FirstAlert: 4-4:35 P.M. Investrend / Bestcalls
Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
To The 6000s (By Genevieve Hawkins) -- Economic concerns may have swamped bargain hunters last week, but a considerable rally could be baked into the cake if the Dow starts playing around with numbers in the 6000's. Last week Obama's budget plan and the government's deal to take a 36% stake in Citibank compounded dour economic data, leaving the major indexes crashing through their November lows. Continuous government intervention has been counterproductive to the stock market as of late, so perhaps Germany's rejection of a new bailout plan overseas will spark a needed rally. For the week, investors will be bracing for news about the unemployment rate and for readings from the Fed's Beige book of economic indicators. Clearly the markets are faring poorly with the economy stuck in a negative feedback loop, but many stocks are now reaching value levels. With the S&P and the Dow both recording over 11% losses in February, a rebound should statistically be building momentum. That's provided the bottom doesn't truly fall out during the current crisis.
The Investrend Earnings Calendar features ABM Industries (NYSE: ABM), expected at $0.19; Central European Distr. (NASDAQ: CEDC), expected at $1.03; Conseco (NYSE: CNO), expected at $0.29; DISH Network (NASDAQ: DISH), expected at $0.49.
The Investrend Economics Calendar lists Personal Income & Consumption Spending for January (8:30 a.m.), ISM Manufacturing Index for February (10 a.m.), Construction Spending for January (10 a.m.), Treasury auctions 3&6-month bills.
The Investrend Events Calendar showcases BFB, CPB, DELL, TBL at Financial Times Sustainable Business, Responsible Investing Conference; DDR, EXR, CLI, WRI at Citi 2009 Global Property CEO Conference; DNA Investment Community Meeting; GLW, CRM, ACN, FSLR, AMAT at Morgan Stanley Technology Conference; IPG, LEAP, TDS, VIA at Deutsche Bank Securities Media and Telecommunications Conference; TRV, AHL, AIZ, UNM at AIFA Confernece.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 11 advancers versus 38 decliners and one unchanged. Advancers were led by Citigroup Pfd Ser Aa (NASDAQ: C-PP) up 46.90%. Decliners followed Citigroup Inc (NYSE: C) down 39.02%, Huntington Bancshares Incorpora (NASDAQ: HBAN) down 26.26%, Bk Of America Cp (NYSE: BAC) down 25.75%, Wells Fargo & Co New (NYSE: WFC) down 15.97%, Financial Bull 3x (NYSE: FAS) down 15.66%, Hartford Fin Svc (NYSE: HIG) down 14.80%, Regions Financial Cp (NYSE: RF) down 13.20%, Ultra Financials Pro (NYSE: UYG) down 10.98%, Morgan Stanley (NYSE: MS) down 8.39%, Fifth Third Bancorp (NASDAQ: FITB) down 7.86%, Gen Electric Co (NYSE: GE) down 6.48%, Applied Materials, Inc. (NASDAQ: AMAT) down 6.40%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.nea.org/readacross/index.html
Quote of the Day: "One Galileo in two thousand years is enough." Pope Pius XII
Today is: Namesake Day, NEA's Read Across America Day.
Happy Birthday: Thomas Bodley, Joel Roberts Poinsett, Sam Houston, Dr. Seuss, Mel Ott, Desi Arnaz, Mikhail Gorbachev, John Irving, Lou Reed, Peter Straub, Eddie Money, Gates McFadden, Karen Carpenter, Laraine Newman, Ian Woosnam, Jon Bon Jovi.
Today in History: Alexander II became Tsar of Russia in 1855. Nevada Territory and Dakota Territory were organized as political divisions of the United States in 1861. In 1877, the U.S. Congress declared Rutherford B. Hayes the winner of the election even though Samuel J. Tilden had won the popular vote on November 7, 1876. The Convention of Constantinople was signed in 1888, guaranteeing free maritime passage through the Suez Canal during war and peace. Captain James Gallagher landed his B-50 Superfortress Lucky Lady II in Fort Worth, Texas, in 1949, after completing the first non-stop around-the-world airplane flight in 94 hours and one minute. In Hershey, Pennsylvania, in 1962, Wilt Chamberlain of the Philadelphia 76ers scored 100 points against the New York Knicks, breaking several National Basketball Association records. Chrysler acquired American Motors in 1987. Data sent from the Galileo spaceprobe in 1998 indicated that Jupiter's moon Europa has a liquid ocean under a thick crust of ice.
[FirstAlert" was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert" do not necessarily reflect the opinions of Investrend.]
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