Stocks

Good News out of German Set to Lift Stocks

December 13, 2011 By Leave a Comment

Economic data out of Germany is lifting futures this morning. Economic sentiment in the largest EU economy rose for the first time in 10 months up from its lowest level since December of 2008. Dow futures are up 55 points, the Nasdaq is gaining 15.50 and the S&P is up 7.25.

This good news was followed up by a successful bond auction in Span which exceeded its target of 4.25 billion, selling 4.94 in bonds. This did little to ease the Italian yields which are still trading at unsustainable levels. The Euro climbed almost a percent up to 1.3198, up form its lowest level in 2 months. European blue chips were also up modestly, rising .63%.

The US markets are in a wait and see mode as the the Fed is expected to announce their last policy statement of 2011 today at 2:15pm EST. The broad consensus is that the statement will be a reaffirmation of plans announced earlier in the year. Low interests rates will be held through the middle of 2013 and there will not be an announcement of new asset buying – QE3.

Retail numbers are also expected to hit the street within the hour. Consensus expectations there are a modest rise of .6% after encouraging reports of brisk Black Friday sales.

Energy markets today are holding up after the sell-off yesterday. Crude oil is up just over half a percent while gasoline futures have jumped nearly a percent.

In European markets, the FTSE 100 is up .74% trading at 5468 and the German DAX is up .85% trading at 5834.

Stocks to watch today include YM BioSciences Inc. (AMEX:YMI), Repros Therapeutics Inc. (NASDAQ:RPRX), Clearwire Corporation (NASDAQ:CLWR), Netflix, Inc. (NASDAQ:NFLX), Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) and Urban Outfitters, Inc. (NASDAQ:URBN)

YM BioSciences Inc. (AMEX:YMI) is up 30.82% in pre market trading at $1.91. YMI has traded 143 thousand shares already this morning and trades 1.6 million shares a day on average. YMI is up early after the company reported updated results for Phase I/II study of CYT387, a drug used to treat myelofibrosis. YM Biosciences has a market cap of 170.40 million.

Repros Therapeutics Inc. (NASDAQ:RPRX) is up 17.22% in pre market trading at $5.99. RPRX trades around 40 thousand shares a day on average. The company announced late yesterday that data indicates Androxal(R) normalizes testicular function in men with type 2 diabetes. The company has a market cap of 62.94 million.

Clearwire Corporation (NASDAQ:CLWR) is up 2.35% in pre market trading at $2.18. CLWR has traded 179 thousand shares in early trading and trades 15.9 million shares a day on average. CLWR has traded slightly lower over the past few trading days dropping from a high of $2.50 last week to around $2.20 right now. Clearwire has a market cap of 1.95 billion.

Netflix, Inc. (NASDAQ:NFLX) is up 4.24% in pre market trading at $78.46. NFLX trades about 7 million shares a day on average. NFLX jumped 6% yesterday and is up nearly $8 over the past week. Piper Jaffray reiterated their rating of overweight for Netflix with a price target of $100 a share. Netflix has a market cap of 3.95 billion.

Apple Inc. (NASDAQ:AAPL) is up slightly in pre market trading at $393.95. AAPL trades 14.36 million shares a day on average. AAPL hasn’t seen a lot of movement over the past 5 trading days. The company has a market cap of 364.18 billion.

Amazon.com, Inc. (NASDAQ:AMZN) is down slightly in pre market trading at $188.54. AMZN trades 6.53 million shares a day on average. AMZN dropped yesterday with the overall market as the stock lost more than $3 per share. It did recover some towards the end of the day though. Amazon has a market cap of 86.19 billion.

Urban Outfitters, Inc. (NASDAQ:URBN) is up 12.62% in pre market trading at $29.80. URBN has traded over 31 thousand shares in early trading and trades 3.44 million shares on average every day. URBN shares are up today following an upbeat sales update from the company. The company has a market cap of 3.82 billion.

