In Case You Missed Thursday
by Michael Goodman | March 25, 2011 4:44 am
Pre-quake:
- With a 5% runup since an intraday low touched eight days ago, stocks have worked themselves back to a trading range they occupied for almost three weeks prior to the earthquake/tsunami/nuclear power plant trifecta in Japan. Bulls had a lot to like about Thursday: the rally was broad-based, driven by tech, large-caps and financials, while oil prices were about as inconsequential as they’ve been in some time — other than the fact they didn’t move higher. With that, pretty much all of the beaten-down names got a free day, gambling and autos were among the best-performing sectors. Bonds were down, pushing they 10-year note yield back to 3.4% (another pre-quake level). Gold sold off, while silver set another 30-ish-year closing high, although it did retreat from its highs of the day.
- After the closing bell, shares of Research In Motion (NASDAQ:RIMM[1]) plunged nearly 12% in after-hours trading after the BlackBerry maker warned that its first-quarter profit and revenue would be below analysts’ consensus estimate. Oracle (NASDAQ:ORCL[2]) gained 2.6% after beating fiscal third-quarter earnings estimates, raising its quarterly dividend, and guiding the Street higher for its fourth-quarter profit.
- On Friday, you’ll get the third estimate on fourth-quarter real GDP, and a March report on consumer confidence.
OUT THERE SOMEWHERE:
- Out of work? New York Times (NYSE:NYT[3]) publisher expects you’ll try to steal[4] his online content.
- You had me at legion of grunts[5].
- What would a Portugal rescue[6] cost?
- Morgan Stanley’s (NYSE:MS[7]) not-so-little[8] secret.
- You could see how bottled water in Tokyo would be in demand. You could also see it running out[9].
- Silver[10] doesn’t necessarily seem played out.
- Did file-sharing destroy the music industry? Not really[11].
- Why you’d best be in energy stocks[12].
- A lotta people said buy Japan now. A lotta people did just that[13].
- Calpers[14] may be a little too bullish.
- If you had to bet on one — Groupon or Facebook[15]?
- A head-to-head ETF comparison[16] tool.
Endnotes:
- RIMM: http://studio-5.financialcontent.com/investplace/quote?Symbol=RIMM
- ORCL: http://studio-5.financialcontent.com/investplace/quote?Symbol=ORCL
- NYT: http://studio-5.financialcontent.com/investplace/quote?Symbol=NYT
- steal: http://blogs.forbes.com/jeffbercovici/2011/03/23/nyt-publisher-only-teenagers-unemployed-will-game-paywall/
- legion of grunts: http://online.wsj.com/article/SB10001424052748704461304576216652933702880.html?mod=WSJ_hp_LEFTTopStories
- Portugal rescue: http://ftalphaville.ft.com/blog/2011/03/24/525841/calculating-the-size-of-a-portugal-rescue/
- MS: http://studio-5.financialcontent.com/investplace/quote?Symbol=MS
- not-so-little: http://www.bloomberg.com/news/2011-03-23/morgan-stanley-s-deep-secret-now-is-revealed-commentary-by-jonathan-weil.html
- running out: http://www.reuters.com/article/2011/03/24/us-tokyo-radiation-water-idUSTRE72N5GH20110324?WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_%20com&WT.z_smid_dest=Twitter
- Silver: http://www.zerohedge.com/article/coeur-dalene-ceo-sees-gold-1500-silver-mid-40s-year-pan-american-silver-reduces-production-f
- Not really: http://arstechnica.com/tech-policy/news/2011/03/is-file-sharing-the-global-future.ars
- energy stocks: http://www.bespokeinvest.com/thinkbig/2011/3/23/sp-500-and-sector-q1-earnings-growth-estimates.html
- did just that: http://www.nytimes.com/2011/03/24/business/global/24yen.html?_r=1
- Calpers: http://falkenblog.blogspot.com/2011/03/calpers-rosy-assumptions.html
- Groupon or Facebook: http://www.theatlantic.com/business/archive/2011/03/is-groupon-worth-more-than-facebook/72959/
- ETF comparison: http://etfdb.com/tool/etf-comparison/
Source URL: https://investorplace.com/2011/03/in-case-you-missed-thursday-5/