Wall Street Addict

Oil prices fell Thursday ahead of the release of a U.S. government report expected to show that U.S. crude and gasoline supplies rose last week.
News that a number of U.S. refineries which suffered unplanned glitches earlier this month were returning to full, or at least partial, production added to pressure on prices.
Light, sweet crude for July delivery dropped 24 cents to $63.25 a barrel on the New York Mercantile Exchange by afternoon in Europe. July Brent crude lost 10 cents to $67.74 a barrel on the ICE Futures exchange in London.
"It seems some traders are closing positions as it's the end of the month," said Hitoshi Inagawa, a Tokyo-based trader with Yutaka Shoji.
The U.S. Energy Department's weekly inventory report -- due later Thursday -- is forecast to show domestic gasoline stocks rose 1 million barrels for the week ended May 25, according to a Dow Jones Newswires poll of analysts.
Crude oil inventories were expected to climb about 300,000 barrels, and distillate stocks were predicted to rise about 500,000 barrels, according to the poll.
A big premium on the price of gasoline over crude oil is expected to have spurred more production of the fuel, said Jason Schenker, an economist at Wachovia in Charlotte, North Carolina.
"Gasoline imports likely rebounded from the previous week, and with higher refinery production, (stockpiles) likely built," Schenker said.
Heating oil futures dropped 0.80 cent to $1.8675 a gallon on the Nymex, while natural gas prices rose 4.4 cents to $7.985 per 1,000 cubic feet.

Labels: Crude Oil, CVX, Oil Prices, RDS-B

Stock prices are higher in early trading today with the Dow Jones industrials up 22.43 to 13,655.51, the Nasdaq Composite higher by 11.11 at 2,603.70 and the Standard & Poor's 500 up 3.59 at 1,533.82. Wall Street received another batch of acquisitions but mixed news on the economy. Later Thursday morning, the Commerce Department will report on construction spending, which is expected to have slipped 0.1 percent in April after rising 0.2 percent in March. The Chicago Purchasing Managers will release its manufacturing index. Economists predict the Chicago PMI to have risen to 54.0 in May from 52.9 in April.
Investors hope the economy will keep expanding, but not so fast that it prevents the Federal Reserve from lowering interest rates later this year. Stocks soared Wednesday when minutes from the Fed's latest meeting indicated the central bank is not inclined to make a rate hike.
While Wall Street is unsure about the economic outlook, it remains buoyed by the unrelenting surge of takeover activity. On Thursday, banking company Wachovia Corp. said it would acquire A.G. Edwards Inc. for $6.8 billion in cash and stock to form one of the largest retail stock brokerages in the country. And payroll processor Ceridian Corp. said late Wednesday it will be bought out by investment firm Thomas H. Lee Partners LP and insurance provider Fidelity National Financial Inc. for about $5.3 billion.
Meanwhile Thursday, discount retailer Costco Wholesale Corp. and jewelry seller Tiffany & Co. released their financial results. Costco posted a fiscal third-quarter profit decline of 4.9 percent, while Tiffany reported a 15 percent rise in fiscal first-quarter profit -- indicating that consumer demand for big-ticket items remains robust.
Retailer Sears Holdings Corp. reported a solid 20 percent gain in earnings from the recent quarter, but said its U.S store sales dropped.
The dollar was mixed against other major currencies, while gold prices rose.
Crude oil futures fell 39 cents to $63.18 a barrel in preopening electronic trading on the New York Mercantile Exchange, ahead of data on U.S. petroleum inventories.
Chinese stocks rebounded a bit Thursday after a sharp drop a day earlier. The Shanghai Composite Index rose 1.4 percent.
Japan's Nikkei stock average rose 1.63 percent. In afternoon trading, Britain's FTSE 100 was up 0.51 percent, Germany's DAX index was up 1.47 percent, and France's CAC-40 was up 1.07 percent.
Source: AP

