Wall Street Addict

On Friday the Fast Money crew speculated on the news about Citigroup (C). Macke thinks the banks are still a sell here unless you're the fastest of traders. Finerman went long Citigroup through options on Friday and she sees a bounce if CEO Chuck Prince leaves. Macke agrees that it does look like a near term reversal to the upside could be in store for Citigroup. Tim Seymour thinks the downside for the financials might be a bit over done and he bought Merrill Lynch (MER) on Friday.
Famous Legg Mason money manager, Bill Miller, likes financials and consumer names, proposing that the global plays might be over. He predicts that new leadership in the markets will come from US, large-cap, dollar-based stocks. Seymour disagrees and thinks that consumer names will do nothing over the next year. Macke thinks Miller's statement is reckless.
Cisco Systems (CSCO) is set to report earnings on Wednesday. Oppenheimer Chief Market technician Carter Worth joined the show to discuss Cisco Systems. In Worth's opinion, CSCO has relative strength and during market sell-offs investors haven't been selling the shares. Adami notes that fundamentally CSCO is doing well. Seymour contends CSCO is a bell-weather for technology and the company is finding ways to grow outside of the U.S. Macke thinks CSCO is just getting started and any pullback in the name is a chance to buy it. In the technology sector Macke wants a dip on Microsoft (MSFT) so he can get in. Adami favors Western Digital.
Retail Shopping
Most major retailers are set to report same-store sales for October on Wednesday Nov. 7th and Thursday Nov. 8th. Costco (COST) and Macy's (M) are Macke's favorite plays here. Finerman is positive on the retailers, but she is nervous about the consumer and she sold her Target (TGT).
Insurance: A shareholder group including Maurice Greenberg is requesting that American International Group (AIG) look at strategic alternatives. The stock is trading up 3% after hours on the news. Greenberg, who use to run AIG, is currently the largest shareholder and controls $3 billion in the stock. Charlie Gasparino's sources say that Greenberg wants to get rid of the current mangers and board of directors. Macke would be a buyer of AIG off this news.
OIL: Oil hits another record high to close at $95.93. Finerman favors Flowserve (FLS) for a global play. She also mentioned that FLS is her biggest position, although she did trim some on Friday. Adami tells investors Exxon Mobil (XOM) still has a rich valuation and if you want to play the oil space look at Chevron (CVX).
Seymour recommends investors look at emerging markets like Brazil, Russia and China. Brazilian banks Banco Itau Holding Financeira S.A. (ITU) and Banco Bradesco S.A. (BBD) are his plays. In Eastern Europe, he likes cellular plays Mobile TeleSystems (MBT) and Vimpel-Communications (VIP).
Pops & Drops
Pops - IAC Interactive Corp (IACI) traded up 9% after beating earnings.
USEC (USU) traded up 12% on a strong profits report.
Potash (POT) traded up 4% after Russian competitor Silvinit had a major flood causing tight world supplies to tighten further.
Baidu.com (BIDU) popped 16% after profits doubled. Macke declares BIDU is the Google of China.
Drops - Washington Mutual (WM) fell 17% after New York Attorney General Andrew Cuomo sued WM alleging it colluded with a real estate appraisal firm to inflate the value of homes to help ensure that loans went through.
Yahoo! (YHOO) fell 8% for the week.
Target (TGT) fell 6% following the downward trend in the market.
Titanium Metals (TIE) fell 11% after missing profit forecasts.
Quicker than the Ticker
Back on October 8th, Seymour suggested buying CTC Media (CTCM) and Central European Media Entertainment (CETV). Seymour got it right and shares of CTC Media went up 7% and CETV surged 20% since his recommendation.
On October 17th Adami told investors to buy MasterCard (MA). The stock has advanced 17% since he recommended it.
October 29th Finerman advised shorting GPS play Garmin (GRMN). GRMN declined 20% since her call.
It was October 31st when Macke recommended investors to short Citigroup (C). Macke was right and two days later Citigroup fell 9%.
Misfires
Earlier this week on Tuesday, Adami recommended buying Las Vegas Sands (LVS). He missed the trade and LVS plunged 19% since his call. For now he favors Boyd Gaming (BYD).
Last Friday Finerman recommended shorting oil. Since her call oil has climbed 6% higher. Finerman would get out of the short oil trade because it didn't work.
A week ago Macke told investors to buy Procter and Gamble (PG). Procter has fallen 3% since he picked it, but Macke says the earnings report wasn't that bad and maintains its going to work in the long-term.
On October 4th Seymour favored investment bank Merrill Lynch (MER) on valuation. Seymour was way off and Merrill fell 19%.
Final Trade
After a rollercoaster week, the team gives their best picks. Although, not necessarily for stocks.
Macke picks the Indianapolis Colts over the New England Patriots. Finerman went with the New England Patriots.
Adami places his bet on Intel (INTC).
Seymour chooses Immersion (IMMR).

