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 0.00 303,555
MMM 3M Company 171.62 -0.81 -0.47 2,181,327
CJES C&J Energy Services Ltd. n/a n/a n/a n/a
BDC Belden Inc 74.99 0.90 1.21 296,772
PG Procter & Gamble Company (The) 82.99 0.59 0.72 8,597,543
GE General Electric Co 31.11 -0.23 -0.73 22,138,826
CVX Chevron Corporation 113.25 0.25 0.22 6,909,834
SO Southern Company (The) 46.87 0.11 0.24 5,009,956
PCG Pacific Gas & Electric Co. 58.38 0.10 0.17 2,864,227
TSLA Tesla Motors Inc. 186.80 5.33 2.94 4,072,373
LYV Live Nation Entertainment Inc. 27.33 0.26 0.96 766,753
JNJ Johnson & Johnson 111.94 -0.02 -0.02 5,451,568
WMT Wal-Mart Stores Inc. 69.94 -0.94 -1.33 10,527,889
AA Alcoa Inc. 31.22 2.18 7.51 7,034,136
INTC Intel Corporation 34.39 0.23 0.67 14,461,972
IBM International Business Machines Corp 159.84 -0.18 -0.11 3,447,052
DGI DigitalGlobe Inc 32.20 0.05 0.16 334,740
D Dominion Resources Inc. 73.48 -0.30 -0.41 2,851,263
NOV National Oilwell Varco Inc. 38.80 0.91 2.40 4,367,931
TRV The Travelers Companies Inc. 115.87 0.22 0.19 2,041,512
LXU LSB Industries Inc. 7.88 0.09 1.16 726,905
TUMI Tumi Holdings Inc. n/a n/a n/a 0
DF Dean Foods Company 20.11 0.91 4.74 1,410,434
EIX Edison International 69.74 0.34 0.49 2,705,358
PCLN The Priceline Group Inc. 1,499.76 26.76 1.82 350,208
JPM JP Morgan Chase 83.26 1.66 2.03 18,529,840
AXP American Express Company 72.03 0.17 0.24 3,929,106
AG First Majestic Silver Corp. (Canada) 9.66 -0.16 -1.63 6,773,626
UTX United Technologies Corporation 107.42 -0.80 -0.74 3,077,760
LMCA Liberty Media Corporation 31.21 0.54 1.76 346,210
MNST Monster Beverage Corporation 44.89 0.45 1.01 2,609,535
MYRG MYR Group Inc. 38.06 0.19 0.50 149,485
CSCO Cisco Systems Inc. 29.53 0.28 0.96 20,865,842
DIS Walt Disney Company (The) 99.96 1.46 1.48 11,331,543
VZ Verizon Communications Inc. 49.75 -0.06 -0.12 13,074,713
NWSA News Corporation 11.81 0.15 1.29 2,755,146
QTM Quantum Corporation 0.92 0.01 1.47 3,503,397
SCLN SciClone Pharmaceuticals Inc. 10.30 0.15 1.48 277,028
BAC Bank of America Corporation 21.84 0.61 2.87 130,384,476
MCD McDonald\'s Corporation 119.29 1.05 0.89 5,191,936
BT BT Group plc American Depositary Shares 22.69 -0.28 -1.22 562,351
CTL CenturyLink Inc. 24.19 0.27 1.13 9,987,060
DD E.I. du Pont de Nemours and Co. 72.89 -0.24 -0.33 3,432,101
KSS Kohl\'s Corporation 54.51 -0.21 -0.38 4,669,776
ATVI Activision Blizzard Inc 36.48 0.77 2.16 8,661,522
WR Westar Energy Inc. 56.72 0.31 0.55 443,541
ACCO Acco Brands Corporation 12.75 0.15 1.19 780,160
WIN Windstream Holdings Inc. 7.68 0.41 5.64 1,603,611
SIRI Sirius XM Holdings Inc. 4.33 0.03 0.70 47,752,652
HD Home Depot Inc. (The) 129.68 -0.19 -0.15 4,065,570
XOM Exxon Mobil Corporation 87.48 0.44 0.51 11,741,074
PFE Pfizer Inc. 31.59 -0.04 -0.13 19,300,328
MT ArcelorMittal 8.16 0.34 4.35 17,555,105
HPQ HP Inc. 15.55 0.43 2.84 11,538,522
BA Boeing Company (The) 152.16 -0.09 -0.06 2,855,946
UPL Ultra Petroleum Corp. n/a n/a n/a 0
MRK Merck & Company Inc. (new) 60.25 -0.88 -1.44 12,985,234
FE FirstEnergy Corporation 30.50 -0.07 -0.23 5,709,486
MU Micron Technology Inc. 18.61 -0.18 -0.96 26,635,763
KO Coca-Cola Company (The) 40.62 0.26 0.64 15,977,881
SNE Sony Corporation 28.14 0.08 0.29 941,335
T AT&T Inc. 38.63 0.02 0.05 20,773,441
FTK Flotek Industries Inc. 13.58 0.40 3.03 992,601
CAT Caterpillar Inc. 94.45 -0.69 -0.73 4,980,336
IPAR Inter Parfums Inc. 33.85 0.20 0.59 95,177
MSFT Microsoft Corporation 60.22 0.97 1.64 23,553,138
PANL Pangaea Logistics Solutions Ltd. 3.53 0.04 1.15 66,419

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