Labels: AGE, CEN, COST, FNF, TIF, WB

The economy nearly stalled in the first quarter with growth slowing to a pace of just 0.6 percent. That was the worst three-month showing in over four years.
The new reading on the gross domestic product, released by the Commerce Department Thursday, showed that economic growth in the January-through-March quarter was much weaker. Government statisticians slashed by more than half their first estimate of a 1.3 percent growth rate for the quarter.
The main culprits for the downgrade: the bloated trade deficit and businesses cutting investment in supplies of the goods they hold in inventories. For nearly a year, the economy has been enduring a stretch of subpar economic growth due mostly to a sharp housing slump. That in turn has made some businesses act more cautiously in their spending and investing.
The economy's 0.6 percent growth rate in the opening quarter of this year marked a big loss of momentum from the 2.5 percent pace logged in the final quarter of last year.
Federal Reserve Chairman Ben Bernanke doesn't believe the economy will slide into recession this year, nor do Bush administration officials. But ex Fed chief Alan Greenspan has put the odds at one in three.

Labels: Alan Greenspan, Ben Bernanke, Economy, Fed

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.

Lear Corporation (NYSE:LEA - News) & Platinum Holdings (NYSE:PTP - News). LEA's PowerRating is 7, and PTP's PowerRating is 7.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Northrop Grunman (NYSE:NOC - News). NOC's PowerRating is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Axis Capital Holdings (NYSE:AXS - News) & The Travelers Company (NYSE:TRV - News). AXS's PowerRating is 7, and TRV's PowerRating is 6.
Bearish
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge. Historically, these stocks have provided traders with a significant edge.
Novartis (NYSE:NVS - News). NVS's PowerRating is 4.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Pinnacle Entertainment (NYSE:PNK - News). PNK's PowerRating is 3.
PowerRatings are courtesy of PowerRatings.net

Labels: AXS, LEA, NOC, NVS, PNK, PTP, TRV

Oil prices were mixed Wednesday, as expectations that U.S. inventory data would show an increase of crude and gasoline supplies were tempered by worries about disruptions in Nigeria.
Prices plunged more than $2 a barrel a day earlier, as developments with major producers Iran and Nigeria eased some geopolitical concerns.
Light, sweet crude for July delivery added 13 cents to $63.28 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe, while Brent crude for July fell 56 cents to $67.78 a barrel on the ICE Futures exchange in London.
Markets were unsettled on word that 150,000 barrels of daily output had been cut from Royal Dutch Shell's production in Nigeria after protests by local youths, but Shell said later that it had begun restoring oil production.
A day earlier, though, the Nymex July crude contract dropped $2.05 to settle at $63.15 a barrel on hopes that the inauguration of a new president in OPEC member Nigeria would contribute to a stable supply from the Niger Delta region.
"The $2 drop yesterday is not necessarily the beginning of a downward trend, so some market participants view the moment as a buying opportunity," said Victor Shum, energy analyst with Purvin & Gertz in Singapore.

Labels: ICE, Nigeria, Nymex, Oil Prices, RDS-B

Wall Street retreated Wednesday as investors around the world reacted to a plunge in China's stock market, and awaited the release of minutes from the last Federal Reserve meeting.
The pullback in the U.S. wasn't seen as a surprise as stocks were perhaps overdue for a consolidation after a strong run since the second half of 2006. And the declines in Asian and European markets did not appear as dramatic as on Feb. 27, when investors around the world recoiled at a 9 percent slide in the Shanghai index.
The tumble in Chinese stocks rippled through the global markets. When Beijing tripled a tax on stock trading to cool the country's market boom, the main Shanghai Composite Index dropped 6.5 percent and the Shenzhen Composite Index for China's smaller second market slid 7.2 percent.
Investors also retrenched ahead of the Fed minutes, which Wall Street hopes will indicate that policy makers are leaning more toward a rate cut by the end of the year than a rate hike. The minutes will be released at 2 p.m. EDT.
In the first hour of trading, the Dow Jones industrial average fell 38.93, or 0.29 percent, to 13,482.41.
Broader stock indicators were also lower. The Standard & Poor's 500 index was down 4.06, or 0.27 percent, at 1,514.05, and the Nasdaq composite index dropped 12.30, or 0.48 percent, to 2,559.76.
Source: AP

