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The Closing Bell: Housing Kills the Rally (ADBE, MSFT, BRCD, IBM)

Posted Sep 22nd 2010 4:20PM by Douglas McIntyre (RSS feed)
Filed under: After the Bell, Major Movement, Microsoft (MSFT), Adobe Systems (ADBE), S and P 500, DJIA, NASDAQ

The Federal Housing Financial Agency reported home prices reached their lowest point in nearly six years. For the twelve months ending in July, the drop was 3.3% compared to the same period a year earlier. The news set a negative tone, and the market was down all day.

Worried investors poured money into gold after a Fed report yesterday showed worrisome data on the economy. The metal hit $1,290 an ounce and may stay in all-time high record territory if fears about GDP expansion spread. Although it was a down day, the markets showed little damage at the close.

Today's closing bell numbers:

Dow Jones 10,739.31 -21.72 (-0.20%)
S&P 500 1,134.27 -5.51 (-0.48%)
Nasdaq 2,334.55 -14.80 (-0.63%)

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Analyst Calls: ADBE, AXP, BAX, COST, DLB, FDX, HOT, NOK, NVS, TWX ...

Posted Sep 22nd 2010 11:30AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Time Warner (TWX), Nokia Corp. (NOK), Adobe Systems (ADBE), American Express (AXP), Novartis AG ADS (NVS), Costco Wholesale (COST), FedEx Corp (FDX), United Parcel'B' (UPS), Starwood Hotels Worldwide (HOT), Analyst Initiations

Analyst Upgrades

  • Soleil upgraded Baxter (BAX) to buy from hold on expectations the company will benefit from supply disruptions at privately-held plasma manufacturer Octapharma. The firm raised its price target for shares to $56 from $45.
  • Deutsche Bank upgraded Dolby (DLB) to buy from hold, citing valuation following the recent underperformance of shares. The firm upped its price target to $75 from $70.
  • Bernstein upgraded Alexion (ALXN) to outperform from market perform based on increased Soliris forecasts for PNH and potential in aHUS. The firm also raised its price target to $75 from $60.
  • Agrium (AGU) was upgraded to buy from neutral at BofA/Merrill.
  • Roche (RHHBY) was upgraded to conviction buy from neutral at Goldman.
  • BMO Capital upgraded Energizer (ENR) to outperform from market perform.

Continue reading Analyst Calls: ADBE, AXP, BAX, COST, DLB, FDX, HOT, NOK, NVS, TWX ...

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Adobe Earnings: Market Not Pleased with Guidance

Posted Sep 22nd 2010 9:00AM by Steven Mallas (RSS feed)
Filed under: Earnings Reports, Adobe Systems (ADBE), Technology

Adobe (ADBE)Adobe Systems (ADBE) was not a popular equity in Tuesday's after-hours session. The company closed down well over 15% to $27.76. The fiscal third-quarter report was the catalyst. Well, it wasn't so much the income number as it was the guidance.

According to the Associated Press, adjusted profit of 54 cents per share beat the analyst projection of 49 cents per share. Unfortunately, the next quarterly report could bring a disappointing top line. Management thinks it will do between $950 million and $1 billion in terms of sales; Wall Street wanted a solid $1.03 billion. In addition, Bloomberg says that the company is expecting between 48 cents and 54 cents per share of adjusted earnings for Q4; expectations were for 53 cents per share.

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The Week in Preview: Housing Data, Lennar's Earnings and More

Posted Sep 19th 2010 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings Reports, Forecasts, Adobe Systems (ADBE), AutoZone Inc (AZO), Lennar Corp'A' (LEN), Economic Data, Housing

housing sales housing startsHousing steps into the spotlight again this coming week. The release of the National Association of Homebuilders Housing Market Index starts out the week on Monday morning. Then on Tuesday morning, look for housing starts data from August. Release of the July FHFA House Price Index is scheduled for Wednesday. And numbers for existing home sales and for new home sales in August are due out Thursday and Friday, respectively. Overall, the housing market is expected to have continued to lose momentum in August, but less dramatically than in July.

Also on the economic calendar this week: Tuesday's FOMC meeting on interest rates, the Conference Board's Leading Economic Indicators Index for August on Thursday, initial jobless claims for last week, and durable goods orders data for August on Friday. No significant changes from the Fed are anticipated, but the leading economic indicators may rise a bit.