Filed Under: Blog, News, Stocks Tagged With: , , , , , , ,

NYSE Gainers In Midday Trading: VMC, DEXO, TXI, SLF, MSO

December 12, 2011 By Leave a Comment

The stock market is continuing its slide today as Moody’s said last week’s Europe deal will not deter it from issuing potential downgrades on some euro zone countries. In afternoon trading the Dow is down 211 points, the Nasdaq is down 45 points and the S&P is down 24 points.

There are stocks doing well today though, here’s a look at five NYSE stocks posting strong gains.

Vulcan Materials Company (NYSE:VMC) is up 16.27% at $39.01 in early afternoon trading. VMC has traded 7.2 million shares so far today, more than 6 times its daily average. Martin Marietta Materials offered a hostile bid of $4.7 billion for Vulcan Materials. Vulcan Materials has a market cap of 5.07 billion.

Dex One Corporation (NYSE:DEXO) is up 9.64% today at $1.5350. DEXO has traded 585 thousand shares so far today and trades 1.1 million shares a day on average. DEXO has been trading in a range between $1.35 and $1.65 over the past week. The company has a market cap of 76.35 million.

Texas Industries Inc. (NYSE:TXI) is up 5.26% in afternoon trading at $30.00. TXI has traded 1.2 million shares so far today and trades 422 thousand shares a day on average. TXI is up today on Vulcan’s news of a hostile bid for their company. Texas Industries has a market cap of 834.75 million.

Sun Life Financial Inc. (NYSE:SLF) is up 4.99% at $18.94 today. SLF has traded 1.8 million shares so far today, more than twice its daily average. Sun Life is up today after the new CEO outlined the company’s growth strategy. The company will close its domestic U.S. variable annuity and individual life products to new sales effective at the end of the year. The company has a market cap of 11.08 billion.

Martha Stewart Living Omnimedia Inc. (NYSE:MSO) is up 7.31% today at $4.70. MSO has traded 555 thousand shares so far today, more than double its daily volume average. MSO is continuing up today following the company’s deal with J.C. Penney last week. The company has a market cap of 260.16 million.

Filed Under: Blog, News, Stocks Tagged With: , , , , ,

Intel Cuts Revenue Outlook By $1 Billion

December 12, 2011 By Leave a Comment

Intel Corp. (NASDAQ:INTC) cut its sales outlook today causing the stock to fall 5.24% at $23.70. Intel expects sales of $13.7, give or take $300 million, in the fourth quarter. The company’s previous outlook was $14.7 billion, give or take $500 million.

Intel expects PC sales to rise in the fourth quarter, but “the worldwide PC supply chain is reducing inventories and microprocessor purchases as a result of hard disk drive supply shortages.”

“The company expects hard disk drive supply shortages to continue into the first quarter, followed by a rebuilding of microprocessor inventories as supplies of hard disk drives recover during the first half of 2012,” Intel said in a statement.

Other PC chip and PC makers were down today including Advanced Micro Devices (NYSE:AMD) down 5.14%, Dell Inc. (NASDAQ:DELL) down 3.42% and Hewlett-Packard (NYSE:HPQ).

Intel didn’t say how there hard drive shortage occurred, but the massive flooding in Thailand heavily impacted hard drive makers. The flooding caused one of the biggest hard drive makers Western Digital Corp. (NYSE:WDC) to shut down operations temporarily.

Intel expects their hard disk shortage to last into the first quarter, but should recover during the first half of 2012.

Filed Under: Blog, News, Stocks Tagged With: , , , , ,

Biggest Losers In Early Trading: DMND, ROSE, PZZI, CMED, WFR

December 12, 2011 By Leave a Comment

The stock market is taking a hit this morning as uncertainty on the euro debt crisis grows. The Dow, Nasdaq and the S&P are all down more than 1% this morning with the Nasdaq seeing the biggest percentage loss of 1.81%.