Labels: Dow Jones, Nasdaq, Shanghai Composite, Shenzhen Composite

Here are 7 stocks for traders for Wednesday:
Verifone (NYSE:PAY) beat earnings on Tuesday afternoon, with $0.39 EPS over an expected $0.37 EPS. PAY's PowerRating is 6.
Alkermes (NasdaqGS:ALKS) beat earnings on Tuesday after the close, announcing $0.03 EPS over an expected $0.01 EPS. ALKS's PowerRating is 6.
Daktronics (NasdaqGS:DAKT) announces earnings on Wednesday before the open; look for $0.08 EPS. DAKT's PowerRating is 3.
Dress Barn (NasdaqGS:DBRN) reports quarterly earnings on Wednesday morning before the market opens, with analysts watching for $0.31 EPS. DBRN's PowerRating is 6.
Joy Global (NasdaqGS:JOYG) should report $0.72 EPS before the bell on Wednesday. JOYG's PowerRating is 7.
When Polo Ralph Lauren (NYSE:RL) announces earnings Wednesday morning, be looking for $0.62 EPS. RL's PowerRating is 6.
Analysts expect Williams-Sonoma (NYSE:WSM) to report $0.13 EPS tomorrow morning before the market opens. WSM's PowerRating is 6.
PowerRatings are courtesy of PowerRatings.net

Labels: ALKS, DAKT, DBRN, JOYG, PAY, RL, WSM

Shares of CDW Corp. (NasdaqGS:CDWC - News) rose 9 percent early on Tuesday following a report that the computer technology retailer may be a takeover target from private equity firms.
CDW shares, which have already climbed about 28 percent since early March, rose to $84.69 in pre-open trade on Nasdaq.
Private equity firms are in talks for a buyout of CDW, which has a market capitalization of about $6 billion, The Wall Street Journal said on Tuesday, citing unnamed sources. MadisonDearborn Partners is considered in the lead to buy CDW.
The talks are at a sensitive stage and could fall apart, the paper said, adding that the buyout firm might also face some late competition.
CDW, based in Vernon Hill, Illinois, and Madison Dearborn were not immediately available for comment.
CDW, which mainly sells to government agencies and businesses through a Web-based catalog, last month posted a 24.5 percent rise in first-quarter net income, buoyed by higher sales of notebook computers, storage equipment, software and video-related equipment.
The results came after the company had expanded its distribution capacity, reorganized its sales force and entered a new market -- selling complex computer systems customized for each client -- in a bid to boost sales.
Shares of CDW are only up about 7 percent this year. However, the stock, which closed on Friday at $75.56 on Nasdaq, has jumped 28 percent since early March, compared with a 10 percent rise in the S&P 500 index (^SPX - News).
CDW competes against companies like Insight Enterprises Inc. (NasdaqGS:NSIT - News) and Dell Inc. (NasdaqGS:DELL - News)
Published by Reuters

Labels: CDWC, DELL, NSIT

San Francisco-based URS Corp. is buying Washington Group International for $2.6 billion, the engineering and construction companies announced Monday.
The boards of directors of both companies unanimously approved the deal, which calls for Washington Group stockholders to receive $43.80 in cash and .772 shares of URS stock for each Washington Group share.
The transaction is valued at $80 per share, or a 14 percent premium over Washington Group's closing stock price on Friday.
The deal combines two of the nation's largest engineering and construction firms. URS has 29,500 employees in 20 countries, while Washington Group has 25,000 employees worldwide.
The deal, which is subject to approval by the stockholders of each company and regulators, is expected to close in the second half of this year, the companies said.
The combined company would operate under the name URS Corp., and would have one of the largest teams of nuclear scientists and engineers in the industry and a backlog of projects exceeding $11 billion in more than 50 countries, company officials said.

Labels: RTN, URS

The Federal Trade Commission has opened an antitrust investigation into Google Inc.'s proposed $3.1 billion purchase of ad-management technology company DoubleClick Inc.
The review of the deal was widely expected after Mountain View-based Google announced plans last month to acquire DoubleClick, a company that helps its customers place and track online advertising.
New York-based DoubleClick helps its customers place and track online advertising, including search ads, which Google -- more than its nearest search competitors Yahoo Inc. and Microsoft Corp. -- has turned into an extremely lucrative business.
DoubleClick had been the target of a fierce bidding war between Microsoft and Google. Though Google commands the bulk of the online advertising search market, the addition of DoubleClick's technology and client network would further its efforts to branch out beyond its core ad offerings.

