Börsipäev 8. juuni
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Pullid olid eilse päeva lõpus taas sunnitud alla vanduma ning seda viiendat päeva järjest. 15 minutit enne turgude sulgumist tõdes Bernanke oma kõnes, et USA majanduslik taastumine jääb nõrgemaks, kui esialgu arvati, ent säilitas seejuures optimismi teise poolaasta suhtes, kui Jaapani maavärina tagajärjed kaovad ning madalamad kütusehinnad võiksid tarbimist toetada. Aasia indeksid on seetõttu samuti valdavalt punased ning Euroopagi peaks avanema poole protsendi jagu madalamal.
Tänasest makrost võiks suurimat tähelepanu pälvida eurotsooni esimese kvartali SKT näit (kell 12.00), mis peaks kinnitama esialgset hinnangut (0,8%Q), Saksamaa aprillikuu tööstustoodangu muutus (kell 13.00) ning USA sessiooni ajal FED-i Beige Book (kell 21.00). -
Maailmapank langetab globaalse SKT kasvu tänavuse prognoosi 3,8% pealt 3,2% peale, kuid ootab kiirenemist 3,6%-le 2012. ja 2013. aastal. Pikemalt saab lugeda siit.
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Moody's ütles, et Suurbritannia võib kaotada oma AAA reitingu tänu nõrgale majanduskasvule ja suutmatusele fiskaalolukorda kiiresti lahendada. GBPUSD -0,4% ja kaubeldakse 1,6375 tasemel.
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Bloombergi vahendusel võib lugeda, et kaks Hiina ettevõtet, mille aktsia on petuskeemi kahtluse tõttu lühikeseksmüüjate rünnaku alla sattnud, kavatsevad omapoolse vastukäigu teha.
Nimelt on otsustanud Deer Consumer Products (DEER) ja Sino Energy (SCEI) kohtusse kaevata blogipidaja, keda tuntakse Alfred Little nime all. 14. märtsil kirjutas Little oma blogis, et DEER on esitanud valed ja tegelikkusest paremad majandusandmed ja DEER-i aktsia on sellest ajast saadik kaotanud 41% oma väärtusest.
Kaks firmat on New Yorkis teinud kohtule avalduse nii Little`i kui ka kõigi nende veebilehtede kohta, kes tema kirjutisi avaldasid. -
Eurotsooni esimese kvartali SKT vastavalt ootustele +0,8% (Q/Q) ja +2,5% (Y/Y).
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Saksamaa tööstustoodang aprillis -0,6% vs oodatud +0,2% (M/M), märtsi näit korrigeeriti +0,7% pealt +1,2% peale. Aastases lõikes oli kasv 9,6% vs oodatud 10,0%. Euro on sattunud surve alla ja kaupleb hetkel 0,43% madalamal $1,4625 tasemel.
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Gapping up
In reaction to strong earnings/guidance: ULTA +12.9%, OXM +5.6%, ALOG +3.3% (ticking higher), SPWRA +0.5% (also downgraded at Needham and Jefferies).
M&A news: BJ +2.1% (may receive joint bid from Leonard Green and CVC, according to reports).
Other news: RXII +8.2% (presents additional positive Phase 2 efficacy results for combination of NeuVaxTM and trastuzumab breast cancer at ASCO), NANO +5.5% (Nanometrics will replace TradeStation Group in the S&P SmallCap 600 index), CLF +0.5% (prices public offering of common shares at $85.63).
Analyst comments:RJF +2.2% (upgraded to Buy at Goldman). -
Ja nüüd siis saadi VRUS ka liikuma, hetkel kauplemas $121 tasemel.
•Pharmasset (VRUS) announced the addition of three treatment cohorts to the ELECTRON trial of PSI-7977, a nucleotide analog polymerase inhibitor, for the treatment of chronic hepatitis C. Co anticipates reporting results from the first four arms of the trial during the second half of 2011. -
Gapping down
In reaction to disappointing earnings/guidance: QNST -23.3%, CIEN -14.9%, HOV -5.6%, WPRT -3.8% (light volume), CMTL -2.2%, MCD -1.8%.
Select financial related names showing weakness: DB -1.8%, BCS -1%, CS -0.8%.
Select metals/mining stocks trading lower: BHP -2.4%, PAAS -2.4%, RIO -2.2%, SLV -2.1%, SLW -2.1%, FCX -1.9%, AU -1.8%, BBL -1.6%, MT -1.4%, AUY -1.2%, GOLD -0.7%, GLD -0.7%.
Select oil/gas related names showing early weakness: SDRL -2.3%, STO -1.6%, BP -1.5%, RDS.A -0.6%, TOT -0.5%.
A few optical related names are ticking lower following CIEN results: JDSU -5.4% (following renewed takeover chatter that was out yesterday), FNSR -3.8%, OCLR -1.2%.
Other news: OMEX -3.6% (announces public offering of 4 mln shares of common stock), RCL -3.1% (still checking), MCP -2.9% (announces proposed secondary offering of 10 mln shares of common stock by selling stockholders, announces a $200 mln convertible sr notes offering), OAS -2.2% (says unpredictable weather continue to make operations difficult and the impact on Q2 production is not fully defined), BKD -2.1% (light volume, proposed offering of $275 mln of convertible senior notes due 2018), NOK -2.1% and SAP -1.6% (still checking for anything specific).