Labels: AIG, BIDU, CNBC, COST, CSCO, CVX, fast money, Fast Money Recap, IACI, MER, MSFT, TGT, XOM

It was a roller-coaster ride for stocks to end the trading week, as Wall Street weighed a solid jobs report with soaring oil prices and a troubled financial sector that continues to battle credit concerns. The Dow bounced off its lows to close higher for the day finishing at 13,595. Meanwhile, the Nasdaq and S&P each rebounded from earlier lows to close at 2,810 and 1,510, respectively. Oil prices rose on the session to close the week at $95.58 a barrel for December delivery. Treasury prices and gold both gained in trading, with gold ending at $808.50 on the day. The dollar fell against the euro, but rose against the yen.
On the economic front, a report from the U.S. labor department showed that employers increased payrolls by a surprisingly strong 166,000 jobs in October, the biggest jump in five months, and nearly double what analysts were expecting. The improved labor report did little to boost Wall Street confidence, however, as investors continued to struggle with rising commodity costs, a weak financial sector, and news that the Fed may pause its rate cutting trend on inflation concerns.
In earnings news, Chevron (NYSE: CVX - News) reported a drop in third-quarter profit as tighter U.S. refining margins took a toll. The nation's second-largest oil company said net income fell in the quarter to $3.72 billion, or $1.75 per share, versus $5.02 billion, or $2.29 per share, last year. Quarterly revenue also declined to $55.17 billion from $54.21 billion a year ago. On average, analysts were expecting earnings of $2.07 per share on revenue of $58.29 billion. Chevron's stock was down -0.6% in trading.
Health insurer Cigna (NYSE: CI - News) said third-quarter net income increased to $365 million, or $1.28 per share, up 22% from $298 million, or 92 cents per share, a year ago. Adjusted income excluding special items was $323 million, or $1.14 per share, versus $268 million, or 83 cents per share, last year. Total revenue in the quarter was $4.41 billion, up from $4.14 billion in the 2006 period. Analysts were looking for EPS of 94 cents on revenue of $4.41 billion. Shares of Cigna were down -3.5% for the day, however, as the company predicted full-year 2008 earnings per share of $4.00-$4.20, missing analyst expectations of $4.23 per share.
NYSE Euronext (NYSE: NYX - News) reported a 279% increase in profit for the third quarter. The company announced Q3 net income of $258 million, or 97 cents per share, up from $68 million, or 43 cents per share, last year. Excluding one-time costs, the company said it earned $202 million, or 76 cents per share. Revenue in the quarter jumped to $1.2 billion from $602 million in the prior year. Analysts had predicted a profit of 73 cents per share on revenue of $823.5 million. The stock fell -0.5% on the day.
In other corporate news, several media sources reported that Citigroup's (NYSE: C - News) board of directors has called an emergency meeting for this weekend. Although the meeting's agenda was not immediately clear, it is widely speculated that the topic of future write-downs may be discussed as well as the future of CEO Chuck Prince.
By the BullMarket.com Staff