Here’s the biggest losers in early trading so far today.

Diamond Foods, Inc. (NASDAQ:DMND) is down 22.81% this morning at $31.31. DMND has traded 5.8 million shares this morning, well above its daily average 1.7 million shares. Diamond Foods is down today after the company announced it will delay filing its first-quarter results due to an ongoing investigation by its audit committee into the accounting for its walnut payments. The company has a market cap of 698.73 million.

Rosetta Resources, Inc. (NASDAQ:ROSE) is down 9.17% this morning at $45.92. ROSE has traded 833 thousand shares so far today and trades about 1 million shares a day on average. Rosetta is down today after disappointing well results. Rosetta Resources has a market cap of 2.39 billion.

Pizza Inn Holdings, Inc. (NASDAQ:PZZI) is down 8.11% this morning at $5.85. PZZI has traded 312 thousand shares today, more than double its daily average. PZZI has dropped more than $1 over the past 4 trading sessions. The company has a market cap of 47.26 million.

China Medical Technologies Inc. (NASDAQ:CMED) is down 6.40% at $2.78 so far today. CMED has traded 322 thousand shares this morning and trades 549 thousand shares a day on average. This is the third straight day CMED is in the red and has lost $0.50 over that span. China Medical has a market cap of 72.86 million.

MEMC Electronic Materials Inc. (NYSE:WFR) is down 9.05% at $4.02. WFR has traded 3 million shares so far today and trades 7.6 million shares a day on average. The company has a market cap of 926.47 million.

Filed Under: Blog, News, Stocks Tagged With: , , , , ,

5 Stocks Under $5 Rallying This Morning: OXGN, PRMW, ALIM, SIGA, PPHM

December 12, 2011 By Leave a Comment

Stocks opened down this morning as investors still have fears over the euro debt crisis despite last week’s agreement. Many people believe the agreement doesn’t address the larger European problem, the debt many nations have and their rising costs to borrow money. The major indices are down more than 1% this morning with the Dow down 156 points, the Nasdaq down 50 points and the S&P down 21 points.

Let’s take a look at 5 stocks under $5 that are rallying in early trading.

OXiGENE, Inc. (NASDAQ:OXGN) is up 28.71% this morning at $1.30. OXIGENE and Azanta A/S announced this morning they have established a partnership agreement to provide access to ZYBRESTAT for anaplastic thyroid cancer in Europe and Canada on a compassionate use basis. OXGN has traded 1.7 million shares this morning following this news. This is more than double its daily average volume of 603 thousand shares. The company has a market cap of 19.19 million.

Primo Water Corporation (NASDAQ:PRMW) is up 8.71% this morning at $3.37. PRMW has traded 493 thousand shares so far today and trades 558 thousand shares a day on average. PRMW stock is up about $0.50 a share since last Tuesday. Primo Water has a market cap of 79.92 million.

Alimera Sciences, Inc. (NASDAQ:ALIM) is up 14.29% in early trading at $1.60. ALIM has traded 332 thousand shares so far today, 50% more than its daily average. ALIM is up about $0.40 over the past 3 trading sessions. The company has a market cap of 50.60 million.

SIGA Technologies, Inc. (NASDAQ:SIGA) is up 6.17% this morning at $2.58. SIGA has traded 742 thousand shares this morning and is about to pass its daily average volume of 755 thousand shares. SIGA disclosed this morning they have received a $36 million payment from the Biomedical Advanced Research and Development Authority of the United States Department of Health and Human Services (BARDA). SIGA Technologies has a market cap of 132.66 million.

Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) is up 10.26% this morning at $1.29. PPHM has traded 788 thousand shares so far today, 100 thousand shares more than its daily average. Peregrine is set to announced earnings after the market close today. The company has a market cap of 103.40 million.