Continue reading The Week in Preview: Housing Data, Lennar's Earnings and More

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Options Update: Adobe Volatility Flat

Posted Sep 9th 2010 5:45PM by Paul Foster (RSS feed)
Filed under: Apple Inc (AAPL), Adobe Systems (ADBE), Options

Adobe Systems, Incorporated (ADBE) closed up $3.55 to $32.86 after Apple, Inc. (AAPL) eased restrictions on development tools for iOS operating system. ADBE September put option implied volatility is at 33, October is at 36, January is at 36. This is near its 26-week average, according to Track Data, suggesting non-directional price movement.

CBOE Volatility Index Futures: September is recently down 30 cents to $23.35, October down 50 cents to $27.35, November down 40 cents to $28.70.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.
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Apple Releases Guidelines for App Developers

Posted Sep 9th 2010 4:30PM by Michael Fowlkes (RSS feed)
Filed under: Products and Services, Apple Inc (AAPL), Adobe Systems (ADBE), iPhone, Smartphones, Technology

iPhone appsSince Apple Inc. (AAPL) unleashed the iPhone on the world back in 2007 the company has sold millions of the device and created a massive market for iPhone apps. Developers have invested a lot of time and money in creating apps for the popular iPhone, but have been frustrated by the lack of guidelines and communication with Apple.

Developers have been begging for more insight into the approval process, and today Apple gave them what they wanted by releasing the guidelines it uses to review submitted apps.

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Good News for Adobe: Apple Allows Flash on Devices

Posted Sep 9th 2010 1:00PM by Brent Archer (RSS feed)
Filed under: Major Movement, Good news, Apple Inc (AAPL), Adobe Systems (ADBE), Options, Technical Analysis, Technology

Adobe (ADBE) logoAdobe Systems (ADBE - option chain) shares are rising today after after Apple (AAPL) announced it will relax restrictions on development tools used by mobile application developers. The change in policy allows developers to resume using ADBE's Flash software in their apps, which had been effectively banned before the announcement. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ADBE.

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Two Signs the Economy Will Survive

Posted Jul 8th 2010 12:10PM by Derek and Damien Hoffman (RSS feed)
Filed under: Microsoft (MSFT), Apple Inc (AAPL), Cisco Systems (CSCO), Dell (DELL), Adobe Systems (ADBE), Oracle Corp (ORCL)

economic recoveryThe mainstream media is overflowing with hyperventilating bears preaching about a depression. All fear-mongering aside, we see two very positive developments in the U.S. economy: retail and corporate spending.

1. Retail Spending

The International Council of Shopping Centers has announced that retail sales expanded at the highest pace since September 2006. Luxury retailers posted an eye-popping 8% rise in sales. Seems like consumption is our culture. Some people think the U.S. consumer has changed. Personally, I would never bet against the DNA of a tribe ... and ours is shopping. As my brother Derek said, "In the Great Depression we had bread lines. Now, there are Apple (AAPL) iPhone 4 lines." That is a mind-blowing distinction.

Continue reading Two Signs the Economy Will Survive

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Early Financial Fireworks Hit the Markets; Will the U.S. Emerge the Leader in the Second Half of Year?

Posted Jul 2nd 2010 3:00PM by Derek and Damien Hoffman (RSS feed)
Filed under: Forecasts, Good news, Google (GOOG), Yahoo! (YHOO), Newsletters, McDonald's (MCD), Netflix, Inc. (NFLX), Adobe Systems (ADBE), AutoZone Inc (AZO), Best Buy (BBY), Kroger Co (KR), Chipotle Mexican Grill'A' (CMG), News Corp'B' (NWS), Economic Data, S and P 500, DJIA, Initial Public Offerings, Stocks to Buy, Northrop Grumman (NOC), Genzyme (GENZ), Stock Picks

With all the mixed signals driving uncertainty and worry lately, the consensus has been a foggy windshield with no clear direction. We can't even tell if one of the largest bear market rallies in history is fizzling or pausing.

On Wall Street, uncertainty is certainly a buzz killer for the irrationally exuberant. If you need a towel to wipe away the fog, take a look at Your Cheat Sheet to the Psychology of Market Cycles.

While contemplating where we're headed, let's take a look at some data points that indicate the US has the potential to lead the world out of this recession ...


