Saturday, July 6, 2013

Puma Biotechnology - Chart of the Day

Summary:

Puma Biotechnology (PBYI) is the Chart of the Day.  The cancer treatment stock has soared 396.00% in the past year and is starting to draw the attention of Wall Street. I found the stock on the New High List when sorted for frequency.

Article:

The Chart of the Day is Puma Biotechnology (PBYI).  In the last month the stock hit 15 new highs and is up 59.89% with a Relative strength Index of 80.00% and reports by major Wall Street players.

They are a biopharmaceutical company focused on the acquisition, in-licensing, development and commercialization of novel therapeutics for the treatment of cancer. Its products under development include PB272 (oral neratinib) for the treatment of patients with human epidermal growth factor receptor type 2 (HER2) positive metastatic breast cancer and gastric cancer and PB272 (neratinib intravenous) for the treatment of patients with advanced cancer.




Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 59.89% in the last month
  • Relative Strength Index 80.00%
  • Barchart computes a technical support level at 53.10
  • Recently traded at 55.80 with a 50 day moving average of 37.57
Fundamental factors:
  • Market Cap $1.60 billion
  • Earnings expected to grow 45.60% this year, decrease by 26.30% next year but increase annually by 16.30% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 2 buy and 1 hold recommendation
  • The stock is on the buy list at UBS and Stifel Nicolaus
  • Research reports have been issued by Zacks, Thompson/Reuters and ValuEngine
When a stock moves up this fast it can crash just as fast.  I'd advise using a moving stop loss at the Barchart technical support level which is 53.50 today.

Wednesday, July 3, 2013

ProofPoint - Follow-up

I had a request for a follow-up on ProofPoint (PFPT):


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 24.11% in the last month
  • Relative Strength Index 80.84%
  • Barchart computes a technical support level at 23.91
  • Recently traded at 24.97 with a 50 day moving average of 20.57
The stock hasn't broken it's momentum yet.


Demandware - Chart of the Day

Summary:

Demandware (DWRE) is the Chart of the Day.  The e-commerce software provider has drawn the attention of Wall Street and advanced 15 time and gained 42.72% in the last month.

Article:

The Chart of the Day is Demandware (DWRE).  The stock was at the top of the New High List when sorted for frequency. The stock soared 75.26% in the last year and has a Relative Strength Index of 83.17%

It provides software-as-a-service e-commerce solutions. The Company's software delivers support for websites, mobile applications and digital storefronts. It provides Demandware Commerce Center, Demandware LINK, Development Platform and Commerce Cloud. Its customers include multinational corporations, retailers, and branded consumer product manufacturers.




Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 42.72% in the last month
  • Relative strength Index 83.17%
  • Barchart computes a technical support level at 41.06
  • Recently traded at 43.43 with a 50 day moving average of 32.62
Fundamental factors:
  • Market Cap $1.31 billion
  • Revenue predicted to grow by 25.00% this year and another 34.80% next year
  • Earnings are estimated to increase by 67.60% next year and continue to increase by 32.50% annually for the next 5 years
  • Wall Street analysts issued 6 strong buy, 1 buy and 1 hold recommendation to their clients
The stock has gained a lot in the past year so exit if the stock drop 10% off its high.

SouthWest Airlines - sell signals

Today I dropped SouthWest Airlines (LUV) from the Barchart Van Meertren New High portfolio for negative price momentum:


Barchart technical indicators:
  • 64% Barchart technical sell signals
  • Trend Spotter sell signal
  • Below its 20, 50 and 100 day moving averages
  • 12.16% off its 1 year high
  • Relative Strength Index 34.12%


Tuesday, July 2, 2013

Glacier Bancorp - Chart of the Day

Summary:

Glacier Bancorp (GBCI) is the Chart of the Day for the second time this year.  The first time was back on 2/27 and since then the stock is up 34.05%. I found the stock on the New High List when I sorted it for frequency.

Article:

The Chart of the Day is Glacier Bancorp (GBCI).  If the stock looks familiar it's because it was the Chart of the Day back on 2/27 and has since gone up 34.05%.  The stock hit 17 new highs and is up 19.29% in the past month. The Relative Strength Index is 79.53%.  The stock was on the New High List.

The Bank operates as holding company for Glacier Bank, which provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in Montana, Idaho, Wyoming, Colorado, Utah, and Washington. The Banks deposit products include non-interest bearing demand accounts, interest bearing checking accounts, regular statement savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, individual retirement accounts, and reciprocal deposits.  It operates 108 locations, including 99 branches.




Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 19.29% in the last month
  • Relative Strength Index 79.53%
  • Barchart computes a technical support level at 22.75
  • Recently traded at 23.19 with a 50 day moving average of 19.81
Fundamental factors:
  • Market Cap $16.7 billion
  • P/E 19.99
  • Dividend yield 2.52%
  • Revenue projected to grow 4.20% this year and another 7.60% next year
  • Earnings estimated to increase 15.20% this year, an additional 10.70% next year and continue to grow annually by 10.00% for the next 5 years
  • Wall Street analysts issued 1 buy and 7 hold recommendations
  • Financial Strength B
This stock has risen about 56.75% YTD so watch the moving averages closely to see when it runs out of steam.

Mid Cap Picks

Today I used Barchart to sort the S&P 400 Mid Cap Index to find the stocks with the best technical indicators and charts. My list today includes Webster Financial (WBS), Ann Inc (ANN), East West Bancorp (EWBC), Firstmerit (FMER), Dreamworks Animation (DWA):

Webster Financial (WBS)


Barchart technical indicators:
  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 13.19% in the last month
  • Relative Strength Index 73.94%
  • Barchart computes a technical support level at 25.34
  • Recently traded at 26.38 with a 50 day moving average of 23.79
Ann Inc (ANN)


Barchart technical indicators:
  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 9.58% in the last month
  • Relative Strength Index 64.95%
  • Barchart computes a technical support level at 32.82
  • Recently traded at 33.55 with a 50 day moving average of 30.92



Barchart technical indicators:
  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 8.08% in the last month
  • Relative Strength Index 80.86%
  • Barchart computes a technical support level at 27.21
  • Recently traded at 28.42 with a 50 day moving average of 25.75


Barchart technical indicators:
  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 10.17% in the last month
  • Relative Strength Index 72.55%
  • Barchart computes  a technical support level at 19.76
  • Recently traded at 20.61 with a 50 day moving average of 18.45


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 18.42% in the last month
  • Relative Strength Index 74.41%
  • Barchart computes a technical support level at 25.22
  • Recently traded at 26.09 with a 50 day moving average of 22.28












