Market Wrap for Thursday February 17, 2011

Major Corporate & Economic Events, Feb. 18 

FRIDAY, Feb. 18 
Extended-Hours Earnings: AGP, B, BRC, CPN, CPB, CMED, DLR, GFI, LPNT, 
NYSE up 34.72 (+0.4%) to 8,418.39 
DJIA up 29.9 (+0.2%) to 12,318 
S&P 500 up 4.11 (+0.3%) to 1,340 
Nasdaq up 6.02 (+0.2%) to 2,832 
Hang Seng up 0.63% 
Nikkei up 0.26% 
FTSE up 0.03% 
WMB beats with earnings, announces dividend, splitting in two cos. 
CAB gains on financial results. 
HEB settles class action lawsuit. 
WTW beats with results, guidance. 
DUK gains after earnings beat. 
RBCN continues evening gain that followed upbeat earnings, guidance. 
TBL beats with Q4 earnings. 
NVDA downgraded this morning after late-Wednesday earnings 
OREX says CFO to resign. 
NTAP continues evening decline that followed results, guidance. 
ANAD disappoints with guidance. 
Tech shares were leading gainers. Nvidia (NVDA) was up sharply after an 
upbeat revenue forecast. Its results follow positive figures from Dell 
(DELL) earlier this week. 
Crude futures closed higher. A report that two Iranian warships were 
sailing toward the strategic Suez Canal helped to boost oil prices — and 
energy shares. The news weighed on stocks earlier, with civil unrest in 
the Middle East increasing. 
A trio of U.S. economic reports offered a mixed picture. The Philadelphia 
Federal Reserve said its index of Mid-Atlantic business activity rose in 
February to its highest level since January 2004. The index rose to 35.9 
in February from 19.3 in January–higher than the 20.8 expected by 
Meanwhile, U.S. consumer prices rose a seasonally adjusted 0.4% in 
January, the Labor Department reported Thursday, driven by higher food 
and energy expenses. The core consumer price index, which strips out 
volatile food and energy costs, rose 0.2%. Economists surveyed by 
MarketWatch had forecast CPI to rise 0.3% overall, with a 0.1% increase 
in the core rate. Consumer prices are up 1.6% over the last 12 months. 
Also reported today, first-time applications for U.S. unemployment 
benefits rose last week by 25,000 to 410,000, the Labor Department 
reported. Economists polled by MarketWatch had expected initial claims in 
the week ended Feb. 12 to rise to a seasonally adjusted 400,000 from a 
revised 385,000 the week before. 
Citigroup (C) Bloomberg reported that the bank granted options on $18.2 
million shares to 15 executives as a part of their 2010 pay. Among the 
executives receiving options are COO John Havens, head of consumer 
banking for the Americas Manuel Medina-Mora and CFO John Gerspach. 
Shares of Coca-Cola Co. (KO) wsaid its board boosted the company's 
dividend by 7% to 47 cents a share from 44 cents. Shareholders of record 
on March 15 will be paid the dividend on April 1. 
Strayer Education (STRA) reports Q4 revs of $172 mln, about in line to 
just lower than the Street view of $173 mln on Thomson Reuters. EPS was 
$2.73, eight cents better than the analyst consensus. 
J.M. Smucker (SJM) reports adjusted Q3 EPS of $1.27 compared to $1.17 a 
year earlier and just topping the Thomson Reuters mean analyst estimate 
for $1.26. Sales for the quarter improved to $1.3 billion from the $1.2 
billion recorded in the same period a year earlier. The Street looked for 
$1.25 billion. 
TRW (TRW) reports Q4 sales of $3.7 bln, ahead of the analyst consensus of 
$3.48 bln on Thomson Reuters. EPS was $1.72, vs. expectations of $1.24 
per share. 
Build-A-Bear (BBW) reports Q4 revenue of $125.8 mln, up from $123.1 mln 
in the year ago quarter and about in line with the Street view. Earnings 
were $0.44 per share, including items, up sharply from a year ago loss of 
$0.05 per share, including items. The Street view was $0.26 per share, ex 
Duke Energy (DUK) reports adjusted Q4 EPS of $0.21 compared to $0.28 a 
year earlier and the Thomson Reuters mean analyst estimate for $0.23. 
Operating revenue of $3.4 billion is up from $3.1 billion a year earlier. 
The Street was at $3.15 billion. 
Barrick Gold (ABX) reported Q4 EPS of $0.95, up from $0.61 per share in 
the year ago quarter and better than the Street view of $0.84 per share.
Posted in Commentary, Earnings, Futures, Options, Stocks, Watchlist