Stocks on the move
Real-time equity news
U.S. stock market report
1725 ET 20April2010
Apple jumps, Yahoo slips after results
Shares of Apple Inc surged 6 percent to $259.23 in late trade, extending an all-time high after the company's results blew past expectations on record iPhone sales.
But on the downside, Yahoo Inc slipped 2.7 percent to $17.88 as its earnings beat forecasts but revenue fell a hair short.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1640 ET 20April2010
Wall St buoyed by energy, reporting companies slip
U.S. stocks rose as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations.
'Earnings overall are good, but you'd better beat these heightened expectations or else your stock is going to take a breather after the run we've had going into earnings,' said Peter Boockvar, equity strategist at Miller Tabak & Co in New York.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1452 ET 20April2010
Options investors positive on Apple ahead of earnings
Options investors appeared to be taking a slightly bullish stance on Apple Inc ahead its earnings report after the bell. Wall Street, on average, expects Apple to report first-quarter earnings of $2.45 per share, up from $1.33 in the year-earlier period, according to Thomson Reuters I/B/E/S. The StarMine SmartEstimate, which weights analyst projections based on their track record, expects slightly higher earnings of $2.51 earnings per share. Apple has beat its own forecast in every earnings report since 2003, and its outlook is likely to be conservative, analysts at Birinyi Associates Inc said in a note. But Apple might have to blow away expectations to see a pronounced gain in shares after other bellwethers reported strong results and markets shrugged. Apple shares were down nearly 1 percent at $244.90. The stock has climbed more than 15 percent so far this year, outperforming the Nasdaq Composite index .
Reuters Messaging: angela.moon.reuters.com@reuters.net
1440 ET 20April2010
S&P poised for new year highs if closes above 1,210.50
The S&P 500 is poised for a technical break-out to fresh highs on the year if it closes above 1,210 on Tuesday. Despite signals that stocks are overbought, the early wave of strong Q2 results offer a compelling fundamental factor to put money in equities. Sean Lusk, a senior futures and options broker in PFGBEST in Chicago pegs if the S&P ends 1,210.50, it will test chart resistance at 1,220, then 1,225. If it fails to finish above the 1,210.50 mark, it will likely test support at 1,179-1,180 and fill a gap at 1,197.87-1,199.04 that opened up on Tuesday.
Reuters Messaging: richard.leong@reuters.com@reuters.net
1327 ET 20April2010-Goldman shares to take almost a year to recover
Birinyi
Goldman Sachs in unlikely to recover from its recent steep fall until early next year, according to a study that looked at around 20 significant stocks that have fallen due to fundamental company specific events.
The study by Birinyi Associates shows that stocks that experience big one day declines, on average, take 298 days to fully recover to their pre-drop price.
'This implies that not until February 2011 will Goldman Sachs once again trade at $184,' the firm said.
The study eliminated most reactions to earnings and guidance as well as those related to the Internet bubble and the financial crisis.
Goldman Sachs fell around 13 percent on Friday after U.S. regulator SEC said it was bringing a civil fraud suit against the company. The shares were trading down 1.3 percent at $161.15 on the New York Stock Exchange on Tuesday.
Reuters Messaging: edward.krudy@reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Real-time equity news
U.S. stock market report
1725 ET 20April2010
Apple jumps, Yahoo slips after results
Shares of Apple Inc surged 6 percent to $259.23 in late trade, extending an all-time high after the company's results blew past expectations on record iPhone sales.
But on the downside, Yahoo Inc slipped 2.7 percent to $17.88 as its earnings beat forecasts but revenue fell a hair short.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1640 ET 20April2010
Wall St buoyed by energy, reporting companies slip
U.S. stocks rose as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations.
'Earnings overall are good, but you'd better beat these heightened expectations or else your stock is going to take a breather after the run we've had going into earnings,' said Peter Boockvar, equity strategist at Miller Tabak & Co in New York.
Reuters Messaging: leah.schnurr.reuters.com@reuters.net
1452 ET 20April2010
Options investors positive on Apple ahead of earnings
Options investors appeared to be taking a slightly bullish stance on Apple Inc ahead its earnings report after the bell. Wall Street, on average, expects Apple to report first-quarter earnings of $2.45 per share, up from $1.33 in the year-earlier period, according to Thomson Reuters I/B/E/S. The StarMine SmartEstimate, which weights analyst projections based on their track record, expects slightly higher earnings of $2.51 earnings per share. Apple has beat its own forecast in every earnings report since 2003, and its outlook is likely to be conservative, analysts at Birinyi Associates Inc said in a note. But Apple might have to blow away expectations to see a pronounced gain in shares after other bellwethers reported strong results and markets shrugged. Apple shares were down nearly 1 percent at $244.90. The stock has climbed more than 15 percent so far this year, outperforming the Nasdaq Composite index .
Reuters Messaging: angela.moon.reuters.com@reuters.net
1440 ET 20April2010
S&P poised for new year highs if closes above 1,210.50
The S&P 500 is poised for a technical break-out to fresh highs on the year if it closes above 1,210 on Tuesday. Despite signals that stocks are overbought, the early wave of strong Q2 results offer a compelling fundamental factor to put money in equities. Sean Lusk, a senior futures and options broker in PFGBEST in Chicago pegs if the S&P ends 1,210.50, it will test chart resistance at 1,220, then 1,225. If it fails to finish above the 1,210.50 mark, it will likely test support at 1,179-1,180 and fill a gap at 1,197.87-1,199.04 that opened up on Tuesday.
Reuters Messaging: richard.leong@reuters.com@reuters.net
1327 ET 20April2010-Goldman shares to take almost a year to recover
Birinyi
Goldman Sachs in unlikely to recover from its recent steep fall until early next year, according to a study that looked at around 20 significant stocks that have fallen due to fundamental company specific events.
The study by Birinyi Associates shows that stocks that experience big one day declines, on average, take 298 days to fully recover to their pre-drop price.
'This implies that not until February 2011 will Goldman Sachs once again trade at $184,' the firm said.
The study eliminated most reactions to earnings and guidance as well as those related to the Internet bubble and the financial crisis.
Goldman Sachs fell around 13 percent on Friday after U.S. regulator SEC said it was bringing a civil fraud suit against the company. The shares were trading down 1.3 percent at $161.15 on the New York Stock Exchange on Tuesday.
Reuters Messaging: edward.krudy@reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.