Barchart Morning Call 7/2

Tuesday, July 2nd, 2013>>View Older Reports
Everything you need to know about the markets in one free daily newsletter.
E-mail:
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU13 +0.25%) this morning are up +0.25% and European stocks are down -0.65%. Asian stocks closed mostly higher: Japan +1.78%, Hong Kong -0.70%, China +0.39%, Taiwan -0.25%, Australia +2.63%, Singapore +1.03%, South Korea -0.10%, India -0.58%. China's overnight money-market rate dropped -71 bp to a 1-month low of 3.71% on speculation the PBOC is using targeted fund injections to ease a record cash squeeze. Commodity prices are mostly higher. Aug WTI crude oil (CLQ13 +0.35%) is up +0.08%. Aug gasoline (RBQ13 +0.84%) is up +0.56%, Aug natural gas (NGQ13 +1.34%) is up +0.81%, Aug gold (GCQ13 +0.12%) is up +0.24% and September copper (HGU13 -0.06%) is down -0.51%. Agriculture prices are higher. The dollar index (DXY00 +0.23%) is up +0.17%. EUR/USD ^EURUSD) is down -0.26% after Eurozone Jun producer prices unexpectedly posted an annual decline, which bolsters speculation the ECB will keep monetary policy accommodative when it meets Thursday. USD/JPY (^USDJPY) is up +0.09% at a 3-1/2 week high. September 10-year T-note futures prices (ZNU13 +0.11%) this morning are up +7 ticks.
Eurozone Jun PPI fell -0.3% m/m, the third consecutive monthly decline and a bigger drop than expectations of -0.2% m/m, while prices unexpectedly fell -0.1% y/y, weaker than expectations of unch y/y.
UK Jun PMI construction climbed +0.2 to a 13-month high 51.0, weaker than expectations of +0.4 to 51.2.
Australia's S&P 200 gained over 2% and the Australian dollar fell to a nearly 3-year low of 91.72 U.S. cents after the RBA as expected kept its overnight cash-rate at a record low of 2.75% and after RBA Governor Stevens said the Aussie dollar "remains at a high level" and may "depreciate further over time, which would help to foster a rebalancing of growth."
U.S. STOCK PREVIEW
Today’s May factory orders report is expected to show an increase of +2.0%, adding to the +1.0% increase seen in April.  Today’s June total vehicle sales report is expected to improve to 15.50 million units from 15.24 million in May.  Constellation Brands is the only company in the Russell 1000 that reports earnings today (consensus $0.40).  There are no major equity conferences this week.
OVERNIGHT U.S. STOCK MOVERS
Newmont Mining (NEM +0.77%) was downgraded to "Underperform" from "Hold" at Jefferies.
DaVita (DVA +0.29%) was downgraded to "Market Perform" from "Outperform" at Raymond James.
JPMorgan (JPM -0.57%) was upgraded to "Strong Buy" from "Outperform" at Raymond James.
CME Group (CME +0.74%) was downgraded to "Market Perform" from "Outperform" at Raymond James.
Las Vegas Sands (LVS +0.08%) was upgraded to "Buy "from "Neutral" at ISI Group.
DigiTimes reported that Samsung (SSNLF +8.57%) will launch a mini version of its Galaxy S4 in Q3.
Transocean (RIG +0.60%) was downgraded to "Neutral" from "Buy" at Citigroup.
Rowan Companies (RDC +1.03%) was upgraded to "Buy" from "Neutral" at Citigroup who raised its price target on the stock to $42 from $36.
Achillion (ACHN +2.20%) plunged nearly 20% in after-hours trading after the FDA placed a clinical hold on development of Achillion's drug sovaprevir after elevations in liver enzymes were noted in a Phase 1 healthy subject drug interaction study.
Lockheed Martin (LMT -0.37%) was awarded a $295 million government contract modification to provide system engineering and program management services to continue development of the Aegis Ballistic Missile Defense System.
Nielsen Holdings (NLSN -0.92%) will replace Sprint Nextel (S +0.71%) in the S&P 500 after the close of trading on July 8.
A. Schulman (SHLM +3.77%) reported Q3 adjusted EPS of 50 cents, well below consensus of 65 cents.
MARKET COMMENTS
September E-mini S&Ps (ESU13 +0.25%) this morning are up +4.00 points (+0.25%). The S&P 500 index on Monday climbed to a 1-week high and settled higher. Bullish factors included (1) carry-over support from a rally global stocks after the Japan Q2 Tankan large business conditions rose to 4, its highest level in 2-1/4 years, and after the Eurozone Jun PMI manufacturing index was revised up to a 16-month high of 48.8, and (2) the +1.9 point increase in the Jun ISM manufacturing index, stronger than expectations of +1.5 to 50.5. Prices fell back from their best levels on concerns over Friday's U.S. non-farm payrolls report after the employment sub-index of the Jun ISM manufacturing index fell -1.4 to 48.7, its lowest level in 3-3/4 years. Closes: S&P 500 +0.54%, Dow Jones +0.44%, Nasdaq 100 +0.61%.
September 10-year T-notes (ZNU13 +0.11%) this morning are up +7 ticks. Sep 10-year T-note futures prices on Monday closed little changed. T-notes fell on reduced safe-haven demand as global stocks rallied, but prices came off of their worst levels after the employment sub-index of the Jun ISM manufacturing index fell to its lowest level in 3-3/4 years. Closes: TYU3 -1.00, FVU3 -1.25.

