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The dollar continued to show strength on Tuesday, weighing on commodity hedges.
Gold and other precious metals often trade based as much on their value as a hedge as they do on demand for their use in the production of goods. Today is no exception, and the dollar’s continued strength against the euro is weighing heavily on commodity-driven gold and silver stocks. VM Group analyst Matthew Turner told Reuters that “there are no immediate signs of inflation anywhere for now,” but, “when inflation does start to go up, the price of gold will be rising well ahead of it.” In the short-term, however, the dollar’s rally is beating up gold and silver stocks, many of which are down by more than -3% today.
As a whole, the Gold and Silver Stocks Index is down by -3.3% today. It is now trailing the S&P 500 by -12.7% over the last month.
China Natural Resources (CHNR) is leading the fall with -12% losses. It is followed by Northgate Minerals (NXG) and Jaguar Mining (JAG), which are down by -6%.
At the start of the quarter, 92 Pro investors held Barrick Gold (ABX) among their top-15 U.S. listed equity positions, making it the most popular gold stock with the Pros. Today the stock is trading lower by -3%.
More than 50 of the Pros tracked by tickerspy held either Goldcorp (GG) or Newmont Mining (NEM) at the start of the quarter. They are both falling by more than -3% today.
Other popular stocks, Yamana Gold (AUY) and Silver Wheaton (SLW), are off by -3.5% and -2% respectively.
Crystallex International (KRY) and Nevson Resources (NSU) have managed to buck the trend today. Both stocks are up by more than 5%.
As of this writing, the Gold and Silver Stocks Index is one of the worst-10 performing tickerspy Indexes over the last month, losing -13.7%.
Posted by Owen Vater at 12:30PM on June 30th
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It takes three commas to write out Apollo Group’s (APOL) fiscal Q3 revenue – it’s first billion-dollar quarter.
Yesterday, education stocks were week on a report from Inside Higher Ed covering the government’s push for free online community college courses, a prospect that weighs heavily on for-profit education companies. Investors have quickly brushed off the negativity, however, focusing Tuesday on Apollo Group’s record breaking third quarter. The company, which runs the University of Phoenix, beat expectations across the board with $201 million of net income on revenue of $1.05 billion. A year ago the company earned $139 million on $835 million in revenue. Additionally, enrollment shot up by 22% to 420,700 — new enrollment was up 23% to 87,500. Deutsche Bank and Barclays both boosted earnings estimates for the company through 2010, the latter putting a $100 price target on the stock. Today shares are ahead by 8%, and the education sector is following.
As a whole, the Education Stocks Index is up by 2.1% today. It is now beating the S&P 500 by 15.7% over the last month.
Other big winners include recent IPO Bridgepoint Education (BPI), Career Education(CECO), and Devry (DV). All three are up by 5%, and Bridgepoint today notched a new all-time high.
ITT Educational Services (ESI) is up by 6% in the rally. Strayer Education (STRA) is ahead by 3%.
Beijing-based New Oriental Education & Technology Group (EDU) is advancing by 2% today, outperforming ChinaEdu (CEDU), which is up by 1%.
American Public Education (AEPI) is a laggard today, slipping into negative territory. Late last week, RBC Capital Markets initiated coverage on the stock with an Outperform ranking.
As of this writing, the Education Stocks Index is one of the top-15 tickerspy Indexes over the last month, gaining 14.7%.
Investors can follow the Education Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Owen Vater at 11:31AM on June 30th
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A new deal between Geron (GERN) and GE Healthcare sent the former flying on Tuesday.
Before the bell Tuesday, the General Electric (GE) division, GE Healthcare, and Geron announced an exclusive licensing agreement to develop cellular evaluation technology procured from human embryonic stem cells (hESCs). The alliance aims to assist in the discovery of new drugs, as well as the development and safety of existing ones. Under the terms of the agreement, GE Healthcare will fund the research and development and handle the production and sales of resulting products. Geron SVP David J. Earp, said, “the expertise that we have developed in scalable manufacturing and differentiation of hESCs to specific cell types is directly applicable to the production of these cells for drug discovery.” Earp also noted that GE Healthcare is an “ideal partner” for the endeavor, and expressed interest in it as a “near-term commercial opportunity.” Geron shares are soaring by 17%, and are now only -8% from a new 52-week high.
