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Shayne Heffernan is an Economist, Trader, Fund Manager and Venture Capitalist based in Asia. He also serves as Editor and contributor at www.livetradingnews.com, Founder of The Heffernan Group and currently building the company's financial services business in China. Major shareholder and CEO... More
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  • Live Trading News Stock Talk 0 comments
    Aug 9, 2009 12:30 PM | about stocks: CROX, CY, WFC

    LTN’s Senior Analyst looks at Crocs, Inc. (CROX),   Cadence Design Systems (CDNS), Cypress Semiconductor (CY), for the 1st time in Stock Talk.

    US Stocks rallied last Friday, pushing the Standard & Poor’s 500 to a 10-month high.

    Re-cap of the US Stock Market Action for the week ending August 7, 2009

    All three major U.S. stock indexes wrapped up a fourth week of gains. The S&P 500 is now up about 50% from its 12-year closing low on March 9, 2009
     
    For the day, the Dow Jones industrial average was up 113.81 points, or 1.23 percent, at 9,370.07. The Standard & Poor’s 500 Index was up 13.40 points, or 1.34 percent, at 1,010.48. The NAS Composite was up 27.09 points, or 1.37 percent, at 2,000.25. About 73% of the S&P 500 companies so far have beaten analysts’ earnings expectations.

    For the week, the DJIA was up 2.2%, the S&P 500 was up  percent 2.3% and the NAS was up 1.1%, and the Russell 2000 index of small-capitalization stocks increased 14.78, or 2.7%, to 572.40, its biggest one-day gain since July 23. The index rose 2.8% on the week, marking its fourth-consecutive week of gains.

    This morning, the Labor Department said U.S. employers cut 247,000 non-farm jobs in July — far less than the 320,000 expected and the smallest decline in a year. The U.S. unemployment rate slipped to 9.4% in July from 9.5% in June.

    Among Friday’s earnings, AIG’s (Covered in Stock Talk recently) stronger-than-expected results reassured investors that the embattled insurer was showing signs of life. At Thursday’s close, the stock was up nearly 70% since the beginning of the week.

    Volume and Breadth: trade was about average on the New York Stock Exchange, with 1.47 billion shares changing hands, versus last year’s estimated daily average of 1.49 billion, while on the NAS, about 2.46 billion shares traded, above last year’s daily average of 2.28 billion. Advancers outnumbered decliners on the NYSE by a ratio of 4 to 1, while on the NAS, more than nine stocks rose for every four that fell.

    Stocks to Watch Today

    Crocs, Inc. (CROX), Cadence Design Systems (CDNS), Cypress Semiconductor (CY), YRC Worldwide, Inc. (YRCW), and Wells Fargo & Company (WFC).

    Click below to read the full report:

    Stocks: CROX, CY, WFC
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