Analyst comments: GPS -4% (trading lower; weakness attributed to tier 1 firm downgrade), FST -2% (downgraded to Neutral from Positive at Susquehanna). -
Keep It Brief
By Rev Shark
RealMoney.com Contributor
6/8/2011 8:50 AM EDT
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
-- Henry Ford
Ben Bernanke has been a consistently positive market force over the last couple years. His market-friendly policies have made it quite clear that the Fed will run its printing press, provide a gusher of cheap cash and won't worry about inflation or the impact on the dollar. That has worked quite well for a couple years now, at least as far as equity prices go.
Late yesterday afternoon, Dr. Bernanke spoke again, but this time he didn't provide any assurance that the Fed was going to extend its program of providing endless cheap money. He acknowledged the recent slowdown in employment and housing and commented that U.S. economic growth is "frustratingly slow," but he did not offer any hints that the Fed was about to embark on another round of quantitative easing in one form or another.
Even after selling off for five straight days, the market is a bit spooked by the lack of help from Dr. Bernanke this morning. The Fed has been supportive of the bulls for a very long time, and now it looks like they are admitting that they haven't really accomplished much. While they have helped to inflate the stock market and commodities, they have done little to help the economy on Main Street. Housing, employment and growth are all struggling despite the trillions of cheap dollars that have been given to banks and Wall Street.
The market is obviously worried that QE2 is coming to an end and the economy really isn't improving. That is what is causing the pressure this week. The fear of the unknown is always the most prevalent fear when the market is downtrending like it is now.
But rather than dwell on what is causing the pressure, we need to focus on how to deal with it. The change in character that I discussed last week has kicked in to such a degree now that we haven't even been able to put together a little bounce, despite being clearly oversold and stretched to the downside. We have classic downtrending action taking place, and that is causing great consternation for the dip-buyers who have been rewarded so consistently for so long.
The good news is that a gap-down open this morning is the sort of washout action that should help us to finally see some sort of bounce. It may not last long, and it might not be very big, but when we have this sort of doom and gloom after five days of selling, the conditions are pretty good for some sort of relief.
In dealing with this market, the most important thing is to be clear about you time frames. We are in a downtrend, and that means you should have raised capital, tightened up stops and developed a defensive mind-set. It is not the time to aggressively build longer-term positions.
On the other hand, markets that are breaking down like this one is can offer some good short-term trading, especially when emotions flare up like they have this morning. We can see some quick spikes, and, if we are aggressive and very short term, we can make some money trading them.
The most important thing right now is to not confuse bounces with a bottom. The serial bottom callers are going to be out there, telling us that this is a great buying opportunity and blah-blah-blah. Ignore them. Trade on the long side if you are so inclined, but don't even start considering the possibility of a low until we have healthier action. A single oversold bounce after the recent carnage doesn't indicate anything meaningful.
It is very tough slogging out there, so be careful and keep those defenses tight. The key to superior performance is navigating a poor market so that you are far ahead of the pack when better action develops once again. -
Bloombergi vahendusel võib lugeda, et Biogen Idec (BIIB), maailma suurim multiskleroosi ravimitootja on otsimas firmasid, mida üle võtta.
Firmal on vaba raha ligi $ 800 miljonit ja kõige tõenäolisemad ülevõtu kandidaadid on Elan (ELN) ja Acorda (ACOR), milledega BIIB juba ka partnerlussuhetes on. -
Nafta, mis enne turgude avanemist oli miinuses kaupleb +1.2% plussis ehk $100.3 peal. OPEC otsustas üllatavalt jätta toodangumahu muutmata, sest liikmed ei jõudnud ühisele otsusele. (link)
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The Fed purchased $6.41 bln of 2015/2016 maturities through Permanent Open Market Operations as dealers looked to put back $23.45 bln
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Business Insider on välja pannud päris huvitava graafiku, misnäitab nafta hinna liikumist alates 1861. aastast. Graafiku on kokku pannud BP ja näha on ka, kuidas erinevad sündmused nagu sõjad ja uued naftariigid hinda läbi aegade mõjutanud on.
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$21 bln 10-yr Reopening Results: 2.967%; Bid/Cover 3.23x (Prior 3.00x, 12-auction avg 3.11x); Indirect Bidders 50.6% (Prior 47.2%, 12-auction avg 49.4%)
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Pharmasset lifting in recent trade; Hearing Gleacher out positive on VRUS
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Fed Bullard Headlines: Inflation expectations down from Q1; will likely mark down his growth expectations for 2011; says fed will weigh economic data in Aug and Sept before tightening; expects stronger 2H11; economy not weak enough to warrant further stimulus
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S&P 500 Has Longest Slump Since 2009
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TXN
Texas Instruments Inc
Mid-quarter update: Lowers Q2 guidance range to $0.51-0.55 v $0.57e, R$3.36-3.5B v $3.6Be
prior Q2 guidance was $0.52-0.60, R$3.41-3.69B as of 4/18
