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...]

Stock Futures Steady as Investors Look to Bernanke. Stocks to Watch: VVUS, SODA, CEDC, FSLR, AAPL, CERS, LIZ

Stock FuturesFutures are flat this morning as investors digest the results of European LTRO. Investors are also waiting for Bernanke’s testimony in front of the House Financial Services Committee. Dow futures are currently up 6 points to 13,003. Nasdaq 100 futures are up 2.25 points to 2,634. The S&P 500 futures are rounding out the flat trading, up .75 to 1,372.25.

Markets are choppy across the board today as everyone tries to understand just what the LTRO means for the broader economy. The ECB allotted 529 billion euros, which exceeded some expectations. The news that Ireland was planning on holding a referendum on the EU fiscal pact was also keeping the EU markets in check. The banking-heavy Stoxx 600 Europe it currently up .33%

Domestically, the Dow breaking the psychological barrier of 13k for the first time since 2008 is expected to be big news. Some analysts believe that it could accelerate the bull market as retail investors see the break and start to pile in. The also expect Bernanke’s testimony, GDP and PMI to bolster trading. The PMI numbers are slated for release at 9:45am EST. [Read more...]

Active Stocks In Pre Market Trading: DKS, LIZ, WSM, SIRI, DANG, JAG

Dick’s Sporting Goods Inc. (NYSE:DKS) is up 7.83% in pre market trading at $39.25. Investors are flocking to DKS after the company announced a share repurchase program worth $200 million. Dick’s also narrowed earnings guidance range and updated their same store outlook which according to the company have been affected by the mild winter. DKS trades 1.6 million shares on average. The company has a market cap of 4.39 billion.

Liz Claiborne, Inc. (NYSE:LIZ) is up 1.68% in pre market trading at $9.10. LIZ shares have bounced back yesterday after falling sharply on Tuesday when the company cut its outlook. LIZ trades nearly 4 million shares a day on average. The company has a market cap of 846.61 million.

Williams-Sonoma, Inc. (NYSE:WSM) is down 11.87% this morning at $34.45. WSM shares are getting hammered after the company cut its fourth quarter outlook because of deep holiday discounting. There was some good news though as the company raised its dividend by 29% and announced a $225 million stock buyback program. WSM trades 1.6 million shares a day on average and has a market cap of 4.02 billion.

Sirius XM Radio Inc. (NASDAQ:SIRI) is up 0.49% in pre market trading at $2.05. SIRI has been trading relatively flat now for a few days after seeing a nice pop after announcing a big increase in subscribers in 2011. SIRI has traded 120 thousand shares already in pre market and trades 53.6 million shares a day on average. The company has a market cap of 7.65 billion.

E-Commerce China Dangdang Inc. (NYSE:DANG) is down 2.17% this morning at $5.86 with 68 thousand shares traded so far. DANG could be due for a slight pull back as it has gone up more than $1.50 a share since late December. The company has a market cap of 474.82 million.

Jaguar Mining Inc. (NYSE:JAG) is up 4.69% in pre market trading at $7.15. JAG shares are up after the company said it has opened its books to potential buyers. They did say however that the review may not end in a transaction. JAG trades 2.3 million shares a day on average and has a market cap of 576.51 million.

Stocks in the Red Today: WBMD, LIZ, HMA, TIF, HGG

Even a lack of apocalyptic headlines out of Europe and a bullish outlook from Alcoa could not save these stocks. These are the stocks that were the most negative on the day.

WebMD Health Corp. (NASDAQ:WBMD) was among the most heavily hit stocks on the day. Dropping 28.53% on the day the stock was hammered out of the gate after it was announced the CEO had resigned. To add to the bad news the company also announced it had taken the company off the market. after it failed to attract a lucrative buyout offer. Sitting at $26.25 at close, WebMD has a market cap of $1.5 billion.

Liz Claiborne Inc. (NYSE:LIZ) closed the day down 12.99% to $8.64. Trading nearly five times its average volume LIZ started the day with a gap down and never recovered throughout the trading day. The company announced that the CFO was leaving and cut their 2012 outlook. This was all the traders needed on the street to send the stock reeling. LIZ also announced they were changing their name to Fifth and Pacific Co. Company execs said this was being done to better reflect the company’s diverse brand holdings. Sign Up For Our Free Weekly Newsletter

Health Management Associates, Inc. (NYSE:HMA) ended the day off more than 13% to $6.05. Volume on the stock was brisk with over 65 million shares changing hands. The stock opened with a severe gap down and managed to pare losses throughout the day. Currently the stock is up slightly in after-hours trading. News was released that the company’s general counsel had resigned and analysts were becoming increasingly worried about a lawsuit over medicare billing.

Tiffany & Co. (NYSE:TIF) gapped sharply lower today and finished the day down 10.46% to $59.93. Volume on the sell-off was sustained with over 15 million shares traded. The company was sent lower by news that TIF had cut its full year forecast.

hhgregg Inc. (NYSE:HGG) finished the day down 15.61% to $11.08. With 2.48 million shares changing hands the stock eclipsed its average volume by a factor of 5. The appliance and electronics retailer cut its fiscal year outlook and sees a weak Q3. The company blamed fierce promotional campaigns and competition from dropping margins.

Morning Losers: WBMD, HMA, LIZ, TIF, OCZ, PHH, HDY

WebMD Health Corp. (NASDAQ:WBMD) is down 29.05% this morning at $26.05. WBMD has traded 5.4 million shares so far today, well above its daily average of 1 million shares. WebMD shares are tanking today after its CEO resigned. The company has a market cap of 1.48 billion. Sign Up For Our Free Weekly Newsletter

Health Management Associates Inc. (NYSE:HMA) is down 20.69% today at $5.50. HMA has traded 29.6 million shares so far today, well above its daily average of 3.5 million shares. HMA shares are down for a second straight day and has lost more than $2 a share this week. The company has a market cap of 1.41 billion.

Liz Claiborne Inc. (NYSE:LIZ) is down 14.40% in early trading at $8.50. LIZ has traded 6.1 million shares so far today, more than double its daily average. LIZ shares are down after the company cut outlook and CFO leaves. The company has a market cap of 796.47 million.

Tiffany & Co. (NYSE:TIF) is down 11.94% today at $58.95. TIF has traded 7.3 million shares so far today and trades 2.3 million shares a day on average. TIF shares are fallign today after the company cut full year outlook on weak holiday sales. The company has a market cap of 7.54 billion.

OCZ Technology Group, Inc. (NASDAQ:OCZ) is down 9.75% this morning at $7.31. OCZ has traded 1.8 million shares today, above its daily average of 1.5 million shares. OCZ shares are down today after it misses by $0.01, but beats on revenue and guidance. The company has a market cap of 388.13 million.

PHH Corporation (NYSE:PHH) is down 6.95% today at $10.17. PHH has traded 3.4 million shares so far today, well above its daily average of 1.2 million shares. PHH shares are down after the company announced proposed offering of convertible senior notes. The company has a market cap of 573.01 million.

Hyperdynamics Corporation (NYSE:HDY) is down 8.20% this morning at $2.3550. HDY has traded 1.2 million shares today and trades 3.1 million shares daily on average. HDY shares have fallen about $0.60 a share over the past week. The company has a market cap of 374.52 million.

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