Continue reading Early Financial Fireworks Hit the Markets; Will the U.S. Emerge the Leader in the Second Half of Year?

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Closing Bell: Bears Getting Closer to DJIA 10,000 (LOW, DFS, ADBE, AAPL, BP)

Posted Jun 24th 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: Apple Inc (AAPL), Adobe Systems (ADBE), Lowe's Cos (LOW), BP p.l.c. ADS (BP)

The markets tried to stage some stability after the weekly jobless claims fell more than expected. Unfortunately durable goods, concerns over retail sales, and that nagging notion of a double-dip recession keep the market down. The DJIA was down triple digits in the final minutes and here are the unofficial closing bell levels today:

Dow 10,152.80 -145.64 (-1.41%)
S&P 500 1,073.69 -18.35 (-1.68%)
Nasdaq 2,217.42 -36.81 (-1.63%)

Continue reading Closing Bell: Bears Getting Closer to DJIA 10,000 (LOW, DFS, ADBE, AAPL, BP)

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Closing Bell: The Big Coin Toss (BP, ADBE, RAD, RGLD)

Posted Jun 23rd 2010 4:20PM by Jon Ogg (RSS feed)
Filed under: Adobe Systems (ADBE), BP p.l.c. ADS (BP), Rite Aid Corp (RAD)

Things started out well this morning with U.S. stocks trying to break a two-day drop. New housing sales were very weak, and then the FOMC's virtual economic downgrade added more uncertainty to the markets and we had yet one more day where the direction of the market was uncertain until the very final minutes of the trading day.

Here were today's unofficial closing bell levels:

Dow 10,298.44 +4.92 (0.05%)
S&P 500 1,092.04 -3.27 (-0.30%)
Nasdaq 2,254.23 -7.57 (-0.33%)

Top Analyst Calls

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Adobe Trades Lower Despite Announcing Record Revenues

Posted Jun 23rd 2010 8:30AM by Michael Fowlkes (RSS feed)
Filed under: After the Bell, Earnings Reports, Forecasts, Adobe Systems (ADBE), Technology

Adobe ADBEShares of tech giant Adobe Systems (ADBE) sold off in after-hours trading Tuesday following the company's second quarter earnings report, which showed record revenues for the company.

As we noted in our earnings preview yesterday, analysts were expecting to see the company announce earnings of 42 cents per share. Actual earnings were slightly higher at 44 cents per share.

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Adobe Second Quarter Earnings Preview

Posted Jun 22nd 2010 9:00AM by Michael Fowlkes (RSS feed)
Filed under: Earnings Reports, Adobe Systems (ADBE), Technology

Adobe Second Quarter Earnings PreviewTech giant Adobe Systems (ADBE) will report its second-quarter earnings Tuesday after the market closes. Analysts are expecting to see earnings of 42 cents per share.

During the same period last year, the company had earnings of 35 cents per share.

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Adobe Systems: Side-Ways Action Creates an Opportunity

Posted May 28th 2010 10:00AM by Joseph Lazzaro (RSS feed)
Filed under: Adobe Systems (ADBE), Stocks to Buy

The shares of Adobe Systems (ADBE), which I first wrote about on June 9, 2009 at a price of $29.77, have meandered for the better part of three months, but just look on that sequence as an extended opportunity to scoop-up shares a bargain. Here's why:

Look for Adobe's 2010 revenue to increase an impressive 25-30%, boosted by Creative Suite 5, an acquisition, and the U.S./global economic expansions.

Adobe remains "in the catbird seat" regarding rich Internet applications, and companion web-based graphics and video production tools. Meanwhile, cost containment is adequate.

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Starbucks Brews Up a Bit

Posted Apr 22nd 2010 3:40PM by Steven Mallas (RSS feed)
Filed under: Earnings Reports, Starbucks (SBUX), Adobe Systems (ADBE)

Starbucks (SBUX), perhaps the most famous coffee chain on the planet, is up today on second-quarter data. At the time of this writing, in afternoon trading, shares were bid higher by 6.2% to $26.97. That's three pennies less than the new 52-week high that was made today.

What a bull rally the market is in, huh? Seems like I talk about a new 52-week high all the time. Sentiment on future prospects for many companies continues to be extremely positive. The one-year chart for Starbucks shows a nice uptrend.

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