Filed Under: Blog, News, Stocks Tagged With: , , , ,

IPOs To Dominate This Week, Stocks to Watch: ERTS, BBY, GE, AMZN, MSFT, ATVI

December 12, 2011 By Leave a Comment

IPOs are set to dominate this week with big names including Zynga, Jive Software and Michael Kors Holdings all going public. Some of these companies could still delay their IPOs this week and some have citing market conditions. It will still be a busy week regardless for these new stocks.

Zynga is set to offer 100 million shares at a price range of $8.50 to $10 and could raise as much as $1 billion. If the company raises $1 billion it would be the largest Internet IPO since Google Inc. (NASDAQ:GOOG) in 2004.

Jive Software is offering 11.7 million shares between $8 to $10. The company is expected to begin trading on Tuesday.

Michael Kors Holding is a fashion design company and will offer about 42 million shares at a price range of $17 to $19.

Other companies going public this week include energy companies and tech companies.

Zynga’s IPO is likely to overshadow all the other IPOs and will see lots of investor attention on Monday.

Other stocks to watch on Monday include Electronic Arts (NASDAQ:ERTS), Best Buy Co., Inc. (NYSE:BBY), General Electric (NYSE:GE), Amazon.com Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT) and Activision Blizzard, Inc. (NASDAQ:ATVI)

Electronic Arts Inc. (NASDAQ:ERTS) closed Friday up 2.33% at $21.99. EA’s Battlefield 3 came in third for the November 2011 NPD Sales Numbers. Battlefield 3 sold at least 1.26 million copies last month. The company also unveiled the newest Command and Conquer game at Spike’s Videogame Awards Show over the weekend. Electronic Arts Inc. has a market cap of 7.29 billion.

Best Buy Co., Ltd. (NYSE:BBY) finished Friday up 2.52% at $28.11. BBY trades 6.02 million shares a day on average. Best Buy is set to release their earnings in pre-market on Tuesday. Analysts expect Best Buy to report revenue of $12.1 billion. The company has a market cap of 10.18 billion.

General Electric Company (NYSE:GE) closed Friday up 3.25% at $16.84. GE traded 85.74 million shares on Friday, 23 million more shares than the company trades on average. GE will be holding an investor outlook meeting on Tuesday. General Electric has a market cap of 177.79 billion.

Amazon.com, Inc. (NASDAQ:AMZN) closed Friday up 1.34% at $193.03. AMZN trades 6.53 million shares a day on average. AMZN closed last week down from a high of $198 a share. Amazon has a market cap of 87.78 billion.

Microsoft Corporation (NASDAQ:MSFT) finished Friday up 1.18% at $25.70. MSFT trades 51.05 million shares a day on average. Microsoft’s Xbox 360 was the highlight for November’s NPD numbers as the video game console sold 1.7 million units. Xbox 360 sales were up 23% year over year in November. The Xbox 360 also held four of the top 10 selling console games including: Call of Duty Modern Warfare 3, Elder Scrolls V: Skyrim, Assassin’s Creed: Revelations and Battlefield 3. Microsoft has a market cap of 216.19 billion.

Activision Blizzard, Inc. (NASDAQ:ATVI) closed Friday up 2.60% at $12.24. ATVI trades 13.05 million shares a day on average. Activision sold 9 million copies of Call of Duty: Modern Warfare 3 last month. The company has a market cap of 14.01 billion.

Filed Under: Blog, News, Stocks Tagged With: , , , , , , , , ,

Stock Futures Head South as the EU Summit Hangover Sets In. Stocks to Watch: LNG, AAPL, BAC, T, LMT, GM

December 12, 2011 By Leave a Comment

Futures in the US market are modestly negative this morning after Moody’s piled on with S&P saying that the credit ratings of several EU countries remained under pressure. This was announced after the IMF said over the weekend the EU summit deal was not enough to properly deal with the sovereign debt crisis.

