Equities Sector Coverage: Stocks Stay Flat As Rally Cools

Sector Recap  |

The Dow Jones Industrial Average traded down to 13,517.81 then up to 13,582.12 in morning trading then consolidated this range in the afternoon. The NASDAQ traded down to 3169.41 then up to 3179.37 in morning trading then consolidated this range in the afternoon.

Asian stocks closed lower on Monday. The Nikkei 225 was closed at 9,124 – down 0.39%. The Hang Seng ended the day at 20,602 – down 0.27%. European exchanges traded lower on Tuesday. The FTSE 100 ended the day at 5,883 – down 0.18%. The DAX ended the day at 7,348 – down 0.76%. The CAC 40 ended the day at 3,513 – down 1.15%.

The yield on the 10-Year US Treasury declined from 1.840% to 1.777% back below the 200-day simple moving average at 1.829%. Comex gold traded down to $1753.2 the Troy ounce then rebounded to $1775.9. Nymex crude oil rebounded from $95.39 per barrel to $97.23 then declined to $95.11 trading back and forth around the 200-day simple moving average at $96.57. The euro versus the dollar declined from 1.3119 to 1.3032.

Energy

Clayton Williams Energy (CWEI) is a new Buy at Miller Tabak. Schlumberger (SLB) is begun with a Market Perform at William Blair. CARBO Ceramics (CRR) is lowered to Hold from Buy at Dahlman Rose. Marathon Petroleum (MPC), Phillips 66 (PSX), and Western Refining (WNR) are all now Neutral from Outperform at Credit Suisse.

Big Movers – Pacific Ethanol (PEIX) is down about 17%, Denison Mines (DNN) is up about 13.5%.
Dow components – Chevron (CVX) down 0.34%, Exxon Mobil (XOM) down 0.29%.
Energy Select Sector SPDR (XLE) was trading at $75.165 at 3:30 PM on Tuesday, down 1.09% on the day – up 8.73% year-to-date.

Materials

Intrepid Potash (IPI) is initiated with a Buy at Topeka. SilverCrest Mines (SVLC) is an Accumulate at Global Hunter. Alcoa (AA) is lowered to Hold from Buy at Jefferies. Randgold Resources (GOLD) gets downgraded to Hold from Buy at Stifel Nicolaus. Reliance Steel (RS) and Schnitzer Steel (SCHN) each reduced to Hold from Buy at Jefferies. Dow Components – Alcoa (AA) down 1.36%, DuPont (DD) down 1.08%. The Materials Select Sector SPDR (XLB) was trading at $37.64 at 3:30 PM on Tuesday, down 0.32% on the day – up 12.36% year-to-date.

Industrials

FedEx (FDX) beat estimates by 5 cents and revenue by $100M. The company sees FQ2 EPS of $1.30-$1.45 and full-year EPS of $6.20-$6.60. AO Smith Corp (AOS) is initiated with a Buy at Janney Capital. Pall Corp. (PLL) is lifted to Neutral from Underperform at Bank of America-Merrill Lynch. TASER International (TASR) is moved to Overweight from Neutral at JPMorgan. Dow components – Boeing Co (BA) down 0.46%, Caterpillar (CAT) up 0.50%, General Electric (GE) up 0.59%, 3M Company (MMM) down 0.53%, United Technologies (UTX) down 1.24%. The Industrial Select Sector SPDR (XLI) was trading at $37.56 at 3:30 PM on Tuesday, down 0.05% on the day – up 11.29% year-to-date.

Consumer Discretionary

Execs with Ford (F) are out in full force this week to drum up support for the new 2013 Ford Fusion. The automaker would like to rattle the dominance of rivals Toyota and Honda in the mid-size market with its fully redesigned Fusion entry to end a 15-year drought since it last had the best-selling car in the U.S. A plan by General Electric (GE) to put 85K workers on a high-deductible health care plan in order to lowers its mult-billion dollar health costs falls in line with the trend of other major corporations, but not with a painful side effect. Beazer Homes (BZH) is a new Neutral at Goldman Sachs. Bloomin’ Brands (BLMN) is a Hold at Deutsche Bank. Groupon (GRPN) gets picked up with a Neutral at Piper Jaffray. General Motors (GM) gets upgraded to Buy from Neutral at Buckingham. Lamar Advertising (LAMR) is upgraded to Conviction Buy from Neutral at Goldman Sachs. Bed Bath & Beyond (BBBY) is downgraded to Perform from Outperform at Oppenheimer. LVMH Moët Hennessy Louis Vuitton (LVMUY) is lowered to Neutral from Buy at UBS. Lumber Liquidators (LL) is downgraded to Underperform from Market Perform at Raymond James. Panera Bread (PNRA) is downgraded to Hold from Buy at Miller Tabak. WMS Industries (WMS) is slashed to Sell from Hold at Deutsche Bank. Dow Components – Disney (DIS) down 0.29%, Home Depot (HD) down 0.31%, McDonalds (MCD) up 0.82%. The Consumer Discretionary Select Sector SPDR (XLY) was trading at $47.274 at 3:30 PM on Tuesday, down 0.54% on the day – up 21.15% year-to-date.