As a whole, the Stem Cell Stocks Index is ahead by 7.5% today. It is beating the S&P 500 by 13.6% over the last month.
Aastrom Biosciences (ASTM), which uses stem cell technology to assist in tissue repair, is also up big today. The stock is adding 7% to an industry-leading 31.1% rally in June.
Opexa Therapeutics (OPXA) is up by more than 6% in the rally. Neuralstem (CUR) and StemCells (STEM) follow with respective gains of 5% and 3%.
Yesterday morning, Pluristem Therapeutics (PSTI) received a $1.9 million grant from the Israeli Government. It is the fourth straight year that the company received such a grant, as the government shows continued interest in the development of technology. Shares are trading higher by 3%.
Cytori Therapeutics (CYTX) is up by 4% today. The stock has more than doubled this quarter.
Thermogenesis (KOOL) is trading higher by 2%, and Osiris Therapeutics (OSIR) is a laggard, slipping into negative territory.
As of this writing the Stem Cell Stocks Index is one of the top-20 performing tickerspy Indexes over the last month, up by 14%.
Investors can follow the Stem Cell Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Owen Vater at 10:26AM on June 30th
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Global economic stimulus efforts are supporting the engineering and construction industry.
Economic stimulus efforts from the United States and China are helping the heavy construction and engineering sector, which had been beat up in the global economic downturn. Today, analyst Sterne Agee raised its price target for Aecom Technology (ACM) to $38 from $30, upgrading the stock to Buy from Neutral. The analyst cited confidence in the company’s ability to convert backlog into revenue in fiscal year 2010. The firm said it is making the call given better visibility into government stimulus spending. The stock is up by 8%.
As a whole, the Engineering and Construction Stocks Index is up by 2.3% today. It is trailing the S&P 500 fractionally on a monthly basis.
Overseas, China Architectural Engineering (CAEI) is seeing continued benefits from last week’s announcement of a new building contract. On June 24, the company announced a deal with Shanghai Nine Dragon to work on a series of projects, the value of which is expected to exceed $500 million. Today the stock is advancing by 7%, bringing its five-day rally to an impressive 60%.
Missouri-based Insituform Technologies (INSU) and Chicago Bridge & Iron Company (CBI) are both up by 4% in the rally. Insituform is now less than -20% from its 52-week high.
Foster Wheeler (FWLT) and Fluor (FLR) are up by 2% and 1% respectively. Both of the multi-billion dollar companies have engineering operations in the energy sector.
Jacobs Engineering Group (JEC), the Index’s second-largest company, is up by 3% today. The third largest, McDermott International (MDR), is not faring as well, slipping into negative territory.
As of this writing the Engineering and Construction Stocks Index is one of the worst-75 performing tickerspy Indexes over the last month, down by -0.4%.
Investors can follow the Engineering and Construction Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 12:50PM on June 29th
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Oil refiners were up big to start the week as Chinese companies reportedly plan bids for a stake in InterOil (IOC).
InterOil shares are up by 20% today after The South China Morning Post reported thatCNOOC (CEO) and PetroChina (PTR) look to acquire a stake in the company’s natural gas project – reportedly worth up to $500 million. The drop in oil prices from last year’s heights has led to increased Chinese interest in acquisitions of overseas assets. Just last week Sinopec Group (SNP) bought Toronto-listed Addax Petroleum for $8 billion. Refiners are up across the board today.
As a whole, the Oil Refiner Stocks Index is up by 3.5% today. It remains behind the S&P 500 by -17% over the last month.
Frontier Oil (FTO), Calumet Specialty Products (CLMT), and Murphy Oil (MUR) are all ahead by more than 2% in the rally. Calumet has now rallied by 168% from its 52-week low, and is just -8% below a new 52-week high.
Texas-based Valero Energy (VLO) is up by over 1% today, outperforming most of its multi-billion dollar peers. The stock remains down by -25% over the last month.