The agreement on Friday was mostly medium term solutions set to address ballooning debt. Concerns for investors started to pop overnight after they realized their was little in the short-term to address skyrocketing debt financing costs. With no major economic data coming out of the United States all eyes continued to be focused on Europe and its near constant crisis state.

In addition to equities being weak, commodities also took a major hit in overnight trading. Gold was especially hard hit being down nearly 2%. Oil also followed the precious metals basket lower, dropping to 98.22 a barrel on economic slowdown concerns.

As of 8am EST the Dow Jones is off 85 points, the Nasdaq is shedding 14.75 and the S&P is set to give up 10 points.

Stocks to watch this morning include Cheniere Energy, Inc. (AMEX:LNG), Apple Inc. (NASDAQ:AAPL), Bank of America (NYSE:BAC), AT&T Inc. (NYSE:T), Lockheed Martin Corporation (NYSE:LMT) and General Motors Company (NYSE:GM)

Cheniere Energy, Inc. (AMEX:LNG) is up 6.62% at $10.15 in pre market trading. LNG trades 4.97 million shares a day on average. India’s state-run gas utility GAIL signed a pact with Cheniere Energy for supply of 3.5 million tonnes of liquefied natural gas annually. These deliveries will start in 2017. The company has a market cap of 788.67 million.

Apple Inc. (NASDAQ:AAPL) is down slightly in pre market trading at $392.01. AAPL trades 14.36 million shares a day on average. Since last Wednesday, AAPL stock has moved up from $388 a share to nearly $394 a share. Apple has a market cap of 365.83 billion.

Bank of America Corp. (NYSE:BAC) is down 1.75% in pre market trading at $5.62. BAC trades 272.26 million shares a day on average. BAC stock is under pressure this morning as the market is set to open lower. Whichever way the market heads, BAC is usually right behind it. BAC has had a decent move from around $5 two weeks ago to around $5.75 the past few days. The company has a market cap of 57.98 billion.

AT&T Inc. (NYSE:T) is down 0.41% in pre market trading at $28.91. T has trades 23.88 million shares a day on average. T traded mostly flat last week, only moving about $0.25 a share. AT&T has a market cap of 172.03 billion.

Lockheed Martin Corporation (NYSE:LMT) is down slightly in pre market trading at $77.22. LMT trades 2.72 million shares a day on average. Over the weekend there was news that Lockheed Martin received a $4 billion order from the U.S. military for the F-35. Lockheed has a market cap of 25.05 billion.

General Motors Company (NYSE:GM) is down 0.71% in pre market trading at $21.00. GM trades 12.24 million shares a day on average. GM’s European subsidiary, Opel, is expecting to make a profit of 1 billion euros in 2016. General Motors has a market cap of 33.09 billion.

Filed Under: Blog, News, Stocks Tagged With: , , , , , ,

Lockheed Martin (LMT) Awarded $4 Billion Contract For F-35 Aircraft

December 10, 2011 By Leave a Comment

Lockheed Martin Corp. (NYSE:LMT) is being awarded a $4 billion U.S. Navy Contract for 30 F-35 Strike Fighter aircraft. This is the fifth batch of low-rate initial production according to the Defense Department.

This deal would give 21 conventional models for the Air Force, six carrier variants for the Navy and three short-takeoff and vertical landing versions for the Marine Corps.

Company spokesman, Michael Rein, has said detalis of the deal have not been worked and referred to the government’s announcement as an “undefinitized contract action” subject to further negotiation.

“This is welcome news for both Lockheed Martin and our many F-35 suppliers and will help ensure we continue to meet production schedules outlined by the program,” he added.

The Pentagon plans to buy more than 2,440 F-35 aircraft in three different models for the various branches of the military. This will be the most expensive Pentagon purchase in history and is projected to cost $382.5 billion through 2035. The F-35 is being developed with eight foreign countries to replace at least 13 types of aircraft.

Shares of Lockheed Martin Corporation (NYSE:LMT) closed up 1.18% on Friday at $77.49. LMT traded 12 million shares on Friday and trades 2.7 million shares a day on average.

