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Stock Market News for June 9, 2010 - Market News
Wednesday, June 9, 2010 - 10:15am | 618It seems nauseating churns have become a trend. A volatile last-hour trading Tuesday sent stocks higher, helping markets end a two day-slump as Federal Reserve Chairman Ben Bernanke noted the economy’s return to recession was unlikely. In the final minutes of trading, the Dow industrials jumped...
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10 Stocks With Special Dividend Potential
Wednesday, June 9, 2010 - 7:56am | 445NEW YORK (TheStreet) -- Special dividends are attractive to companies with cash to spare and high levels of inside ownership, and TheStreet has identified ten stocks with strong potential to take the plunge in 2010. A heavy insider presence is a factor right now because these payments represent a...
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SPX Resistance 1070 06-08-2010
Tuesday, June 8, 2010 - 6:39pm | 689Cusick’s Corner The market hung around support, 1050 on the SPX, and wedged through to the upside to finish in the green. Watch resistance, looks to be at the 1070 mark on the S&P because we still have not seen any relative strength in the small caps, RUT. This small bullish divergence today...
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Watch SPX Key Support 1050 06-08-2010
Tuesday, June 8, 2010 - 4:07pm | 774Cusick’s Corner Small Caps like the RUT and bigger sectors like Financials and Energies are continuing to pullback -- longs into the Midday are looking pretty beat up. The market action can generally be described as some small buying on new lows, then the market recovers and at the end of a...
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Put Action Heats Up in Diamond Offshore (DO)
Tuesday, June 8, 2010 - 12:11pm | 135Shares of Diamond Offshore Drilling Inc. (NYSE: DO) are lower on the session by 6.06%, currently trading $55.62. The stock is falling sharply today on news that one of its oilrigs in the Gulf of Mexico is leaking. Options traders are coming after puts fast and furiously. The June $58.60, 56.80, 54...
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Goldman Downgrades Deep Water Drillers (HAL, ESV, NBR, DO, ATW)
Tuesday, June 8, 2010 - 9:22am | 198Goldman Sachs is out with an analyst note this morning where they lower their coverage view on the Deep Water Drilling Sector to Neutral from Attractive. They cited three factors: (1) We think that the current six-month moratorium on DW drilling in the US could be extended and now assume that it...
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Energy Sector Soaring High Today, Momentum Led By BP, CHK
Monday, June 7, 2010 - 3:57pm | 258Energy stocks posted gains on the Wall Street today, erasing some of their huge losses of Friday. BP PLC (NYSE: BP) and Chesapeake Energy Corp (NYSE: CHK) led the sector’s momentum. The NYSE Arca Oil Index (XOI) climbed 1.4% to 928, the NYSE Arca Natural Gas Index (XNG) jumped 1.6% to 514 and the...
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Oil Roundup (RIG, SLB, APC, APA, NE)
Friday, June 4, 2010 - 1:37pm | 165Some oil related stocks have been among the better performers today, compared to the broader market, after getting crushed over the last month. Shares of Transocean (NYSE: RIG) are down 0.72% to $50.71. The stock has lost 30% of its market cap in the last four weeks. Oil services name Schlumberger...
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Don’t Write-Off Oil Stocks Yet; Barron’s (BP, RIG, HAL, RDC)
Friday, June 4, 2010 - 11:15am | 144The Gulf of Mexico oil spill has adversely affected stocks of oil companies. Though no one believes that underwater drilling can stop completely, stocks of oil companies have been affected by the event. According to Barron’s, the stocks directly related to the oil spill, i.e. BP (NYSE: BP),...
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Benzinga’s Top Downgrades (X, NLC, HOS, HWD, NE)
Friday, June 4, 2010 - 10:28am | 183US Steel (NYSE: X) was downgraded by Goldman from “conviction buy” to “buy.” Shares of X fell 1.22% to $45.28 by 9:02 am. X’s earnings are expected to fall by 158.02% this year. JP Morgan downgraded Nalco (NYSE: NLC) from “overweight” to “neutral.” NLC’s shares rose 0.64% to $22.15 by 9:02 am. NLC...
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Weeden Upgrades NBR To Buy
Friday, June 4, 2010 - 7:48am | 38Analysts at Weeden upgrade Nabors Industries (NYSE: NBR) from "hold" to "buy." NBR’s shares closed at $20.59 yesterday. More Analyst Ratings here
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Sellers Packed Up Their Tents 06-03-2010
Thursday, June 3, 2010 - 6:48pm | 725Cusick’s Corner While the market challenges long-term resistance, 200-Day Moving Average SPX 1105.5, traders are waiting for tomorrow’s Unemployment number which is estimated at 500K. This rally is in the face of a declining Euro and bullish EU market, a potential indicator that the sellers have...
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Guy Adami Is Looking At RIG
Thursday, June 3, 2010 - 2:35pm | 106Guy Adami said on CNBC's Fast Money Halftime that he likes Transocean LTD (NYSE: RIG) as a short term buy. He sees a technical double bottom in Transocean (RIG) and thinks it might jump 5% to 8% from current levels. Earlier today, JPMorgan (NYSE: JPM) warned investors to stay away from this name....
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Contract Backlog Of DO, NE, RIG At Risk: Citigroup
Thursday, June 3, 2010 - 1:52pm | 244The Minerals Management Service has announced a six-month moratorium on deepwater drilling in the Gulf of Mexico on May 30, “an action that appears to have created a force majeure situation with respect to deepwater rig contracts.” Citigroup has “estimated ‘at risk’ contract backlog for Diamond...
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Thursday Morning’s Options Volume Leaders (C, BAC, RIG, AAPL, BP, SPY)
Thursday, June 3, 2010 - 11:13am | 134The market is posting another gain today with the S&P 500 (NYSE: SPY) currently trading higher by 5 points to 1,102. If the market can hold these gains, a new bull formation will be confirmed, giving potential for a push higher to, at least, the 1,150 level. Here are your Options Volume...