December 29, 2016: Markets opened higher Thursday but were unable to hold onto early gains, probably due to some selling as traders get their ducks in a row for the new year. Equities have bounced around the break-even line most of the day. Utilities is the best performing sector while financials is the worst. WTI crude oil for February delivery settled at $53.77 a barrel, down about 0.5% on the day. February gold added about 1.5% on the day to settle at $1,157.70. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.05% for the day, the S&P 500 traded down 0.03%, and the Nasdaq Composite traded down 0.14%.
Stocks traded very near the break even line and the closing bell might see some shifts in which side of the line the indexes close on.
The DJIA stock posting the largest daily percentage loss ahead of the close Thursday was JPMorgan Chase & Co. (NYSE: JPM) which traded down 1.04% at $85.60. The stock’s 52-week range is $52.50 to $87.39. Volume was about 45% below the daily average of around 17.7 million shares. The company had no specific news Thursday.
Top 5 Gold Stocks To Own Right Now: Phillips 66(PSX)
- [By Matthew DiLallo]
After facing several challenges in 2016 that pushed down results, Phillips 66 (NYSE:PSX) bounced back big-time in the first quarter. The company trounced the consensus estimate by a whopping $0.51 per share, which was roughly 10 times higher than the $0.05 per share analysts expected.
- [By Sarfaraz Khan]
Also note that Berkshire Hathaway has direct exposure to the US energy sector through its subsidiary Berkshire Hathaway Energy, which is a power company that also owns two interstate natural gas pipelines. Besides, Berkshire Hathaways stock portfolio also has some exposure to the energy sector. The company owns 80.7 million shares of Phillips 66 (NYSE:PSX), a major US-based refiner that is also expanding in the midstream space, valued at almost $7 billion. Phillips 66 represents more than 5% of Berkshire Hathaways stock portfolio. The conglomerate also owns 20 million shares of the pipeline giant Kinder Morgan (NYSE:KMI), valued at $414.2 million. These energy companies are positioned to benefit from Donald Trumps pro-energy policies and de-regulation.
- [By WWW.KIPLINGER.COM]
Refiners and downstream energy stocks have really gone to town as oil prices have listed lower in a relatively tight range. Phillips 66 (PSX) is among those winners.
- [By Virendra Singh Chauhan]
Another piece of the Berkshire puzzle which could ride a tailwind is the investment in oil major Phillips 66 (NYSE:PSX). With OPEC recently making a move to support oil prices with supply cuts, a rising oil price will benefit the oil major which made up just over 5% of Berkshire’s stock holdings at the end of the September quarter. PSX stock price is up 11% over the last one month and could be headed further higher if the demand/supplydynamics of the oil market are brought under control. (See also: Berkshire Stock: Should Investors Worry About Warren Buffett’s Latest Investments?)
- [By Matthew DiLallo, Tyler Crowe, and Jason Hall]
Oil prices haven’t gotten off to the fast start many expected, falling around 6% on average during the first quarter of the year. That slump came despite OPEC’s best efforts since producing nations have achieved fairly good compliance on their planned output cuts. That said, despite the lackluster oil market, we still see some interestingopportunities in the oil market. Three stocks we really like right now are DistributionNOW(NYSE:DNOW),Phillips 66(NYSE:PSX), andConocoPhillips(NYSE:COP), which all should do well in the current oil market.
Top 5 Gold Stocks To Own Right Now: BlackBerry Limited(BBRY)
- [By Sreekanth Anasa]
San Diego, California-based smartphone chipmakerQUALCOMM, Inc. (NASDAQ:QCOM)is scheduled to report its second-quarter fiscal 2017 earnings on April 19th, after market close. However, the world’s largest smartphone chipmaker’searnings are in danger of being overshadowed again by its legal troubles. In the last trading session, QCOM stock fell almost to its lowest levels this year after news of the San Diego company losing an arbitration case against BlackBerry (NASDAQ:BBRY) came out. The setback, to refund a sum of nearly $815M to the software company, camewithin a few days after Qualcomm filed a counter lawsuit against Apple (NASDAQ:AAPL). Of late, Qualcomm has been in the news for all the wrong reasons. Qualcomm had a mixed Q1 earnings. With the focus now shifting to the company’s latest earnings, Can QCOM stock build some momentum going into Q2 earnings? Should you buy QUALCOMM, Inc. (NASDAQ: QCOM) stock at its lowest levels in 2017 ahead of Q2 earnings? Let’s ta ke a closer look.
- [By Kumar Abhishek]
Yesterday, software and services company BlackBerry (NSDQ:BBRY)released its Q3 2017 earnings report. It was Blackberry’s first earnings after the company decided to shut down its legacy handset division. The earnings report appears to be more of the same. The Waterloo, Ontario-based company once again reported an earnings beat and a miss on revenues. The company reported a Non-GAAP EPS of $0.01 on revenue of $301 million against the analysts’ estimates of -$0.02 EPS on revenue of $332 million. BlackBerry stock rallied more than 3% just after the earnings were announced in pre-market trading.However, the stock moved lower as the market began to digest the ER, closing down by almost 3%.
