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Confused Yet??
Tuesday, July 20, 2010 - 9:34pm | 839So like most traders I went home Monday night and did my homework. I ripped through charts, watched some of the price action after the earnings in IBM and Texas Instruments(TXN), and how the markets were digesting this news. I wrote down some preliminary plays for the next day and went to bed...
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Late Pop Impressive 07-20-2010
Tuesday, July 20, 2010 - 7:12pm | 705Cusick’s Corner This nice pop into the After Hours is impressive. Almost every sector is up and bouncing off mid-term support (50-Day Moving Average) and on decent volume, but be careful not to get too caught up in the emotion of this move. The afternoon move started to look more like a potential...
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Biogen Tops, Raises Forecast - Analyst Blog
Tuesday, July 20, 2010 - 4:10pm | 849Biogen Idec Inc. (BIIB) reported second-quarter earnings per share of $1.27, well above the Zacks Consensus Estimate of $1.08 and the year-earlier figure of 73 cents. Excluding the impact of stock-based compensation expense, second quarter 2010 earnings came in at $1.31 per share. Performance was...
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Goldman Sachs Posts Gains (GS)
Tuesday, July 20, 2010 - 4:04pm | 88Goldman Sachs (NYSE: GS) reported earnings this morning. The Wall Street firm posted EPS of $2.75 compared to analysts' estimates of $2.08. Year over year revenues fell 30.8%. The stock opened lower, but rallied throughout the day and finished Tuesday's trading session 2.22% higher at $148.91. The...
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Week-To-Date ETF Leaders and Laggards: PMA, KRE, MOT, GS, WTNY, FCF, KRE, PMA, KBE, OIH
Tuesday, July 20, 2010 - 4:03pm | 224According to ETFChannel.com, the Active Mega Cap Fund ETF (PMA) is outperforming other ETFs this week, up about 4.6%. Components of that ETF showing particular strength this week include shares of Motorola (MOT), up about 11% so far, and shares of Goldman Sachs (GS), up about 6.4% on the week. And...
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Doug Kass Has Sold The Rest of His Goldman Sachs Trade
Tuesday, July 20, 2010 - 2:22pm | 47Doug Kass has sold the rest of his Goldman Sachs (NYSE: GS) trade. Doug Kass tweeted, "+$6 is enough for me in a few hours." See Doug Kass's other trades here.
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"Fabulous Fab" Says He Relied on on Goldman, Denies Fraud Claims (GS)
Tuesday, July 20, 2010 - 2:21pm | 165"Fabulous Fab" Fabrice Tourre, the Goldman Sachs (NYSE: GS) executive director who is being sued by the Securities and Exchange Commission for fraud, said the claims are false and that he relied on Goldman's legal and compliance department according to a report from Bloomberg. In a filing...
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Late Market Roundup (TXN, NOK, GS, AAPY, PEP)
Tuesday, July 20, 2010 - 1:17pm | 278Shares of Texas Instruments (NYSE: TXN) moved down after the company posted a three-fold rise in its Q2 profit, while its revenue for the same period missed Wall Street expectations, with Nokia Corp (NYSE: NOK) reporting weaker-than-expected sales. The Philadelphia Semiconductor Index (SOX) also...
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Afternoon Market Update (JNJ, LAB)
Tuesday, July 20, 2010 - 1:01pm | 227Shares of Johnson & Johnson (NYSE: JNJ) moved down after the company lowered its earnings projection for 2010 to a range of $4.65 - $4.75 per share, as compared to its earlier forecast of $4.80 - $4.90 per share. The company reported a 7.5% y/y rise in its Q2 net income. JNJ’s shares dipped...
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Market Update: U.S. Equities Slide, Commodities Gain (SPY, GLD, USO)
Tuesday, July 20, 2010 - 1:00pm | 125U.S. equities are trading down early this afternoon, as weak corporate earnings from Goldman Sachs (NYSE: GS) and IBM (NYSE: IBM) weighed on markets. The SPDR S&P 500 ETF (NYSE: SPY) is down 0.5% today. Commodities are gaining in a flight to safe assets. Gold is up $8 to $1190 an ounce. The...
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Markets Fight Back From Steep Losses
Tuesday, July 20, 2010 - 11:40am | 262The markets gapped lower on the back of earnings from International Business Machines Corp. (NYSE: IBM), Texas Instruments Incorporated (NYSE: TXN) and Goldman Sachs Group, Inc. (NYSE: GS). While the earnings of all these companies came in better than expected, the common theme of a miss on...
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S&P Wreaking Havoc On Bears
Tuesday, July 20, 2010 - 11:40am | 233Today Mr. Market has been utterly ruthless on the bears. We gap way down on not-so-great earnings from Goldman (GS), IBM (IBM), and Texas Instruments (TXN), and despite those efforts the bulls manage to, once again, go on a buying spree off of the lows. I warned of a possible gap fill from this...
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Euro Falls From 2-Month High Against Dollar (FXE, UUP)
Tuesday, July 20, 2010 - 11:34am | 169The Euro retreated from a 2-month high against the dollar Tuesday, as investors took profit ahead of European bank stress test results. The Euro is at $1.290 in mid-morning trade. "We've just seen a decent round of profit-taking. There is concern about the stress tests results," said John McCarthy...
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Is It Time To Buy Into The SPDR Gold ETF? (NYSE:GLD)
Tuesday, July 20, 2010 - 10:54am | 345“An intermediate correction has temporarily interrupted the price of gold and a correction is now underway. The SPDR Gold Trust ETF (NYSE: GLD) – This Exchange-Traded Fund (ETF) seeks to(...)Read the rest of Is It Time To Buy Into The SPDR Gold ETF? (NYSE: GLD) Copyright 2010 ETFDAILYNEWS.COM The...
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Stock Market News for July 20, 2010 - Market News
Tuesday, July 20, 2010 - 10:40am | 574Some optimism returned to the Street on Monday after Friday’s hammering, helping stocks post modest gains even as investors confronted some conflicting signals about the economic recovery and mixed earnings reports. However, even as demand for riskier assets rose, investors proceeded with caution...