Labels: C, CI, CVX, NYX

It was a roller-coaster ride for stocks to end the trading week, as Wall Street weighed a solid jobs report with soaring oil prices and a troubled financial sector that continues to battle credit concerns. The Dow bounced off its lows to close higher for the day finishing at 13,595. Meanwhile, the Nasdaq and S&P each rebounded from earlier lows to close at 2,810 and 1,510, respectively. Oil prices rose on the session to close the week at $95.58 a barrel for December delivery. Treasury prices and gold both gained in trading, with gold ending at $808.50 on the day. The dollar fell against the euro, but rose against the yen.On the economic front, a report from the U.S. labor department showed that employers increased payrolls by a surprisingly strong 166,000 jobs in October, the biggest jump in five months, and nearly double what analysts were expecting. The improved labor report did little to boost Wall Street confidence, however, as investors continued to struggle with rising commodity costs, a weak financial sector, and news that the Fed may pause its rate cutting trend on inflation concerns.In earnings news, Chevron (NYSE: CVX - News) reported a drop in third-quarter profit as tighter U.S. refining margins took a toll. The nation's second-largest oil company said net income fell in the quarter to $3.72 billion, or $1.75 per share, versus $5.02 billion, or $2.29 per share, last year. Quarterly revenue also declined to $55.17 billion from $54.21 billion a year ago. On average, analysts were expecting earnings of $2.07 per share on revenue of $58.29 billion. Chevron's stock was down -0.6% in trading.Health insurer Cigna (NYSE: CI - News) said third-quarter net income increased to $365 million, or $1.28 per share, up 22% from $298 million, or 92 cents per share, a year ago. Adjusted income excluding special items was $323 million, or $1.14 per share, versus $268 million, or 83 cents per share, last year. Total revenue in the quarter was $4.41 billion, up from $4.14 billion in the 2006 period. Analysts were looking for EPS of 94 cents on revenue of $4.41 billion. Shares of Cigna were down -3.5% for the day, however, as the company predicted full-year 2008 earnings per share of $4.00-$4.20, missing analyst expectations of $4.23 per share.NYSE Euronext (NYSE: NYX - News) reported a 279% increase in profit for the third quarter. The company announced Q3 net income of $258 million, or 97 cents per share, up from $68 million, or 43 cents per share, last year. Excluding one-time costs, the company said it earned $202 million, or 76 cents per share. Revenue in the quarter jumped to $1.2 billion from $602 million in the prior year. Analysts had predicted a profit of 73 cents per share on revenue of $823.5 million. The stock fell -0.5% on the day.In other corporate news, several media sources reported that Citigroup's (NYSE: C - News) board of directors has called an emergency meeting for this weekend. Although the meeting's agenda was not immediately clear, it is widely speculated that the topic of future write-downs may be discussed as well as the future of CEO Chuck Prince.By the BullMarket.com Staff

Labels: C, CI, CVX, NYX

Here are 7 stocks for traders for Friday from TradingMarkets.com:
Electronic Arts (NasdaqGS:ERTS - News) beat earnings on Thursday with $0.27 EPS over an expected $0.20 EPS. ERTS's PowerRating (for Traders) is 5.
Bebe Stores (NasdaqGS:BEBE - News) missed earnings expectations on Thursday afternoon, with $0.16 EPS versus a consensus of $0.17 EPS. BEBE's PowerRating (for Traders) is 5.
Verisign (NasdaqGS:VRSN - News) also missed earnings, with $0.26 EPS versus expectations of $0.27 EPS. VRSN's PowerRating (for Traders) is 6.
Chevron (NYSE:CVX - News) reports earnings on Friday before the market opens, with analysts looking for $2.05 EPS. CVX's PowerRating (for Traders) is 6.
When Duke Energy (NYSE:DUK - News) reports quarterly earnings tomorrow morning, analysts will be watching for $0.39 EPS. DUK's PowerRating (for Traders) is 4.
International Paper (NYSE:IP - News) is looking to report $0.57 EPS on Friday morning before the market opens. IP's PowerRating (for Traders) is 4.
Analysts are watching for NYSE Euronext (NYSE:NYX - News) to report $0.72 EPS on Friday before the market opens. NYX's PowerRating (for Traders) is 5.
Published by TraderMarkets.com

