Weekly Market Update Newsletter, May 4, 2009
The Week Ahead: The bankruptcy of Chrysler will lead to several more plant closures and a motion to sell the company to Fiat. General Motors will watch this process as a model for its possible reorganization. Construction spending numbers for March are due on Monday. The "Stress Test" results for banks detailing potential losses and whether they can absorb losses will be released on Thursday. In addition, chain store sales and the jobless claims numbers come out.
Stocks to Watch: General Cable (BGC) beat earnings estimates by a wide margin in its Q1 results sending its stock to a 6 month high. Dean Foods (DF) beat last years earnings handily but plans a 22.5 million common share offering that potentially dilutes current shares. Shares of PerkinElmer (PKI) surged again on higher than anticipated Q1 earnings even though they were flat from a year ago. Mettler Toledo (MTD) which makes precision scales reached its 200 moving average price after beating Q1 estimates.
Special Note: As reports for the first quarter earnings season rap up this month, investors may want to take note that although most companies are beating reduced analysts estimates, the comparisons to last years earnings and business environment are substantially lower in many cases because of the current recession. Many stocks are 6 months off their price lows and look to be completing upward corrections in the second quarter.
Commentary provided by Barry Ward, Registered Principal,
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NobleTrading Direct Access Trading
Stocks to Watch: General Cable (BGC) beat earnings estimates by a wide margin in its Q1 results sending its stock to a 6 month high. Dean Foods (DF) beat last years earnings handily but plans a 22.5 million common share offering that potentially dilutes current shares. Shares of PerkinElmer (PKI) surged again on higher than anticipated Q1 earnings even though they were flat from a year ago. Mettler Toledo (MTD) which makes precision scales reached its 200 moving average price after beating Q1 estimates.
Special Note: As reports for the first quarter earnings season rap up this month, investors may want to take note that although most companies are beating reduced analysts estimates, the comparisons to last years earnings and business environment are substantially lower in many cases because of the current recession. Many stocks are 6 months off their price lows and look to be completing upward corrections in the second quarter.
Commentary provided by Barry Ward, Registered Principal,
Click Here To Open An Account
NobleTrading Direct Access Trading
posted by NobleTrading at
9:31 AM
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