The dollar index (DXY00 +0.23%) this morning is up +0.140 (+0.17%). EUR/USD (^EURUSD) is down -0.0034 (-0.26%) and USD/JPY (^USDJPY) is up +0.09 (+0.09%) at a fresh 3-1/2 week high. The dollar index on Monday closed lower after stronger stocks reduced the safe-haven demand for the dollar. EUR/USD gained after the Eurozone Jun PMI manufacturing index was revised up to a 16-month high, while USD/JPY climbed to a 3-week high as the yen weakened on reduced safe-haven demand after the Japan Q2 Tankan business conditions large manufacturing index rose to its best level in 2-1/4 years. Closes: Dollar index -0.082 (-0.10%), EUR/USD +0.00541 (+0.42%), USD/JPY +0.507 (+0.51%).
Aug WTI crude oil (CLQ13 +0.35%) this morning is up +8 cents (+0.08%) and Aug gasoline (RBQ13 +0.84%) is up +1.52 cents (+0.56%). Aug crude oil and gasoline prices on Monday rallied to 1-week highs and closed higher. Bullish factors included (1) signs of stronger global economic growth after the Jun ISM rose more than expected and the Eurozone Jun PMI manufacturing index was revised higher, and (2) heightened Middle East tensions that may threaten the world supply of crude with the ongoing civil unrests in Syria and Egypt. Closes: CLQ3 +1.32 (+1.37%), RBQ3 +0.0295 (+1.09%).
GLOBAL EVENT CALENDAR07/02/2013
US1000 ETMay factory orders expected +2.0%, Apr +1.0%.
1230 ETNew York Fed President William Dudley speaks on regional and national economic conditions to members of the Business Council of Fairfield County in Stanford, CT.
1630 ETAPI weekly U.S. oil statistics.
1700 ETJun total vehicle sales expected 15.50 million, May 15.24 million. Jun domestic vehicle sales expected 12.05 million, May 11.95 million.
UK0430 ETUK Jun PMI construction expected +0.4 to 51.2, May 50.8.
EUR0500 ETEurozone My PPI expected -0.2% m/m and unch y/y, Apr -0.6% m/m and -0.2% y/y.
CHI2100 ETChina Jun non-manufacturing PMI, May 54.3.
U.S. STOCK CALENDAR07/02/2013
Company NameSymbolTimeEvent DescriptionPeriodEPS Est (US$)
Constellation Brands IncSTZ US7/2/2013Q1 2014 Earnings ReleaseQ1 20140.397
Ford Motor CoF US7/2/2013June 2013 Sales and Revenue Release2013
Ford Motor CoF US7/2/2013June 2013 Sales and Revenue Call2013
Constellation Brands IncSTZ US7/2/2013Q1 2014 Earnings CallQ1 2014
General Motors CoGM US7/2/2013June 2013 Sales and Revenue Call2013
General Motors CoGM US7/2/2013June 2013 Sales and Revenue Release2013

Monday, July 1, 2013

America Electric Technologies - Barchart's Chart of the Day

Summary:

American Electric Technologies (AETI) is the Chart of the Day.  The computer installation products provider is beginning to get noticed by Wall Street and investors alike.  The stock had 18 new high and is up 21.61% in the last month.

Article:

The Chart of the Day is American Electric Technologies (AETI).  In the past month the stock hit 18 new highs and is up 21.61%.  The Relative Strength Index is 74.89%.  I found the stock by sorting the New High List for frequency.

The company manufactures patented zone cabling and wireless enclosures that mount in ceilings, raised floors, and in custom furniture, for routing of telecommunications cabling, fiber optics and wireless solutions to the office desktop. The concept of zone cabling reduces costs for initial network installation and facilitates moves, adds, changes and upgrades for the network installations of today and tomorrow. Its Omega Metals division manufactures its proprietary products, and also employs state-of-the-art metal fabrication and finishing techniques to public and private companies and U.S. government contractors.



Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 18 new highs and up 21.61% in the last month
  • Relative Strength index 74.89%
  • Barchart computes a technical support level at 6.98
  • Recently traded at 7.09 with a 50 day moving average of 6.17
Fundamental factors:
  • Market Cap $56.5 million
  • P/E 16.74
  • Analysts estimate earnings will increase by 164.60% this year, 16.70% next year and continue to increase annually by 19.15% of the next 5 years.
  • A Wall Street analysts has issued a strong buy recommendation and in the past few month 4 other form have issued research report on the company.
  • Financial Strength B
This stock is gaining attention and some of the movement my be on the hype and not the numbers.  You would be advised to closely watch the moving averages and turtle charts and maintain a moving stop loss near the Barchart support levels.

5 Large Cap Picks

Today I used Barchart to sort the S&P 500 Large Cap Index for the stocks with the best technical indicators and charts.  The list includes People's United Financial (PBCT), Micron Technology (MU), Charles Schwab (SCHW), Aetna (AET) and E-Trade Financial (ETFC):

People's United Financial (PBCT)


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 8.64% in the last month
  • Relative strength Index 72.44%
  • Barchart computes a technical support level at 14.77
  • Recently traded at 14.96 with a 50 day moving average of 13.82


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 22.17% in the last month
  • Relative Strength Index 70.22%
  • Barchart computes a technical support level at 13.93
  • Recently traded at 14.27 with a 50 day moving average of 11.61


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 7.65% in the last month
  • Relative Strength Index 71.31%
  • Barchart computes a technical support level at 21.08
  • Recently traded at 21.38 with a 50 day moving average of 19.01
Aetna (AET)


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 4.92% in the last month
  • Relative Strength Index 61.65% in the last month
  • Barchart computes a technical support level at 62.69
  • Recently traded at 63.35 with a 50 day moving average of 59.93


