.02 14,175,294 Trade
BA Boeing Company (The) 199.98 -2.25 -1.11 3,077,632 Trade
UPL Ultra Petroleum Corp. 10.32 0.37 3.72 4,786,665 Trade
MRK Merck & Company Inc. (new) 65.92 -0.24 -0.36 7,576,421 Trade
FE FirstEnergy Corporation 30.09 1.18 4.08 7,131,325 Trade
MU Micron Technology Inc. 32.50 0.77 2.43 34,752,533 Trade
KO Coca-Cola Company (The) 45.43 0.18 0.40 7,747,067 Trade
SNE Sony Corporation 38.68 0.16 0.42 1,065,275 Trade
T AT&T Inc. 38.15 0.20 0.53 18,406,357 Trade
FTK Flotek Industries Inc. 8.38 0.08 0.96 550,563 Trade
CAT Caterpillar Inc. 104.25 0.14 0.13 2,857,661 Trade
IPAR Inter Parfums Inc. 37.05 0.40 1.09 82,452 Trade
MSFT Microsoft Corporation 70.53 -0.68 -0.95 19,609,258 Trade
PANL Pangaea Logistics Solutions Ltd. 2.69 -0.10 -3.58 2,625 Trade

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