- [By WWW.THESTREET.COM]
For those remaining QWERTY keyboard aficionados out there, BlackBerry (BBRY) hardware partner TCL launched the BlackBerry KeyOne, a phone that pairs a 4.5-inch display with a physical keyboard and BlackBerry apps/services. It sells for $549 unsubsidized.
- [By Kumar Abhishek]
Shares of Ontario-basedsoftware companyBlackBerry Ltd (NASDAQ:BBRY) jumped more than 16% in yesterday’s trade,creating a new 52-week highafter the company announced that it has won a windfall of $814.9 million in an interim arbitrationaward against Qualcomm (NASDAQ:QCOM).Moreover, the arbitration award is not appealable by Qualcomm. The final award which will include interest rates and legal fees will be decided on May 31st. The windfall gain has earned BBRY stock price target upgrades from several analysts. The arbitration relates to an overpayment of royalty by BlackBerry Ltd between 2010 and 2015. The question now is, does this one-time award change anything for BlackBerry Ltd stock?
- [By Abdul Jawula] BlackBerry Ltd (BBRY) tries to revive the brand but is it too little too late for BBRY stock?
BlackBerry (NSDQ:BBRY) had a smartphones market share of 20% in 2009, which has dropped off a cliff to 0.1% in present day. Blackberry has tried to revive the brand many times. However, they had a similar problem likeMicrosoft (NSDQ:MSFT)hadwith the Windows Phone project. Their refusal to adopt Android resulted in their smartphones becoming less-and-less desirable.
Top 5 Gold Stocks To Own Right Now: Nustar Energy L.P.(NS)
- [By Roberto Pedone]
One technology player that insiders are active in here is Jive Software (NS), which provides a social business software platform to businesses, government agencies, and other enterprises. Insiders are buying this stock into massive weakness, since shares are down sharply by 43% so far in 2014.
Jive Software has a market cap of $446 million and an enterprise value of $365 million. This stock trades at a fair valuation, with a price-to-sales of 2.68 and a price-to-book of 5.67. Its estimated growth rate for this year is 45.5%, and for next year it’s pegged at 30%. This is a cash-rich company, since the total cash position on its balance sheet is $98.18 million and its total debt is $6.60 million.
A director just bought 260,819 shares, or about $1.71 million worth of stock, at $6.53 to $6.60 per share.
From a technical perspective, JIVE is currently trending just above its 50-day moving average and below its 200-day moving average, which is neutral trendwise. This stock recently pulled back off its short-term high of $7.14 a share with heavy downside volume flows. That drop has now pushed the stock to right above its 50-day moving average at $6.10 a share.
If you’re bullish on JIVE, then I would look for long-biased trades as long as this stock is trending above its 50-day at $6.10 a share and then once it breaks out above some key near-term overhead resistance levels at $7.14 a share to its 200-day moving average of $7.43 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 557,678 shares. If that breakout triggers soon, then JIVE will set up to re-test or possibly take out its next major overhead resistance levels $8.50 to $9 a share, or even $9.50 to $10 a share.
Must Read: 10 Stocks George Soros Is Buying
Top 5 Gold Stocks To Own Right Now: International Game Technology(IGT)
- [By Dan Caplinger]
Thursday was another strong day on Wall Street, with major benchmarks posting gains across the board. The S&P 500 reached another all-time high on strength from an upbeat view of the economy and good earnings results from major companies in the retail sector. Although energy prices sagged, investors seemed to focus on the cost savings that consumers would enjoy from cheaper gasoline rather than the profit hit that major oil and natural gas companies might suffer. Still, not every stock participated in the rally, and International Game Technology (NYSE:IGT), Genesco (NYSE:GCO), and Ensco (NYSE:ESV) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.
- [By Dan Caplinger]
Yet even though the overall market remained resilient in the face of some threats to positive sentiment among investors, some stocks posted substantial losses. Stratasys (NASDAQ:SSYS), International Game Technology (NYSE:IGT), and Momo (NASDAQ:MOMO) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.
- [By Michael Flannelly]
Analysts at Sterne Agee noted on Monday that International Game Technology’s (IGT) fiscal 2014 growth is stronger than it appears. As such, the analysts raised the price target on the casino gaming equipment manufacturer.
The analysts maintain a “Buy” rating on IGT and now see shares reaching $25, up from the previous target of $23. This new price target suggests a 23% upside to the stock’s Friday closing price of $20.32.
“Excluding FY13 Canadian VLT sales, which do not recur in FY14, consensus FY14 EPS growth is ~14% versus ‘in-print’ consensus EPS growth of ~4%,” Sterne Agee analyst David Bain said. “We believe IGT’s peer-low stock valuation is partly driven by a misinterpretation of forward growth using ‘in-print’ FY14 EPS projections.”
Futhermore, the firm raised IGT’s fourth quarter EPS estimates from 33 cents to 34 cents.
IGT shares were inactive during pre-market trading on Monday. The stock is up 43.4% year-to-date.
Top 5 Gold Stocks To Own Right Now: DSP Group Inc.(DSPG)
- [By Lisa Levin]
Technology shares rose by 2 percent in the US market on Friday. Top gainers in the sector included Fabrinet (NYSE: FN), and DSP Group, Inc. (NASDAQ: DSPG).