Consumer Staples

Dole Foods (DOLE) will cash out of its worldwide packaged foods and Asia fresh produce businesses by selling them both to Itochu to the tune of $1.69B. Schiff Nutrition (SHF) reported FQ1 EPS of $0.20 (in-line), while beating revenue by $2M. L’Oreal (LRLCY) is lifted to Buy from Hold at Société Générale. Big Movers – China-Biotics (CHBT) is up about 60.5%, Energizer Holdings (ENR) is up about 11.5%. Dow components – Coca Cola (KO) up 0.83%, Procter & Gamble (PG) up 0.31%, Wal-Mart (WMT) up 0.03%. The Consumer Staples Select Sector SPDR (XLP) was trading at $36.07 at 3:30 PM on Tuesday, up 0.53% on the day – up 11.02% year-to-date.

Health Care

HeartWare (HTWR) is an Outperform at WallachBeth. Botox maker Allergan (AGN) is begun with a Buy at Guggenheim, which has new Neutrals on Mylan Labs (MYL) and Teva Pharmaceuticals (TEVA). Iris International (IRIS) is downgraded to Hold from Buy at The Benchmark Company. Abbott Labs (ABT) and Boston Scientific (BSX) are both lowered to Market Perform from Outperform at Leerink. Molina Healthcare (MOH) is moved to Underperform from Hold at Jefferies. Optimer Pharmaceuticals (OPTR) gets cut 180 degrees, to Underperform from Buy at Bank of America-Merrill Lynch. Big Movers – Cardiome Pharma (CRME) is up about 15.2%, AEterna Zentaris (AEZS) is up about 11.2%. Dow Components – Johnson & Johnson (JNJ) up 0.54%, Merck (MRK) up 0.25%, Pfizer (PFE) up 0.10%, United Health Group up 1.43%. The Health Care Select Sector SPDR (XLV) was trading at $40.01 at 3:30 PM on Tuesday, up 0.28% on the day – up 15.34% year-to-date.

Financial

Bryn Mawr Bank (BMTC) is begun with a Buy at Janney Capital. Cash America International (CSH) is downgraded to Hold from Buy at Jefferies. DFC Global (DLLR) is downgraded to Hold from Buy at Jefferies. Dow Components – American Express (AXP) down 0.95%, Bank of America (BAC) down 1.18%, JP Morgan Chase (JPM) down 0.38%, Travelers (TRV) down 0.12%. The Financial Select Sector SPDR (XLF) was trading at $16.04 at 3:30 PM on Tuesday, down 0.56% on the day – up 23.38% year-to-date.

Information Technology

Apple (AAPL) stock touched $700/share in after-hours trade Monday, charged with initial sales results for the iPhone 5 that exceeded expectations: Over 2 million pre-orders in the first 24 hours, twice what Apple logged for the iPhone 4S. No. 2 global PC maker Lenovo (LNVGY) makes its first software acquisition count, agreeing to buy Utah-based Stoneware to gain technology related to synchronizing data across mobile devices. Broadcom (BRCM) is upgraded to Outperform from Sector Perform at RBC Capital. Jive Software (JIVE) gets upgraded to Outperform from Market Perform with Wells Fargo. Manhattan Associates (MANH) is moved to Buy from Hold at ThinkEquity. OCZ Technology (OCZ) is upgraded to Buy from Hold at Craig Hallum. Rubicon Technology (RBCN) is raised to Buy from Hold at ThinkEquity. eBay Inc. (EBAY) is now Neutral from Buy at Compass Point. RBC Capital gives Sector Perform-from-Outperform ratings reductions to Dow component Intel (INTC), along with Analog Devices (ADI), Texas Instruments (TXN), and NVIDIA (NVDA). The analyst’s concerns include elevated inventory levels.
Big Movers – Velti PLC (VELT) is up about 11.9%, Advanced Micro Devices (AMD) is down about 9.5%.
Dow Components – Cisco Systems (CSCO) down 0.31%, Hewlett-Packard (HPQ) down 0.16%, IBM (IBM) down 0.14%, Intel Corp (INTC) up 0.04%, Microsoft (MSFT) down 0.08%. The Technology Select Sector SPDR (XLK) was trading at $31.59 at 3:30 PM on Tuesday, down 0.06% on the day – up 24.13% year-to-date.