The Index’s largest companies, Imperial Oil (IMO) and Marathon Oil (MRO) are up by 1%. Petro-Canada (PCZ) is the Index’s third-largest company at $18.4 billion. Its stock is up by 2%.
As of this writing, the Oil Refiner Stocks Index is one of the three worst-performing tickerspy Indexes over the last month, losing -17% of its value.
Investors can follow the Oil Refiner Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 11:41AM on June 29th
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Solar stocks were up on Monday after Canadian Solar (CSIQ) announced 120MW of new sales.
This morning Canadian Solar announced that it has received orders for 120 megawatts (MW) of solar modules from 24 customers in Europe, North America, and Asia. This includes an order for 30MW of modules from Systaic, half of a 60MW supply agreement between the companies that was announced last fall. Canadian Solar CEO was quoted, “We have insisted on quality products and services, long-term partnerships and prudent financial management. We are pleased that our efforts have paid off.” So are investors, as shares are up by 5%.
As a whole, the Chinese Solar Stocks Index is up by 2.1% today. It is now beating the S&P 500 by 6.8% over the last month.
Yingli Green Energy (YGE) is another big winner today, up by 5%. The stock is now up by 11% over the last month.
Trina Solar (TSL) and Suntech Power (STP) are up by 5% and 3% respectively.
LDK Solar (LDK) remains a top performer, adding 2% to its 19% five-day rally. An Index-leading nine Pro investors held LDK among their top-15, U.S.-listed equity positions at the start of the quarter.
JA Solar (JASO) and Solarfun Power Holdings (SOLF) are up by over 2% today. Solarfun is the Index’s worst performer on a monthly basis, down by -8.8%.
China Sunergy (CSUN) and ReneSola (SOL) round out the Index with 2% gains.
As of this writing, the Chinese Solar Stocks Index is one of the top-50 performing tickerspy Indexes over the last month, gaining 7.2%.
Posted by Max Magee at 10:40AM on June 29th
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China’s stocks pushed their way into positive territory on the last trading day of the week.
The Shanghai Composite Index is now up by 61% in 2009 thanks to an end of week rally by Chinese equities. While there remains concern that the rally lacks fundamental support, optimism for continued government stimulus keeps pushing stocks higher. Companies are showing big gains across the board today with top performers advancing by more than 10%.
As a whole the China Stocks and ADRs Index is up by 1.7% today. It is outperforming the S&P 500 by 9.7% over the last month.
VanceInfo Technologies (VIT) and tubing company WSP Holdings (WH) ARE leading the Index today with gains of over 11%. They are followed by AirMedia Group (AMCN), which operates digital television screens used for advertising in airports and planes.
LDK Solar (LDK) and Yingli Green Energy (YGE) are up today, outpacing China’s solar giant, Suntech Power Holdings (STP), which is down fractionally.
Search engine company, Baidu (BIDU) is up by 3%. The stock is now up by 21% over the last month. Meanwhile, online gaming company Shanda Interactive (SNDA) is adding 4% to its 10% weekly rally.
China Mobile (CHL) and Netease.com (NTES) are up by 2%. The stocks are the most popular Chinese equities among Pro investors tracked by tickerspy.
As of this writing the China Stocks and ADRs Index is the top performing tickerspy International Index over the last month, gaining 10%.
Investors can follow the China Stocks and ADRs Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 12:53PM on June 26th
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India’s benchmark gained the most in two weeks on Friday.
Indian stocks and ADRs are up in U.S. trading after the country’s Sensex Index capped its biggest daily gain in the last two weeks. Metal producers are leading the rally as investors bet that economic recovery efforts will stimulate demand. Motilal Oswal Securities fund manager Manish Sonthalia told Bloomberg that “lower taxes and more spending by the government, especially in the infrastructure sector will boost the economy.” India’s biggest metals producer Sterlite Industries (SLT) is leading the sector higher with 6% gains.
As a whole, the India Stocks and ADRs Index is ahead by 2.8% today. It is now ahead of the S&P 500 by 7.1% over the last month.
