Welcome, Guest. Please login or register.

Author Topic: Energy Stocks  (Read 573 times)

0 Members and 2 Guests are viewing this topic.


  • Hero Member
  • *****
  • Posts: 734
  • Karma: 1
    • View Profile
Energy Stocks
« on: May 12, 2011, 03:37:46 PM »
Daily Market Commentary for May 12, 2011

At the center of attention today, energy stocks continued their slide as demand jitters tied to high gasoline prices stoked selling against a backdrop of industry executives testifying on Capitol Hill about prices at the pump. (read more at Millennium-Traders.Com)

Cisco Systems, Inc. (NasdaqGS: CSCO) moved lower today on concerns over weak outlook and the uncertainty surrounding its ongoing reinvention. Into early afternoon, shares were lower by 4%. Cisco reportedly beat earnings estimates but, signaled that it expects to see a weak fiscal Q4. Company unveiled plans to cut $1 billion in annual costs and to reduce its workforce, as Chief Executive John Chambers reaffirmed plans for major changes.

Kohl's Corporation (NYSE: KSS) was higher by 3% in early afternoon trading as investors appeared to focus on the retailer’s upbeat outlook for the year and shrug off concerns about a shortfall in same-store sales and inventory growing at a faster pace than sales. Kohl's reported Q1 earnings rose 6%, helped by online sales and demand in the Southeast, offsetting weakness of seasonal sales in the Midwest and Northeast.

ProShares Ultra Silver (NYSEArca: AGQ) continues to be a front row player as shares were rebounding some of early morning losses, with a loss in early afternoon trading of over 11 points.

Sina Corporation (NasdaqGS: SINA) received a smack-down in early afternoon trading, down 3% and lower by over 3 points.

Goldman Sachs Group, Inc. (NYSE: GS) suffered a loss by early afternoon of 6 points, down over 4% after reports that the risk of a lawsuit against the company from the U.S. Department of Justice is growing. The attack against Goldman will be backed by a 650 page Senate report signed by both a Democrat and a Republican.

Economic data released today:

Retail Sales: Mar Retail & Food Sales Revised to +0.9% from +0.4%; U.S. Apr Retail & Food Sales Ex-Autos +0.6%; U.S. Apr Retail & Food Sales +0.5%; Consensus +0.6%.

PPI [Producer Price Index]: U.S. Mar PPI Unrevised at +0.7%; U.S. Apr Passenger Car Prices +0.5%; U.S. Apr PPI Energy Prices +2.5%; U.S. Apr PPI Crude Goods +4.0%; Core +2.6%; U.S. Apr PPI Intermediate Goods +1.3%; Core +1.1%; U.S. Apr PPI Ex-Food & Energy +0.3%; Consensus +0.2%; U.S. Apr Producer Prices +0.8%; Consensus +0.7%.

Initial Jobless Claims: U.S. Jobless Claims -44K To 434K in May 7 week; Survey -46K.

Continuing Jobless Claims: U.S. Apr 30 Week Jobless Claims revised to 478K From 474K; U.S. Apr 30 week Continuing Claims +5K to 3,756,000.

Bloomberg Consumer Confidence: U.S. Bloomberg Consumer Comfort Index -46.9 last week.

Business Inventories: U.S. Mar Business Inventories +1.0%; Expected +0.9%

Viewers may opt-in to our free Weekly Market News sent via email on the first trading day of the week. Review market news and active stocks from the previous week plus, see what is ahead for the upcoming trading week.

Detailed performance for stocks, futures or forex by date on our News & Commentary. Access our FREE Monthly Trading Lesson posted on our website.

Access a one week trial to our Weekly Swing Trades service. View detailed historic performance from our News & Commentary page.

Follow us now on Twitter

Viewers Poll: Do you think the U.S. Government should release photos of the body of Bin Laden?

Thanks for reading


Related Topics

  Subject / Started by Replies Last post
2 Replies
Last post April 02, 2010, 09:55:33 PM
by Deez
0 Replies
Last post September 16, 2007, 12:00:34 PM
by The Web Team
0 Replies
Last post September 17, 2007, 05:00:32 PM
by The Web Team
2 Replies
Last post September 02, 2008, 03:13:00 PM
by Jasper
0 Replies
Last post January 06, 2009, 11:06:23 AM
by godoftrading
0 Replies
Last post January 08, 2009, 05:01:03 PM
by The Web Team
0 Replies
Last post August 31, 2009, 03:47:00 PM
by MTnews
0 Replies
Last post September 13, 2010, 03:22:26 PM
by MTnews
0 Replies
Last post November 01, 2010, 03:30:45 PM
by MTnews
0 Replies
Last post March 16, 2011, 03:26:00 PM
by MTnews