Market Off Highs as Manufacturing Data Disappoints, Stocks to Watch: DEXO, LIZ, GPS, BID, CIM, ADTN

Wall Street

Manufacturing Data

U.S. manufacturing growth in February causing investors to have some doubts about the state of the economic recovery. The Institute for Supply Management (ISM) said its index of national factory activity fell to 52.4 last month. Economists were expecting a reading of 54.5. Recently, manufacturing growth has been one of the bright spots for the U.S. economy. “The ongoing global challenges are part of what we’re seeing in the number today,” said Christopher Low, an economist at FTN Financial in New York.

Consumer Spending

Consumer spending only rose 0.2% in January, below analysts’ estimates. This number turned flat after adjusting for inflation. Consumer spending makes up a big chunk of the economy, so if that doesn’t begin to trend higher it will be difficult for the overall economy to recover. “Consumer spending is off to a pretty weak start in the first quarter,” said Keith Hembre, an economist at Nuveen Asset Management. “That along with the most recent durables goods is painting a pretty weak picture for first quarter GDP despite the strong jobs numbers.” [Read more...]

After Hours Movers: AMRN, CECO, GLUU, FNSR, BID, BSFT

Floor of the NYSEAmarin Corporation (NASDAQ:AMRN) is up 3.87% in after hours trading at $8.05. AMRN closed the day down more than 11% ahead of fourth quarter earnings. Amarin reported fourth quarter results after market close today. The company reported income of $18.3 million ($0.12 per share), compared to a net loss of $187.8 million ($1.82 per share) last year. The company has a market cap of 1.05 billion.

Career Education Corporation (NASDAQ:CECO) is up 2.78% in after hours trading at $8.86. CECO. CECO shares have fallen more than $3 a share in the past five trading days from over $12 to less than $9. The company’s most recent quarterly results saw revenue fall 17% to $440 million. The company posted an operating loss of $169 million. The company has a market cap of 653.86 million. [Read more...]

Notable Stocks With Earnings This Week: DISH, LDK, PCLN, SZYM, BID

Earnings season continues this week with many notable companies releasing quarterly results. Notable companies releasing earnings include DISH Network Corp. (NASDAQ:DISH), LDK Solar Co., Ltd (NYSE:LDK), priceline.com Incorporated (NASDAQ:PCLN), Solazyme Inc. (NASDAQ:SZYM) and Sotheby’s (NYSE:BID).

Dish Network Corp. (NASDAQ:DISH) will announce their earnings pre-market Monday and many investors will be watching closely. DISH bought Blockbuster earlier this year and in recent months have announced a new streaming service with Blockbuster. Dish Network is definitely trying to compete with the likes of Netfilx, Inc. (NASDAQ:NFLX) and DIRECTV (NASDAQ:DTV) DISH closed Friday down nearly 1% at $23.48 with over 4 million shares in volume.

LDK Solar Co., Ltd (NYSE:LDK) announces earnings pre-market Monday. LDK has been trading a bit lower recently after hitting an October high of around $4.53. LDK closed Friday up 3.5% at $3.77 with 1.3 million shares in volume. LDK has a current market cap of 533.32 million. LDK Solar is one of First Solar, Inc. (NASDAQ:FSLR) biggest competitors.

priceline.com Incorporated (NASDAQ:PCLN) announces earnings on Monday and analysts expect an EPS of $9.30. This EPS is on the high-end of the company’s guidance. PCLN closed Friday up more than 1% at $513.37. The stock is up about $80 since early October. PCLN has a current market cap of 25.55 billion.

Solazyme Inc. (NASDAQ:SZYM) releases earnings on Monday. SZYM has been in a steady uptrend so far this month, up over $1. The stock closed Friday up $0.63 at $9.91, a gain of 6.79%. SYZM traded less than half its average volume on Friday with 142 thousand shares traded. The stock has a market cap of 591.32 million. Solazyme’s main competitors are Amyris Inc. (NASDAQ:AMRS) and Gevo, Inc. (NASDAQ:GEVO).

Sotheby’s (NYSE:BID) releases earnings on Monday. These earnings will give investors valuable insights into how much consumers are spending at auction houses. This in turn can give people an idea of how the general economy is. While there is no arguing the general economy is not that great, if above-average income earners are spending less at auction houses then it shows that all aspects of the economy have slowed down. BID closed Friday up 0.60% at $35.11. The stock has a current market cap of 2.37 billion.

This week promises to be interesting with many companies reporting earnings. Plus the general uncertainty in Europe will continue to weigh heavily on investors.

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