Filed Under: Blog, News, Stocks Tagged With: , , ,

Stocks Heading South Today: CTIC, PCYC, SPPI, PEIX, IVR

December 9, 2011 By Leave a Comment

While the stock market is rallying on the euro zone agreement, there are some stocks not doing well today.

Cell Therapeutics, Inc. (NASDAQ:CTIC) has fallen 15.22% today to $1.17. CTIC is down on heavy volume with 2.6 million shares traded so far. The company announced its agreement to sell $20 million in preferred stock shares and warrants at a conversion price of $1.15. The company has a market cap of 225.53 million.

Pharmacyclics Inc. (NASDAQ:PCYC) is down 14.16% today at $12.55. PCYC is falling today after the stock was downgraded by Global Hunter Securities. PCYC has traded 2.4 million shares so far today, nearly 4 times its daily average. The company has a market cap of 875.92 million.

Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) is down 8.85% today at $13.29. SPPI has traded 2.98 million shares this morning, well above its daily average of 1.48 million shares. Spectrum has a market cap of 763.52 million.

Pacific Ethanol Inc. (NASDAQ:PEIX) is down 7.12% at $1.20 today. PEIX announced $8 million in private placement his morning as well as agreeing to increase ownership. PEIX has traded 10.8 million shares so far today, 2 million more than its daily average. The company has a market cap of 91.75 million.

Invesco Mortgage Capital Inc. (NYSE:IVR) is down 6.86% so far today at $14.66. IVR has traded 4.7 million shares this morning, more than double its daily average. IVR was downgraded today by FBR Capital. The company has a market cap of 1.70 billion.

Filed Under: Blog, News, Stocks Tagged With: , , , ,

Stock In The Green This Morning: SIGA, DMND, SIRI, CLWR, MNI, MS

December 9, 2011 By Leave a Comment

Stocks are higher this morning after 23 European nations agreed to tie their economies closer together in hopes of preventing any future debt crisis. This new treaty will penalize budgetary offenders that threaten the euro zone. Germany and France were hopeful to persuade all 27 euro zone countries, but Britain and three others refused to join.

“It’s going to be the basis for a good fiscal compact and more discipline in economic policy in the euro area members,” Draghi said. “We came to conclusions that will have to be fleshed out more in the coming days.”

Let’s take a look at six stocks following the market up this morning.

SIGA Technologies, Inc. (NASDAQ:SIGA) is up 29.35% at $2.38 this morning. SIGA has traded 542 thousand shares so far today and trades 721 thousand shares a day on average. SIGA had been trading down most of the week, falling from over $2 to below $1.90. The company has a market cap of 118.26 million.

Diamond Foods, Inc. (NASDAQ:DMND) has rallied 22.67% at $32.42 so far this morning. DMDN is up on heavy volume with 941 thousand shares traded so far. The stock should have no problem passing its daily average volume of 1.4 million shares. DMND had been in a sell off this week, falling from $30 a share to below $27. The company has a market cap of 668.08 million.

Sirius XM Radio Inc. (NASDAQ:SIRI) is up 2.35% this morning at $1.74. SIRI has traded 9.9 million shares so far today. SIRI trades 68.6 million shares a day on average. SIRI is up today after an analyst with Citigroup gave it a buy rating with a price target of $2.20. Sirius XM has market cap of 6.51 billion.

Clearwire Corporation (NASDAQ:CLWR) is up 2.28% this morning at $2.23. CLWR has traded 6 million share so far today. The stock usually trades 11.2 million shares a day. The company has a market cap of 556.84 million.

The McClatchy Company (NYSE:MNI) jumped up 20.35% this morning at $2.07. MNI has traded 1.2 million shares this morning. MNI trades 951 thousand shares a day on average. MNI is up $0.80 in the past few days. The company has a market cap of 173.37 million.