Barchart technical indicators:
  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 10.33% in the last month
  • Relative Strength Index 69.76%
  • Barchart computes a technical support level at 12.46
  • Recently traded at 12.82 with a 50 day moving average of 11.35









Barchart Morning call 7/1


Monday, July 1st, 2013>>View Older Reports
Everything you need to know about the markets in one free daily newsletter.
E-mail:
You will also receive a free subscription to the Barchart family of newsletters.
OVERNIGHT MARKETS AND NEWS
September E-mini S&Ps (ESU13 +0.50%) this morning are up +0.47% and European stocks are up +0.80%. Asian stocks closed mixed: Japan +1.28%, China +0.58%, Taiwan -0.33%, Australia -1.92%, Singapore -0.30%, South Korea -0.50%, India +0.94%. Signs of improvement in the global economy are giving a boost to stocks after Japanese Q2 Tankan large manufacturers' confidence increased for the first time in over 2-years, UK manufacturing activity in Jun rose to its highest in 2-years, and after the Eurozone Jun PMI manufacturing index was unexpectedly revised higher. Commodity prices are mostly higher. Aug WTI crude oil (CLQ13 +0.70%) is up +0.49%. Aug gasoline (RBQ13 +0.71%) is up +0.60%, Aug natural gas (NGQ13 +0.06%) is up +0.50%, Aug gold (GCQ13 +1.10%) is up +1.35% and July copper (HGN13 +2.43%) is up +2.03%. Agriculture prices are mixed. The dollar index (DXY00 -0.04%) is down -0.10%. EUR/USD (^EURUSD) is up +0.28%. USD/JPY (^USDJPY) is up +0.51% at a 3-week high as the yen fell after Japan's Q2 Tankan showed large manufacturers were the most optimistic in 2-1/4 years. September 10-year T-note futures prices (ZNU13 -0.30%) this morning are down -8.5 ticks.
The Eurozone Jun CPI estimate was +1.6% y/y, right on expectations, and the Jun CPI core was +1.2% y/y, also right on expectations.
The Eurozone Jun PMI manufacturing index was revised higher to 48.8 from the originally reported 48.7.
The Eurozone May unemployment rate rose +0.1 to 12.1% from a revised 12.0% in Apr, a record high for the data series that goes back to 1990.
The German Jun PMI manufacturing index was revised lower to 48.6 from the originally reported 48.7.
The UK Jun manufacturing PMI climbed +1.0 to 52.5, stronger than expectations of +0.1 to 51.4 and its best level in 2 years.
UK May mortgage approvals climbed to 58,200, more than expectations of 55,800 and the most since December 2009.
The Q2 Japan Tankan business conditions large manufacturing index rose to 4 from -8 in Q1, stronger than expectations of 3 and its best level in 2-1/4 years.
The China Jun manufacturing PMI fell -0.7 to 50.1, a 4-month low and right on expectations.
U.S. STOCK PREVIEW
Today’s June ISM manufacturing index is expected to show a +1.5 point recovery to 50.5 after the -1.7 point tumble to 4-year low of 49.0 in May.  The U.S. markets during this holiday-shortened week will focus mainly on Friday’s June unemployment report, which is expected to show continued modest growth in the U.S. labor market.  June payrolls are expected to show a +165,000 increase after the +175,000 increase in May.  The June unemployment rate is expected to fall -0.1 point to 7.5%.  There are no Russell 1000 companies that report earnings today.  There are no major equity conferences this week.
OVERNIGHT U.S. STOCK MOVERS
Tribune Company (TRBAA +0.18%) and Local TV jointly announced they have entered into a definitive agreement for Tribune to acquire all of Local TV's 19 television stations for $2.725 billion in cash.
Marvell (MRVL -1.01%) was upgraded to "Buy" from "Neutral" at Lazard Capital.
Apple (AAPL +0.70%) was upgraded to "Strong Buy" from "Outperform" at Raymond James.
Jeffries kept its "Buy" rating on Tesla (TSLA -1.73%) and raised its price target on the stock to $130 from $70.
BlackBerry (BBRY -27.76%) was downgraded to "Hold" from "Buy" at Societe Generale.
Marathon Petroleum (MPC +0.01%) was downgraded to "Underweight" from "Neutral" at JPMorgan.
Pandora (P +1.32%) was upgraded to "Overweight" from "Equal Weight" at Morgan Stanley with a target price of $24.
Onyx Pharmaceuticals (ONXX +1.90%) surged 15% in after-hours trading after the Financial Times reported that Amgen (AMGN -0.33%) is looking to buy the company for $120 a share.
Huntington Ingalls (HII -0.19%) was awarded a $745 million U.S. Navy contract for the inactivation of the USS Enterprise.
Standard & Poor's Ratings Service places Cooper Tire (CTB +0.61%) ratings on "Watch Negative."
MARKET COMMENTS
September E-mini S&Ps (ESU13 +0.50%) this morning are up +7.50 points (+0.47%). The S&P 500 index on Friday settled mixed on mixed economic reports. The June Chicago PMI fell -7.1 to 51.6, weaker than than expectations of -3.7 to 55.0, but the final-June University of Michigan U.S. consumer confidence rose by +1.4 to 84.1, stronger than market expectations of +0.3 to 83.0. Closes: S&P 500 -0.43%, Dow Jones -0.76%, Nasdaq 100 +0.09%.
September 10-year T-notes (ZNU13 -0.30%) this morning are down -8.5 ticks. Sep 10-year T-note futures prices on Friday closed lower. Fed Governor Stein bolstered speculation the Fed may begin to cut its bond purchases by the Sep FOMC meeting when he said policy makers should concentrate on the amount of economic progress since QE began “in making a decision in, say, September.” Declines were limited after the Jun Chicago PMI was weaker than expected. Closes: TYU3 -2.50, FVU3 +0.75.