Labels: GOOG, MSFT, YHOO

A consortium led by Royal Bank of Scotland PLC said Tuesday it will launch a hostile bid of 71.1 billion euros ($95.5 billion) for ABN Amro, topping a friendly offer from Barclays PLC and pressing Bank of America Corp. for control of the Dutch bank's U.S. arm.
The offer by the RBS group is for 38.40 euros ($51.59) per share of ABN Amro Holding NV, mostly in cash. It is at least 10 percent more than Barclays' all share offer worth 34.69 euros ($46.59) at current levels. ABN Amro's shares fell 0.6 percent to 35.87 euros ($48.19), suggesting serious investor doubts about which deal will prevail.
Either bid, if successful, would be the largest in the history of the financial industry.

Labels: ABN, BAC, BCS, STD

Wall Street traded flat on Thursday as investors braced for data on new home sales after the government's durable goods report suggested the economy is growing a bit above expectations.
With first-quarter earnings reports mostly over, Wall Street now hangs on economic data to give direction on both the economy and stocks. Investors also will use data to gauge if the Federal Reserve will consider cutting interest rates in 2007.
In the first few minutes of trading, the Dow Jones industrial average was up about 11 points at the 13,536 level.
Published by AP

Labels: Dow Jones, Federal Reserve, Stock Market, Wall Street

NYSE has a $13 billion market cap but $1 billion in cash and no debt, leaving it with an enterprise value of roughly $12 billion. Its balance sheet is extremely healthy, particularly when compared with a competitor like Nasdaq Stock Market (NDAQ), which has $2 billion in cash but more than $1.5 billion in debt and lower cash flows -- $341 million in earnings before interest, taxes, depreciation and amortization -- with which to pay that debt.
NYSE has EBITDA of $1 billion, and that number is expected to see a double-digit rise over the next year. Its enterprise-value-over-EBITDA multiple of just 11 puts it in potential buyout territory. Now I don't believe NYSE will get acquired, but if at any point it can't find accretive acquisitions, it would make sense for it to use cash to buy back shares at these levels, particularly since it can leverage up at 6% and buy back shares with an earnings yield of almost 10%. Every hedge fund and buyout fund, incidentally, looks at those types of numbers as well.
Earnings are expected to climb from $1.64 a share in 2006 to $2.48 in 2007 and $3.37 in 2008. The only other place I see that kind of growth with a market cap this big is on Google (GOOG).
Last week, large NYX shareholder Atticus Capital took a 4% stake in the Bombay Stock Exchange. This deal underlines how in our trade-deficit reality, one of our biggest exports is the U.S. expertise in financial services and innovation. NYSE Euronext is quietly becoming the world's financial marketplace. It's a 50-year game plan that will win. Atticus Capital, which is one of Cramer's favorite hedge funds, understands this implicitly and has been placing its bets.
Disclosure: We own stock options on NYX

Labels: NYSE Euronext, NYX

Here are 7 stocks for traders for Monday from TradingMarkets.com:
Campbell Soup (NYSE:CPB - News) reports earnings on Monday morning before the bell; watch for $0.41 EPS. CPB's PowerRating is 5.
Lowe's (NYSE:LOW - News) reports earning Monday before the market opens, with analysts looking for $0.50 EPS. LOW's PowerRating is 5.
When Saks (NYSE:SKS - News) announces quarterly earnings Monday morning, be looking for $0.16 EPS. SKS's PowerRating is 6.
Analysts expect Trina Solar (NYSE:TSL - News) to report $0.15 EPS in quarterly earnings before the bell on Monday. TSL does not have a PowerRating due to its short trading history.
American Science & Engineering (NasdaqGM:ASEI - News), Apollo Group (NasdaqGS:APOL - News) and Pacific Sunwear (NasdaqGS:PSUN - News) all report earnings on Monday after the market closes, so watch for heightened price action and volatility ahead of the close. ASEI's PowerRating is 5, APOL's PowerRating is 4 and PSUN's PowerRating is 5.
PowerRatings are courtesy of PowerRatings.net

