Interesting day today
After a down day Wednesday, the market sagged before moving up.
Interesting movers:
AAPL - Down in after hours. They are delaying their OS release to October. AAPL has been sluggish the past 2 weeks.
AMX - Up 1.2% on low volume and then down in AH on even lower volume. No news.
Oil stocks are up: ESV (+ 2.25%), CLB (+1.5%), ATW (+1.8% on strong volume and a new high)
KSU - Up 4% on no news but above average volume. Looks like funds are accumulating
MDR - Up 5% after announcing that they paid off a $250M loan and they received $272M in a tax refund. This not only makes them virtually debt free, but they have eliminated $7.5M in annual interest expense. It raises an interesting question: why would they use cash to pay off a 3% loan when they could have sunk the cash into 6% notes and earned 3% off the net difference. I don't have a good answer although they clearly are awash in cash.
NUAN - Up 2.6% on very low volume. Then a big purchase in afterhours. This keeps happening with NUAN: several large trades are managed in afterhours. It suggests that funds are closing some big orders. I recently attended a forum on cell phones and spoke with a mobile search company. Guess what - they use NUAN. In fact, he said NUAN is now the standard and he laughed at Microsoft's attempt to buy market share for an MS voice system when they bought Tellme. We discussed Google and he said that GOOD is looking at th enext generation of natural language voice recognition and that this is far in the future. Which means that the current GOOG solution is based on NUAN technology. BUy Buy buy!!!!!
TIE - Down again on heavy volume. Announcements in th enews sated that titanium production is increasing. Ummm, yes. TIE will be making more money. Why the selling? I can't help but notice that the biggest April options out there are the $35 puts & calls: almost 60% of the open interest for April. Throw in April $40s and you get 80%. This also happened last month: the stock was trading above $35 until a few days before options expiration when it fell to $34. Spooky, because the $35 calls were again the big option open interest.
Only the paranoid would declare manipulation. The smart would look to May and notice that the $40 calls are the most popular open interest. If you follow my train of thinking, TIE is heading to $40 next month.
UCTT - Up 2% on low volume
INFY - Up 3% and straight up on strong volume. In fact, all other stocks moved in mid-day but INFYS moved up all day. Tomorrow is earnings release. Looks like word is out that things are good. Should reflect well on CTSH.
IMA - Bottomed at just above $40. I hope the Biosite purchase does not happen because it adds debt and wiped out 10% of IMA stock price.
DIGE - Up 2.2% It seems to be creeping back up.
CTSH - Up 2.8% on strong volume. I am thinking that INFY news will give them some bounce back.
MVL - Up 5% on Spiderman 3 hype. Remember that MVL makes $0 off the movie and depends on licensing. Considering the competition from Pirates 3 and Shrek 3, I wonder if expectations aren't to ohigh for Spidey toys. I think Shrek will be the surprise winner because it crosses so many age groups. But I'm also behaving like a bitter old man because I want in and they keep going up. Grrrrrr. Ironman is goingto be a runaway hit, I can just feel it.
RSH - Keeps going up. They made more money on drastically lower sales (down 13%). Expectations are the same for this year - falling sales. No company in the history of stocks ever stayed up for very long with falling sales, no matter how many accounting tricks they pull. And better positioned competitors like Circuit City are having problems. The hope is that they will be bought out.
TEVA - Easing down. They are priced with a much higher P/E than RDY, which is also lagging. Hmmm. Opportunity at RDY?
TTI - I'm glad I held on. They have been on a massive roll since march - up 22%. If it breaks out above $28, then we really may be on a long term run up.
Interesting movers:
AAPL - Down in after hours. They are delaying their OS release to October. AAPL has been sluggish the past 2 weeks.
AMX - Up 1.2% on low volume and then down in AH on even lower volume. No news.
Oil stocks are up: ESV (+ 2.25%), CLB (+1.5%), ATW (+1.8% on strong volume and a new high)
KSU - Up 4% on no news but above average volume. Looks like funds are accumulating
MDR - Up 5% after announcing that they paid off a $250M loan and they received $272M in a tax refund. This not only makes them virtually debt free, but they have eliminated $7.5M in annual interest expense. It raises an interesting question: why would they use cash to pay off a 3% loan when they could have sunk the cash into 6% notes and earned 3% off the net difference. I don't have a good answer although they clearly are awash in cash.
NUAN - Up 2.6% on very low volume. Then a big purchase in afterhours. This keeps happening with NUAN: several large trades are managed in afterhours. It suggests that funds are closing some big orders. I recently attended a forum on cell phones and spoke with a mobile search company. Guess what - they use NUAN. In fact, he said NUAN is now the standard and he laughed at Microsoft's attempt to buy market share for an MS voice system when they bought Tellme. We discussed Google and he said that GOOD is looking at th enext generation of natural language voice recognition and that this is far in the future. Which means that the current GOOG solution is based on NUAN technology. BUy Buy buy!!!!!
TIE - Down again on heavy volume. Announcements in th enews sated that titanium production is increasing. Ummm, yes. TIE will be making more money. Why the selling? I can't help but notice that the biggest April options out there are the $35 puts & calls: almost 60% of the open interest for April. Throw in April $40s and you get 80%. This also happened last month: the stock was trading above $35 until a few days before options expiration when it fell to $34. Spooky, because the $35 calls were again the big option open interest.
Only the paranoid would declare manipulation. The smart would look to May and notice that the $40 calls are the most popular open interest. If you follow my train of thinking, TIE is heading to $40 next month.
UCTT - Up 2% on low volume
INFY - Up 3% and straight up on strong volume. In fact, all other stocks moved in mid-day but INFYS moved up all day. Tomorrow is earnings release. Looks like word is out that things are good. Should reflect well on CTSH.
IMA - Bottomed at just above $40. I hope the Biosite purchase does not happen because it adds debt and wiped out 10% of IMA stock price.
DIGE - Up 2.2% It seems to be creeping back up.
CTSH - Up 2.8% on strong volume. I am thinking that INFY news will give them some bounce back.
MVL - Up 5% on Spiderman 3 hype. Remember that MVL makes $0 off the movie and depends on licensing. Considering the competition from Pirates 3 and Shrek 3, I wonder if expectations aren't to ohigh for Spidey toys. I think Shrek will be the surprise winner because it crosses so many age groups. But I'm also behaving like a bitter old man because I want in and they keep going up. Grrrrrr. Ironman is goingto be a runaway hit, I can just feel it.
RSH - Keeps going up. They made more money on drastically lower sales (down 13%). Expectations are the same for this year - falling sales. No company in the history of stocks ever stayed up for very long with falling sales, no matter how many accounting tricks they pull. And better positioned competitors like Circuit City are having problems. The hope is that they will be bought out.
TEVA - Easing down. They are priced with a much higher P/E than RDY, which is also lagging. Hmmm. Opportunity at RDY?
TTI - I'm glad I held on. They have been on a massive roll since march - up 22%. If it breaks out above $28, then we really may be on a long term run up.
posted by Andrew at
5:13 PM
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