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Weekly Wrap for 1/11/09

That was ugly. The bulls did not have a good week as the bears got the best of them as the major indexes took an average loss of 4%. The was headline news from quite a few of the bigger names that weighed on the market and a nasty unemploymentRead more

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Everybody's Working For The Weekend

The first full week of trading is coming to a close and it sure feels good have the weekend coming up. After a couple of weeks with holidays, the market worked full-time this week and appears to be headed for a lower week. Wall Street has been hit with aRead more

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Merger Activity Off To Fresh Start

ThinkorSwim Group (SWIM, $8.34, up $2.69) was acquired by TD Ameritrade (AMTD, $13.40, down $0.08) yesterday in a sign that could signal more M&A activity is on the way. We have already seen the wave of mergers that the government has arranged between the banks but this deal was doneRead more

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Market Turns Around/ AutoZone Update

AutoZone (AZO, $135.42, up $0.42) traded lower most of the session until a late day rally pushed the stock into positive territory. With the Dow tanking 200 points to start the morning, AutoZone followed suit after a higher opening. Today got ugly after Wal-Mart (WMT, $51.38, down $4.16) warned andRead more

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Wal-Mart Gets Whacked

Wal-Mart (WMT, $51.52, down $4.02) is feeling the blues this morning as Wall Street is punishing the stock after the company cut its fourth quarter earnings forecast. The company now expects earnings of $0.91-$0.94 a share, versus a prior forecast of $1.03-$1.07 a share. Wal-Mart blamed bad weather and lowerRead more

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AutoZone Topping Out

Believe it or not, AutoZone (AZO, $135.68, down $3.52) has been testing its 52-week high in recent days and has been unsuccesful in its bid to take out $143. Today’s decline should be watched closely if the stock is unable to rebound. We were recently successful in an AutoZone putRead more

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Family Dollar Catches Fire

Family Dollar Stores (FDO, $27.73, up $3.40) is having an outstanding day after announcing earnings that were better-than-expected. The company also raised its second-quarter outlook after posting higher December sales. Quarterly sales rose 4% to $1.8 billion while comparable-store sales climbed 2%. For the quarter, the company earned $59 million,Read more

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Opening View

The market is starting off the session with a triple-digit loss. The Dow is down 109 points to 8905 after a worse-than-expected ADP employment report. The futures were pointing toward a slightly higher start but that early morning sentiment was dashed once the news hit Wall Street. The report whichRead more

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Imax Shares Rising

Imax (IMAX, $4.95, up $0.42) is up another 10% today as we head into the final hour of trading. The stock has been in a steady uptrend since an update from December 3. At the time, I had listed several Movie/ Entertainment stocks to keep an eye on but likedRead more

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Orexigen Therapeutics Up Sharply After-Hours

Orexigen Therapeutics (OREX, $5.89, down $0.10) was up sharply in after-hours trading on news that the company could be announcing something concerning its treatment drug for obesity, Contrave. The company will presenting at a JPMorgan (JPM, $29.25, down $2.10) conference next week which means the rumor mill got started earlyRead more

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