Telecommunication Services

France Telecom (FTE) is taken to Neutral from Outperform by BNP Paribas. Big Movers – Clearwire (CLWR) is down about 9%.
Dow Components – AT&T (T) up 0.24%, Verizon (VZ) up 0.64%. The NASDAQ Telecommunications Index (IXTC) was trading at $199.84 at 3:30 PM on Tuesday, down 0.04% on the day – up 1.48% year-to-date.

Utilities

The Big Names – Dominion Resources (D) down 0.57%, Edison International (EIX) up 0.60%, First Energy (FE) up 0.05%, PG&E Corp (PCG) up 0.02%, Southern Company (SO) up 0.04%. The Utilities Select Sector SPDR (XLU) was trading at $36.17 at 3:30 PM on Tuesday, down 0.39% on the day – up 0.53% year-to-date.

STOCKS: CVX, XOM, AA, DD, BA, CAT, GE, MMM, UTX, DIS, HD, MCD, KFT, KO, PG, WMT, JNJ, MRK, PFE, AXP, BAC, JPM, TRV, CSCO, HPQ, IBM, INTC, MSFT, T, VZ, D, EIX, FE, PCG, SO, CWEI, SLB, CRR, MPC, PSX, WNR, PEIX, DNN, IPI, SVLC, AA, GOLD, RS, SCHN, FDX, AOS, PLL, TASR, F, GE, BZH, GRPN, GM, LAMR, BBBY, LVMUY, LL, PNRA, WMS, DOLE, SHF, LRLCY, CHBT, ENR, HTWR, AGN, MYL, TEVA, IRIS, ABT, BSX, MOH, OPTR, CRME, AEZS, BMTC, CSH, DLLR, AAPL, LNVGY, BRCM, JIVE, MANH, OCZ, RBCN, EBAY, INTC, ADI, TXN, NVDA, VELT, AMD, FTE, CLWR