The dollar index (DXY00 -0.04%) this morning is down -0.085 (-0.10%). EUR/USD is up +0.0037 (+0.28%) and USD/JPY ^USDJPY) is up +0.51 (+0.51%) at a 3-week high. The dollar index on Friday climbed to a 3-1/2 week high and closed higher. The dollar followed Treasury yields higher on expectations the Fed may start to taper QE by September on hawkish comments from Fed Governor Stein. USD/JPY rose to a 3-week high on reduced safe-haven demand for the yen as Chinese money-market rates fell further after PBOC Governor Zhou Xiaochuan said the PBOC will use all of the tools at its disposal to ensure market stability. Closes: Dollar index +0.275 (+0.33%), EUR/USD -0.00303 (-0.23%), USD/JPY +0.788 (+0.80%).
Aug WTI crude oil (CLQ13 +0.70%) this morning is up +47 cents (+0.49%) and Aug gasoline (RBQ13 +0.71%) is up +1.63 cents (+0.60%). Aug crude oil and gasoline prices on Friday closed lower. Aug crude posted a 1-week high early Friday after stronger-than-expected global economic data on German May retail sales and Japan May industrial production signaled economic strength, but a rally in the dollar index to a 3-1/2 week high undercut energy prices. Closes: CLQ3 -0.49 (-0.50%), RBQ3 -0.0133 (-0.49%).
GLOBAL EVENT CALENDAR07/01/2013
US1000 ETMay construction spending expected +0.6%, Apr +0.4% m/m.
1000 ETJun ISM manufacturing index expected +1.5 to 50.5, May -1.7 to 49.0. Jun ISM prices paid expected +1.0 to 50.5, May -0.5 to 49.5.
1100 ETUSDA weekly grain export inspections.
1600 ETUSDA Crop Progress.
JPN0100 ETJapan Jun vehicle sales, May -7.3% y/y.
2130 ETJapan May labor cash earnings, Apr unch y/y.
GER0355 ETRevised German Jun PMI manufacturing, previous 48.7.
EUR0400 ETRevised Eurozone PMI manufacturing, previous 48.7.
0500 ETEurozone Jun CPI estimate expected +1.6% y/y, May +1.4% y/y.
0500 ETEurozone May unemployment rate expected +0.1 to 12.3%, Apr 12.2%.
UK0430 ETUK Jun PMI manufacturing expected -0.1 to 51.2, May 51.3.
0430 ETUK May net consumer credit expected +0.7 billion pounds, Apr +0.5 billion pounds.
0430 ETUK May mortgage approvals expected 55,800, Apr 53,700.
0430 ETUK May M4 money supply expected unch m/m and unch y/y, Apr +0.3% m/m and -0.1% y/y.
U.S. STOCK CALENDAR07/01/2013
Company NameSymbolTimeEvent DescriptionPeriodEPS Est (US$)
PPL CorpPPL US8:30Western Power Distribution Update Call
SandRidge Energy IncSD USAnnual General Meeting