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Mixed Economic News 06-25-2010
Friday, June 25, 2010 - 2:59pm | 682Cusick's Corner It’s been a choppy session but major markets are a bit higher now amid the news that a financial reform deal was made overnight. Overall economic fears are still weighing on the market. In the morning, GDP came in worse than expected, which was later counter balanced by Consumer...
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Calls Purchased on Saks Inc. (SKS)
Friday, June 25, 2010 - 2:15pm | 108Shares of Saks Inc. (NYSE: SKS) are higher on the session by 3.37%, currently trading at $8.28. The stock has been gyrating lower over the past two months and is now in a technical downtrend. Options traders are betting on a bit of rally today. The August $10 call was purchased 1,935 times, on the...
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Time To Get Short Retail (XRT, JWN, M, BBBY, ANF)
Tuesday, June 22, 2010 - 3:33pm | 211Today's market action is suggesting that U.S. equity indices are beginning to break down, as leading indicators are increasingly pointing to the likelihood of a double dip recession. The number that the market was focusing on today was existing home sales, which were very disappointing. The...
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Stock Market News for June 22, 2010 - Market News
Tuesday, June 22, 2010 - 9:51am | 608Beijing’s weekend promise of a more flexible renminbi invigorated markets across the globe but absence of clear-cut details in China’s pledge had Wall Street wiping off strong early-morning gains in a late-day slide. The Dow average closed down 8 points, after having risen as much as 143 points in...
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Stocks To Watch For June 18 (SUN, THC, BP, SKS)
Friday, June 18, 2010 - 6:46am | 342Some of the stocks that may grab investor focus today are: Standard & Poor's Ratings Services is likely to downgrade the rating of Sunoco (NYSE: SUN), as the company is planning to separate its SunCoke Energy unit from its business. Patrick Jeffrey, an S&P credit analyst, mentions, "We...
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Late Market Roundup
Thursday, June 17, 2010 - 3:38pm | 222The Treasury has announced that it will sell $108 billion in notes next week, down from $118 billion during April. The sale will start from June 22 with $40 billion in 2-year notes and will involve $38B in 5-year notes to be sold on June 23. The last day of the sale will involve $30 billion in 7-...
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Bleak Housing Starts Data Leads Retail Sector In The Red Today
Wednesday, June 16, 2010 - 2:14pm | 189Retail stocks dropped today on news of the US home builders curbing construction beyond expectations. It triggered further anticipation that construction materials and home related products’ demand may be adversely affected. The S&P Retail Index (RLX) inched up 1.27%, to 441.69 by 12:48 pm....
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Inverted Hammer-time Remix 06-10-2010
Thursday, June 10, 2010 - 6:59pm | 766Cusick’s Corner As I wrote on June 8th, typically the market action of late can generally be described as some small buying on lows, followed by a market recovery and then the market usually just gets pounded at the end of the day. Well, not today. The market actually ended on an upswing. As...
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JCPenney SVP to Present at Piper Jaffray Consumer Conference (JCP)
Friday, June 4, 2010 - 5:26pm | 229J. C. Penney Company, Inc. (NYSE: JCP) announced that James Kenney, Senior Vice President of Corporate Strategy and Investor Relations, will present at the Piper Jaffray 30th Annual Consumer Conference in New York on June 9, 2010. The presentation, which will be available via webcast, is scheduled...
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Retail Stock Roundup (BBY, JWN, ANF, M)
Friday, June 4, 2010 - 3:28pm | 203A huge sell off has swept over Wall Street today, sending the Dow Jones Industrial Average plummeting 300 points to 9,956 with about a half hour left during the trading week. Retail stocks were among the market leaders during the run up in share prices over the last year, but are among the biggest...
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Confirmation
Wednesday, June 2, 2010 - 7:50pm | 446Coming into the day my trading plan was short bias for the markets due to the sell off during the last hour of trading and to sell weak stocks such as Halliburton (HAL),AK Steel (AKS), Dow Chemical (DOW) and Macy’s (M); as you can see HAL and AKS open higher than yesterdays low and continued with...
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Morgan Stanley Upgrades M To Overweight
Tuesday, June 1, 2010 - 6:42am | 43Analysts at Morgan Stanley upgrade Macy's (NYSE: M) from "equal weight" to "overweight." M’s shares moved up 0.73% to close at $22.21 on Friday. More Analyst Ratings here
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S&P's Best Performers for the Past Month
Thursday, May 27, 2010 - 11:54am | 179While the market has taken an absolute killing this past month, I thought it would be interesting to see just who has managed to weather the storms the best. In all 20 companies are trading in the green this month. Everyone else is getting shalacked! May God be with you if you happen to own...
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Patrick Dunkerley Believes Macy's, CBS Will Gain From Economic Recovery
Thursday, May 27, 2010 - 6:51am | 230KANSAS CITY, Mo. (TheStreet) -- Shares of Macy's (NYSE: M) and CBS (NYSE: CBS) will likely rise as the economy improves, says Patrick Dunkerley, manager of the Scout Mid Cap Fund (UMBMX). The $160 million fund, which has earned five stars from Morningstar(NASDAQ: MORN), has returned 35% during the...
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Deutsche Bank Reiterates Buy Rating for J.C. Penney Company
Wednesday, May 26, 2010 - 4:33pm | 173After hosting JC Penney (NYSE: JCP) CFO Bob Cavanaugh and SVP Jim Kenney, Deutsche Bank was optimistic on the company's stock outlook. JCP's management "described a broad based slowdown in consumer spending since Easter. This may reflect more appointment-based shopping, and Penney's BTS...