Labels: APOL, ASEI, CPB, LOW, PSUN, SKS, TSL

Here are 7 options to watch for today. This list comes directly from the TM Options Indicators page and is created using OptionVue options analysis software.
Most Underpriced Calls: These are the most under priced calls of all stocks in our database. While the Equities Explosion List finds groups of calls for individual equities that are under priced, this list finds the most under priced individual calls. Thus, the options listed here will tend to be more severely under priced.
Goldman Sachs July 260 Calls (NYSE:GS - News). GS's PowerRating is 5.
Most Underpriced Puts: These are the most under priced puts of all stocks in our database. While the Equities Explosion List finds groups of puts for individual equities that are under priced, this list finds the most under priced individual puts. Thus, the options listed here will tend to be more severely under priced.
Altria Jun 70 Puts (NYSE:MO - News). MO's PowerRating is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. While the Equities Implosion List finds groups of calls for individual equities that are overpriced, this list finds the most overpriced individual calls. Thus, the options listed here will tend to be more severely overpriced.
Apple July 120 Calls (NasdaqGS:AAPL - News). AAPL's PowerRating is 5.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. While the Equities Implosion List finds groups of puts for individual equities that are overpriced, this list finds the most overpriced individual puts. Thus, the options listed here will tend to be more severely overpriced.
Dow Jones June 50 Puts (NYSE:DJ - News). DJ's PowerRating is 6.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
Sun Microsystems (NasdaqGS:SUNW - News). SUNW's PowerRating is 4.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
Network Appliance (NasdaqGS:NTAP - News). NTAP's PowerRating is 7.
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Genentech (NYSE:DNA - News). DNA's PowerRating is 5.
PowerRatings are courtesy of TradingMarkets.com.

Labels: AAPL, DJ, DNA, GS, MO, NTAP, SUNW

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Hospira (NYSE:HSP - News) & Hologic (NasdaqGS:HOLX - News). HSP's PowerRating is 6, and HOLX's PowerRating is 8.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Oriental Express Hotels (NYSE:OEH - News). OEH's PowerRating is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Novellus Systems (NasdaqGS:NVLS - News) & NuStar GP Holdings (NYSE:NSH - News). NVLS's PowerRating is 7, and NHS's PowerRating is 8.
Bearish
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge. Historically, these stocks have provided traders with a significant edge.
Jackson Hewitt (NYSE:JTX - News). JTX's PowerRating is 3.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Conseco (NYSE:CNO - News). CNO's PowerRating is 4.
PowerRatings are courtesy of PowerRatings.net