Labels: BEBE, CVX, DUK, ERTS, Hot Stocks, IP, NYX, VRSN

Refiner stocks mostly fell Wednesday after several companies forecast lower earnings, though analysts said the sector's longer-term prospects are worth the investment.
Valero Energy Corp. on Wednesday became the latest in a string of refiners to issue such a message, saying earnings excluding certain items for the third quarter will be $1.30 to $1.40 per share. Analysts polled by Thomson Financial had on average been expecting earnings of $1.91 per share.
Valero shares fell 37 cents to $71.82.
Analysts urged investors to buy up cheaper shares, however, saying the quarterly results are not an indication of the industry's long-term health.
Goldman Sachs analyst Arjun Murti told investors to "buy any dip" related to Valero's warning in a client note on Wednesday.
"While the transitional nature of 3Q2007 had a more pronounced negative impact on quarterly refining earnings than we expected, oil market conditions have otherwise turned decidedly bullish, which will ultimately benefit Valero and the refining sector," Murti wrote.
Citigroup analyst Doug Leggate reiterated his "Buy" rating for Valero and called any share-price weakness an opportunity to do just that.
"Clearly, the market reaction will not be positive," Leggate wrote in a note Wednesday. "That said, 3Q07 is over. A poor quarter should not be a major surprise."
Chevron Corp. said Tuesday its third-quarter profit will drop sharply from record levels reached during the spring. Banc of America Securities analyst Daniel Barcelo focused on the company's future prospects in a client note Wednesday.
"Any significant pull back in Chevron's share price could present a good buying opportunity into 2008 given its oil price exposure and visible deepwater growth to the end of the decade," he wrote.
ConocoPhillips and Marathon Oil Corp. have also said they expect third-quarter earnings to be hit by weak margins.
ConocoPhillips shares rose 16 cents to $86.04 as Marathon shares fell 67 cents to $57.71.
Citigroup analyst James Neale said expectations for BP PLC's third quarter are negative, but reinforced the sentiment, also expressed by other analysts, that BP's operational turnaround and production boosts next year will propel its shares upward.
BP shares fell 3 cents to $71.15.
Published by AP

Labels: BP, COP, CVX, FTO, HES, MRO, MUR, SU, SUN, TOT, TSO, VLO, XOM

Stocks advanced Wednesday as Wall Street, coming off a sharp decline a day earlier, got a boost from takeover activity as it awaited second-quarter earnings reports.
Investors shaken by profit warnings earlier in the week appeared to be cautiously optimistic ahead of quarterly reports from biotechnology company Genentech Inc. and fast-food chain operator Yum Brands Inc. The two companies release their results after the market closes. New merger and acquisition activity helped lift stocks. Steelmaker Gerdau Ameristeel Corp. said late Tuesday it is buying Chaparral Steel Co. for $4.22 billion; speculation mounted that Colgate-Palmolive Co. was interested in buying Unilever; and aluminum producer Alcan Inc. reportedly began talks with Rio Tinto PLC to fend off a hostile bid by rival Alcoa Inc.
Meanwhile, Philadelphia Federal Reserve President Charles Plosser alleviated some investors' jitters about subprime lending, saying in a speech in London that the financial system is well-equipped to handle subprime troubles.
But market watchers said the market's concerns about risky home loans could re-emerge at any moment. "The actual financial impact is anybody's guess. The market doesn't like uncertainty," Herrick said.

Source: Madlen Read, AP Business Writer

Labels: AA, AL, CHAP, CL, CVX, DNA, RTP, YUM

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