Today’s other big winners include financials HDFC Bank (HDB) and ICIC Bank (IBN). Both are up by over 5%, pushing their way into positive territory for the week.
WNS Holdings (WNS) and Tata Communications (TCL) are also up big today, advancing by 6% and 5% respectively. Tata remains down by -13% over the last month. Mahanagar Telephone (MTE) is up by less than 2%.
On the technology side, Rediff.com India (REDF) and Infosys Technologies (INFY) are up more than 2%. Patni Computer Systems (PTI) is not faring as well, up by 1%.
This morning, Tata Motors (TTM) announced an annual loss of 25 billion rupees, or over $500 million. It is the company’s first loss in eight years. Weak Land Rover sales weighed on performance. The stock is up by 1%.
The India Stocks and ADRs Index is the top performing tickerspy International Index on a weekly basis, and it trails only China over the last month.
Investors can follow the India Stocks and ADRs Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 11:53AM on June 26th
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Palm (PALM) beat expectations with its fiscal fourth quarter results, leading the sector higher to end the week.
A -70% drop in revenue led Palm to wider losses in the fourth quarter, but the company managed to top Wall Street’s expectations. For the three months ended May 30, Palm lost -$91.5 million or -78 cents a share, down from a loss of -$41 million or -40 cents a share in the same period last year. Analysts were expecting a loss of -62 cents a share. The company’s much anticipated Pre smartphone went on sale June 6, and according to interim CEO Jon Rubinstein, Palm has now “officially reentered the race.” Shares are up by 13%.
As a whole, the Personal Computer and Smartphone Stocks Index is up by 4.2% today. It is now beating the S&P 500 by 17.3% over the last month.
Nokia (NOK) shares are rising by 2% today. In an announcement earlier this week, the company said its phones will be made using Intel (INTC) processors. Bloomberg called the deal “the biggest breakthrough in Intel’s expansion into the phone market.”
Apple (AAPL) is up by 1.5%, narrowly outpacing Blackberry maker Research In Motion (RIMM).
On the personal computer side, Dell (DELL) has climbed into positive territory while Hewlett-Packard (HPQ) slipped into the red. Both are moving only fractionally.
As of this writing the Personal Computer and Smartphone Stocks Index is one of the the top-10 performing tickerspy Indexes over the last month, up by 17.7%.
Investors can follow the Personal Computer and Smartphone Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 10:41AM on June 26th
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An industry upgrade boosted ecommerce software stocks on Thursday.
The e-commerce software industry is focused on facilitating sales for online retailers and other companies. Today, the sector is benefiting from an analyst upgrade of its second largest company, Digital River (DRIV). JMP Securities analyst Sameet Sinha upped his rating on the stock to Market Outperform from Market Perform. Sinha cited the potential for a 15% free cash flow increase in 2010. Shares are up by 6%.
The E-Commerce Software Stocks Index is up by 5.3% today. The Index is now beating the S&P 500 by 4.8% over the last month.
Meanwhile, analyst Merriman made some positive comments on LivePerson (LPSN) today, sending shares up by 13%. The analyst noted the company’s strong EBITDA and cash flow, and said that the stock is trading at more than a -50% discount to its peers, and should be priced at $5 to $7 a share.
NetSuite (N) shares are up by 8% today. The company announced it is adding Google (Nasdaq: GOOG) Checkout functionality to its ecommerce platform.
Ebix (EBIX) and Art Technology Group (ARTG) are both trading higher by 5%. Both stocks are still fighting to break into positive territory on a five-day basis.
GSI Commerce (GSIC) and CyberSource (CYBS) are ahead by 3% and 2% respectively, and are within -25% of new 52-week highs. Web.com Group (WWWW) is also up by 3%.
VeriSign (VRSN), the sector’s largest player at $3.6 billion, is a laggard today. Shares are up by 1%, but remain down by -16% over the last month.
As of this writing the E-Commerce Software Stocks Index is in the top-75 performing tickerspy Indexes over the last month, up by 8.1%.
Investors can follow the E-Commerce Software Stocks Index and view related performance charts and metrics at tickerspy.com.
Posted by Max Magee at 12:28PM on June 25th
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