Labels: CNO, HOLX, HSP, JTX, NSH, NVLS, OEH

Stocks seesawed Wednesday as a mixed reading on the housing sector appeared to unnerve investors.
Commerce Department data that showed housing starts fell to their lowest level in 17 years during April punctured an early rally, though stocks later regained some of their lost ground. The market drew some support from a Federal Reserve report that showed industrial output rose by more than expected last month.
The housing start news came a day after a lackluster read on the housing sector upended a big rally in stocks that sent the Dow Jones industrials briefly above 13,400 for the first time. In midday trading, the Dow rose 25.84, or 0.19 percent, to 13,409.68 after falling earlier.
Broader stock indicators also rose. The Standard & Poor's 500 index advanced 3.75, or 0.25 percent, to 1,504.94 and the Nasdaq composite index fell 1.56, or 0.06 percent, to 2,526.85.
Bonds showed little change despite the economic readings. The yield on the benchmark 10-year Treasury note remained flat at 4.71 percent from late Tuesday. The dollar was mixed against other major currencies, while gold prices fell.
Light, sweet crude fell 91 cents to $62.26 per barrel on the New York Mercantile Exchange. Crude prices have risen in recent sessions amid concerns about supply disruptions, particularly in Nigeria where production has been buffeted by protests. Weekly U.S. inventory data showed domestic gasoline and crude inventories rose more than expected last week.
Wall Street continues to have an appetite for a steady stream of economic data as it tries to determine where the economy is headed. Good or bad economic news in recent months has often dictated the direction of stocks as investors struggled to determine whether a recent rally will continue or whether the market is due for a pullback.
On Wednesday, investors appeared pleased by word that construction of homes and apartments increased 2.5 percent in April from March to a seasonally adjusted annual rate of 1.528 million units. In a potentially worrisome sign, however, requests for new construction permits -- or housing starts -- fell 8.9 percent in April, the biggest drop since a 24 percent plunge in February 1990.
Investors embraced the Fed's report that industrial output rose by 0.7 percent in April. The gain was more than double the 0.3 percent gain that had been expected and in part reflected a rebound in manufacturing and an increase in output from utilities. In March, output fell 0.3 percent.
In corporate news, Federated Department Stores Inc. said it swung to a profit from a loss, although earnings excluding costs of the company's integration of May Department Stores Co., which it acquired in 2005, fell short of Wall Street's expectations. Federated fell 29 cents to $39.65.
Citigroup Inc., one of the 30 stocks in the Dow industrials, rose $1.92, or 3.6 percent, to $54.71 after billionaire hedge fund manager Edward S. Lampert said he acquired more than 15 million shares of the financial services conglomerate.
Johnson & Johnson, also a Dow component, rose after Warren Buffett's Berkshire Hathaway Inc. reported in a regulatory filing that it doubled its stake in the company.
Dell Inc. rose 77 cents, or 3.1 percent, to $25.44 as investors appeared relieved that a lawsuit filed by New York Attorney General Andrew Cuomo accusing the computer maker of deceiving consumers isn't tied to a Securities and Exchange Commission inquiry into Dell's accounting practices.
The Russell 2000 index of smaller companies fell 1.37, or 0.17 percent, to 812.81.
Declining issues barely outnumbered advancers on the New York Stock Exchange, where volume came to 634.1 million shares.
The dollar was mixed against other major currencies, while gold prices fell. Overseas, Japan's Nikkei stock average closed up 0.09 percent. Britain's FTSE 100 fell 0.14 percent, Germany's DAX index fell 0.32 percent, and France's CAC-40 fell 0.53 percent.
Source: AP

Labels: BRK-A, C, DELL, FD, JNJ

Here are 7 options to watch for today. This list comes directly from the TradingMarkets Options Indicators page. The list is created using OptionVue options analysis software.
Most Underpriced Calls: These are the most under priced calls of all stocks in our database. While the Equities Explosion List finds groups of calls for individual equities that are under priced, this list finds the most under priced individual calls. Thus, the options listed here will tend to be more severely under priced.
Goldman Sachs July 260 Calls (NYSE:GS - News). GS' PowerRating is 5.
Most Underpriced Puts: These are the most under priced puts of all stocks in our database. While the Equities Explosion List finds groups of puts for individual equities that are under priced, this list finds the most under priced individual puts. Thus, the options listed here will tend to be more severely under priced.
Altria Group Jun 70 Puts (NYSE:MO - News). MO's PowerRating is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. While the Equities Implosion List finds groups of calls for individual equities that are overpriced, this list finds the most overpriced individual calls. Thus, the options listed here will tend to be more severely overpriced.
Apple Inc. July 115 Calls (NasdaqGS:AAPL - News). AAPL's PowerRating is 2.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. While the Equities Implosion List finds groups of puts for individual equities that are overpriced, this list finds the most overpriced individual puts. Thus, the options listed here will tend to be more severely overpriced.
iShares MSCI Emerging Markets Index June 120 Puts (AMEX:EEM - News). EEM's PowerRating is 6.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
Alcan Inc. (NYSE:AL - News). AL's PowerRating is 4.
Jack in the Box (NYSE:JBX - News). JBX's PowerRating is 5.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
None today
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Amgen (NasdaqGS:AMGN - News). AMGN's PowerRating is 6.
PowerRatings are courtesy of TradingMarkets.com

Labels: AAPL, AL, AMGN, EEM, GS, JBX, MO, Stock Options