Morgan Stanley (NYSE:MS) is up 5.42% this morning at $16.74. MS has traded 9.6 million shares so far today and trades 37.4 million shares a day on average. Morgan Stanley is following the market up today after a new treaty was agreed upon in Europe. The company has a market cap of 32.38 billion.

Filed Under: Blog, News, Stocks Tagged With: , , , , ,

Toyota (TM) Set To Lose Title Of World’s Top-Selling Automaker This Year

December 9, 2011 By Leave a Comment

Toyota Motor Corporation (NYSE:TM) is reeling from a strong yen, and the Thai floods that severely severed its supply lines this year. The world’s current top-selling automaker is poised to fall from that spot as the companies production capabilities have been devastated this year.

Toyota is expecting to be overtaken in sales this year by General Motors Company (NYSE:GM) and probably by Volkswagen AG.

“Toyota is hitting a trough,” said Cho Soo-Hong, auto analyst at Woori Investment & Securities in Seoul. “Its market share will recover next year with output normalization and new model launches, but I don’t expect too much from Toyota’s earnings as the yen is expected to remain strong because of appetite for safe-haven assets.”

Japan’s top automaker expects operating profit to fall 57% to 200 billion yen in the year to end-March, well below a consensus forecast of 419 billion yen in a survey of 23 analysts by Thomson Reuters I/B/E/S.

Toyota’s previous forecast of 450 billion yen, issued in August, was withdrawn last month after Thailand’s worst floods in 50 years cut off the supply of parts to Toyota’s factories in 10 countries. Toyota said the floods would effectively cost the company 230,000 vehicles in lost production this business year.

Toyota said the floods accounted for 120 billion yen of the downward revision to operating profit, while the yen’s strength, which makes exports less competitive and eats into overseas profits when brought back to Japan, cut another 190 billion yen.

Chief Financial Officer Satoshi Ozawa expressed deep frustration with the firm yen, which Tokyo has failed to weaken through intervention, warning that current exchange rates could threaten Japan’s very foundation as an export-driven economy.

“The revision is partly because Toyota’s exposure to currency swings is big, but I think it also brought to light the severity of the crisis Japan is in, because the country is founded on its export strength,” Ozawa told a news conference.

Shares of Toyota were trading at 67.07, down 0.09% at 9:37 am ET today.

Filed Under: Blog, News, Stocks Tagged With: , , ,

DuPont (DD) Revises Full-Year 2011 Outlook

December 9, 2011 By Leave a Comment

DuPont (NYSE:DD) revised its full-year 2011 outlook to $3.87 to $3.95 a share from a range of $3.97 to $4.05, excluding one-time items.

“We are seeing slower growth in certain segments during the fourth quarter, driven by global economic uncertainty. This uncertainty is contributing to ongoing conservative cash management in some supply chains,” said DuPont Chair and CEO Ellen Kullman.

The earnings revision reflects de-stocking across polymers and certain industrial supply chains that has accelerated during the fourth quarter. Consumer electronics demand has further softened, and housing and construction markets remain weak. Other markets remain as expected. Markets for DuPont’s agriculture and food businesses continue to be strong, including solid volume growth during the current Latin America summer season.

The conglomerate blamed the move on a host of factors, including softening demand for consumer electronics and a weak construction and housing market. The move follows Texas Instruments (NYSE:TXN), which cut its fourth-quarter sales and profit guidance after the close of trading on Thursday.

Founded in 1802 in Wilmington, Del., DuPont first produced high-grade black powder for explosives. DuPont has more than 8,500 scientists and engineers working across more than 75 research and development centers globally. Dupont employs approximately 67,000 workers worldwide. To date, DuPont has been awarded patents for more than 35,000 inventions.

DuPont’s shares were trading at 43.95, down 5.52% at 9:18 am ET today.

Filed Under: Blog, News, Stocks Tagged With: , ,
Real Time Web Analytics