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) 0.49 0.00 0.29 397,998
MMM 3M Company 195.86 4.15 2.16 2,746,603 Trade
PG Procter & Gamble Company (The) 91.42 0.78 0.86 9,100,592 Trade
GE General Electric Company 9.06 -0.08 -0.88 92,734,517 Trade
CVX Chevron Corporation 114.37 2.41 2.15 9,382,007 Trade
ABT Abbott Laboratories 71.42 0.90 1.28 9,404,453 Trade
SO Southern Company (The) 47.22 0.15 0.32 4,015,423 Trade
PCG Pacific Gas & Electric Co. 7.23 0.87 13.68 53,590,412 Trade
JNJ Johnson & Johnson 130.69 1.60 1.24 10,592,972 Trade
IPI Intrepid Potash Inc 3.19 0.03 0.95 442,560 Trade
AA Alcoa Corporation 29.27 -0.32 -1.08 6,601,167 Trade
INTC Intel Corporation 49.19 0.72 1.49 29,874,317 Trade
MANH Manhattan Associates Inc. 48.37 0.92 1.94 426,633 Trade
D Dominion Energy Inc. 68.77 -0.17 -0.25 4,149,653 Trade
TRV The Travelers Companies Inc. 124.01 1.07 0.87 1,923,862 Trade
TASR TASER International Inc. n/a n/a n/a n/a
EBAY eBay Inc. 31.00 0.62 2.04 13,839,748 Trade
ADI Analog Devices Inc. 91.36 2.55 2.87 3,471,566 Trade
MPC Marathon Petroleum Corporation 66.09 0.30 0.46 5,746,118 Trade
KN.W Knowles Corp n/a n/a n/a 0 Trade
EIX Edison International 54.88 1.37 2.56 3,069,141 Trade
CSH Cash America International Inc. n/a n/a n/a 0 Trade
WMS Advanced Drainage Systems Inc. 25.40 0.30 1.20 488,250 Trade
BZH Beazer Homes USA Inc. 11.62 -0.20 -1.69 228,693 Trade
AXP American Express Company 100.48 0.99 1.00 9,872,459 Trade
UTX United Technologies Corporation 113.90 1.13 1.00 4,636,159 Trade
HTWR Heartware International Inc. n/a n/a n/a 0 Trade
NVDA NVIDIA Corporation 156.93 5.21 3.43 16,283,423 Trade
TXN Texas Instruments Incorporated 99.42 1.88 1.93 6,677,152 Trade
AMD Advanced Micro Devices Inc. 20.77 0.52 2.57 88,130,950 Trade
PSX Phillips 66 95.30 1.88 2.01 4,014,857 Trade
CSCO Cisco Systems Inc. 45.03 0.82 1.85 24,416,514 Trade
AGN Allergan plc 160.22 3.66 2.34 2,891,019 Trade
CRR Carbo Ceramics Inc. 4.90 0.17 3.59 280,898 Trade
BSX Boston Scientific Corporation 37.69 0.88 2.39 9,464,760 Trade
RS Reliance Steel & Aluminum Co. (DE) 78.42 1.16 1.50 297,393 Trade
VZ Verizon Communications Inc. 57.09 0.26 0.46 16,802,516 Trade
LAMR Lamar Advertising Company 74.16 -0.69 -0.92 338,777 Trade
GM General Motors Company 38.61 0.35 0.91 10,494,113 Trade
BAC Bank of America Corporation 29.30 0.31 1.07 97,928,158 Trade
MCD McDonald's Corporation 182.57 1.46 0.81 3,497,959 Trade
BBBY Bed Bath & Beyond Inc. 14.73 0.14 0.96 11,434,113 Trade
CRME CORV Minefinders Corporation Ltd. n/a n/a n/a n/a
RBCN Rubicon Technology Inc. 8.20 0.01 0.12 1,534 Trade
PEIX Pacific Ethanol Inc. 1.13 0.05 4.63 360,266 Trade
CWEI Clayton Williams Energy Inc. n/a n/a n/a 0 Trade
AEZS AEterna Zentaris Inc. 3.54 -0.26 -6.84 394,372 Trade
F Ford Motor Company 8.58 0.22 2.63 51,127,860 Trade
PFE Pfizer Inc. 42.53 0.06 0.14 36,639,882 Trade
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares 18.82 0.06 0.32 4,853,214 Trade
FDX FedEx Corporation 176.91 3.64 2.10 3,072,070 Trade
HPQ HP Inc. 21.75 0.52 2.45 10,827,274 Trade
MRK Merck & Company Inc. (new) 75.87 0.27 0.36 14,294,582 Trade
AOS A.O. Smith Corporation 48.01 1.53 3.29 1,668,933 Trade
GRPN Groupon Inc. 3.79 0.06 1.61 4,052,887 Trade
BMTC Bryn Mawr Bank Corporation 38.00 0.38 1.01 207,124 Trade
ENR Energizer Holdings Inc. 46.84 0.01 0.02 1,116,621 Trade
FE FirstEnergy Corp. 38.87 0.16 0.41 3,806,437 Trade
BRCM Broadcom Corp. n/a n/a n/a 0 Trade
KO Coca-Cola Company (The) 47.61 0.55 1.17 12,760,779 Trade
T AT&T Inc. 30.96 0.32 1.04 43,249,105 Trade
CAT Caterpillar Inc. 136.60 2.92 2.18 6,122,435 Trade
SCHN Schnitzer Steel Industries Inc. 24.03 0.29 1.22 419,828 Trade
LL Lumber Liquidators Holdings Inc 11.54 0.21 1.85 479,946 Trade
SLB Schlumberger N.V. 44.73 3.36 8.12 26,638,570 Trade
MOH Molina Healthcare Inc 136.96 1.56 1.15 575,808 Trade
MYL Mylan N.V. 29.59 0.04 0.14 3,881,045 Trade
MSFT Microsoft Corporation 107.71 1.59 1.50 37,427,587 Trade
WMT Walmart Inc. 97.73 0.99 1.02 6,120,643 Trade
IBM International Business Machines Corporation 123.82 1.63 1.33 6,008,509 Trade
AAPL Apple Inc. 156.82 0.96 0.62 33,751,023 Trade
JPM JP Morgan Chase & Co. 104.59 1.67 1.62 16,428,710 Trade
DIS The Walt Disney Company 111.04 0.03 0.03 8,554,673 Trade
HD Home Depot Inc. (The) 179.58 4.71 2.69 6,371,422 Trade
XOM Exxon Mobil Corporation 72.99 0.86 1.19 15,759,166 Trade
BA The Boeing Company 364.73 5.64 1.57 4,256,505 Trade

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Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

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