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

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
DNN Denison Mines Corp (Canada) 0.47 -0.01 -2.89 210,299
MMM 3M Company 213.56 -0.20 -0.09 1,430,246 Trade
CJES C&J Energy Services Ltd. n/a n/a n/a n/a
BDC Belden Inc 79.43 0.06 0.08 192,813 Trade
PG Procter & Gamble Company (The) 94.17 1.02 1.10 6,587,402 Trade
GE General Electric Co 24.20 -0.26 -1.06 45,348,567 Trade
CVX Chevron Corporation 116.34 1.15 1.00 6,188,132 Trade
SO Southern Company (The) 49.87 -0.20 -0.40 5,110,121 Trade
PCG Pacific Gas & Electric Co. 69.28 -0.37 -0.53 1,693,967 Trade
TSLA Tesla Motors Inc. 375.10 -9.90 -2.57 6,487,603 Trade
LYV Live Nation Entertainment Inc. 43.19 1.02 2.42 1,243,443 Trade
JNJ Johnson & Johnson 135.22 -0.16 -0.12 4,921,674 Trade
WMT Wal-Mart Stores Inc. 80.05 0.05 0.06 6,175,361 Trade
AA Alcoa Inc. 46.20 1.29 2.87 4,860,859 Trade
INTC Intel Corporation 37.23 0.23 0.62 23,851,528 Trade
IBM International Business Machines Corp 144.39 -0.16 -0.11 3,464,443 Trade
DGI DigitalGlobe Inc 34.75 0.00 0.00 337,458 Trade
D Dominion Resources Inc. 78.33 -0.22 -0.28 2,463,727 Trade
NOV National Oilwell Varco Inc. 35.18 0.41 1.18 2,238,255 Trade
TRV The Travelers Companies Inc. 120.58 -0.14 -0.12 1,248,293 Trade
LXU LSB Industries Inc. 7.26 0.22 3.13 294,255 Trade
TUMI Tumi Holdings Inc. n/a n/a n/a 0 Trade
DF Dean Foods Company 10.78 -0.27 -2.44 1,039,423 Trade
EIX Edison International 79.71 -0.84 -1.04 2,506,899 Trade
PCLN The Priceline Group Inc. 1,859.78 5.60 0.30 301,611 Trade
JPM JP Morgan Chase 93.94 1.02 1.10 12,628,259 Trade
AXP American Express Company 89.00 1.13 1.29 4,043,778 Trade
AG First Majestic Silver Corp. (Canada) 7.04 0.19 2.77 1,975,319 Trade
UTX United Technologies Corporation 113.65 0.88 0.78 3,328,461 Trade
LMCA Liberty Media Corporation n/a n/a n/a 0 Trade
MNST Monster Beverage Corporation 56.26 -0.41 -0.72 1,464,415 Trade
MYRG MYR Group Inc. 26.75 -0.07 -0.26 63,967 Trade
CSCO Cisco Systems Inc. 32.49 -0.03 -0.09 12,929,747 Trade
DIS Walt Disney Company (The) 98.43 0.33 0.34 6,970,307 Trade
VZ Verizon Communications Inc. 49.34 1.25 2.60 30,818,977 Trade
NWSA News Corporation 13.05 -0.04 -0.31 1,779,236 Trade
QTM Quantum Corporation 5.80 -0.11 -1.86 441,894 Trade
SCLN SciClone Pharmaceuticals Inc. 11.10 0.00 0.00 218,615 Trade
BAC Bank of America Corporation 24.86 0.16 0.65 56,270,969 Trade
MCD McDonald\'s Corporation 157.43 0.75 0.48 3,562,979 Trade
BT BT Group plc American Depositary Shares 19.54 0.00 0.00 641,877 Trade
CTL CenturyLink Inc. 18.53 0.21 1.15 8,224,883 Trade
DD E.I. du Pont de Nemours and Co. 83.93 0.00 0.00 0 Trade
KSS Kohl\'s Corporation 45.38 0.49 1.09 8,127,425 Trade
ATVI Activision Blizzard Inc 64.31 0.11 0.17 6,653,288 Trade
WR Westar Energy Inc. 50.58 0.15 0.30 404,379 Trade
ACCO Acco Brands Corporation 11.75 0.00 0.00 326,837 Trade
WIN Windstream Holdings Inc. 1.95 -0.06 -2.99 4,820,726 Trade
SIRI Sirius XM Holdings Inc. 5.47 -0.01 -0.18 10,609,868 Trade
HD Home Depot Inc. (The) 157.66 -0.15 -0.10 3,714,521 Trade
XOM Exxon Mobil Corporation 80.22 0.13 0.16 9,278,557 Trade
PFE Pfizer Inc. 35.45 -0.10 -0.28 15,709,356 Trade
MT ArcelorMittal 26.91 -0.20 -0.74 3,425,558 Trade
HPQ HP Inc. 19.49 -0.10 -0.51 5,527,879 Trade
BA Boeing Company (The) 252.46 -0.62 -0.24 4,127,520 Trade
UPL Ultra Petroleum Corp. 8.94 -0.03 -0.33 1,494,819 Trade
MRK Merck & Company Inc. (new) 65.95 -0.04 -0.06 7,009,310 Trade
FE FirstEnergy Corporation 31.37 0.12 0.38 3,938,926 Trade
MU Micron Technology Inc. 35.95 0.52 1.47 26,572,572 Trade
KO Coca-Cola Company (The) 45.98 -0.13 -0.28 7,302,048 Trade
SNE Sony Corporation 37.66 -0.73 -1.90 1,682,883 Trade
T AT&T Inc. 38.21 0.79 2.11 46,338,747 Trade
FTK Flotek Industries Inc. 5.48 0.06 1.11 1,273,166 Trade
CAT Caterpillar Inc. 124.74 0.91 0.73 3,051,264 Trade
IPAR Inter Parfums Inc. 40.50 -0.25 -0.61 48,698 Trade
MSFT Microsoft Corporation 75.44 0.28 0.37 16,106,130 Trade
PANL Pangaea Logistics Solutions Ltd. 2.46 0.00 0.00 0 Trade

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