Market Currents

• Thursday, October 22, 2009

• 06:39 AM Dow Chemical (DOW): Q3 EPS of $0.24 beats by $0.14. Revenue of $12.05B (+6.4%) vs. $11.85B. "The economic outlook for the rest of 2009 appears to be stabilizing with strong growth in Asia Pacific, especially China, and other emerging geographies. The global economy is now on firmer footing, and, in our view, the U.S. economy is beginning a slow and tenuous recovery, with unemployment continuing to be a drag on consumer spending." (PR) 2 Comments
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Wednesday, September 30, 2009

• 09:52 AM Dow Chemical (DOW) says its Union Carbide subsidiary completed the divestiture of Optimal Group to Malaysia's state-owned oil company Petronas for $660M to further reduce debt incurred in its acquisition of Rohm and Haas earlier this year. The company's debt had become a concern for some investors. DOW -2.1%. Comment!

• Tuesday, August 4, 2009

• 18:15 PM Dow Chemical (DOW) sells $2.75B in public notes, so that this year it can repay the bridge loan it took out to acquire Rohm and Haas. 1 Comment

• Thursday, July 30, 2009

• 07:06 AM Dow Chemical (DOW) calls a bottom: "The economic outlook for the rest of 2009 appears to be stabilizing with strong growth in Asia Pacific, especially China, where domestic stimulus programs have created demand. In our view, the U.S. economy has found bottom, but will be slow in recovering as unemployment continues to be a drag on consumer spending." (PR) Comment!
• 07:04 AM Dow Chemical (DOW): Q2 EPS of $0.05 beats by $0.14. Revenue of $11.3B (-40%) vs. $13B. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ABX, ADP, ALU, AOC, APA, ARTG, AVP, AVY, AZN, BC, BCRX, BDX, BEN, CI, CINF, CL, CLI, CMI, CMS, CNX, COL, COV, CVC, DLR, DOW, EK, ENDP, EXPE, FAF, GT, GTI, HP, INCY, IP, IRM, K, KBR, KIM, KSU, LVLT, MA, MOT, MYL, NBL, NRG, NWL, NYX, OCR, OMX, OSK, PCZ, PH, PTEN, RDS.A, RGC, RYN, SBH, SNE, SPR, TEN, TRV, TSM, TYC, VTR, WMI, WYNN, XEL, XOM Comment!

• Tuesday, July 21, 2009

• 09:00 AM Premarket gainers: JDAS +25%. INCY +18%. AKRX +12%. CAT +12%. CIT +7%. SPPI -7%. IP +7%. UAUA +6%. HEB +6%. CTIC +5%. JOYG +5%. YGE +5%. LVS +5%. JASO +5%. MGM +5%. AIB +5%. SOL +4%. WYNN +4%. DE +4%. MRK +4%. TSTR +4%. MON +4%. DOW +4%.
  Losers: RF -11%. LXK -11%. ZION -7%. AKS -5%. STT -4%. SAY -4%. Comment!

• Monday, July 20, 2009

• 10:47 AM Dow Chemical (DOW) +3.7% after Goldman reasserts its Conviction Buy rating and $23 target. Analyst Robert Koort believes Dow's expanded portfolio of specialty chemicals following the Rohm and Haas deal, representing over $30B billion in revenue, will see impressive margin recovery over the coming 18-24 months. Comment!

• Wednesday, July 1, 2009

• 08:36 AM Dow Chemical (DOW) to eliminate 2,500 positions as part of $1.3B restructuring related to the Rohm and Haas acquisition. (PR) Comment!

• Wednesday, May 13, 2009

• 13:15 PM S&P leaders: GM +7%. MRK +3%. PFE +3%. FHN +3%. JEC +3%. Laggards: GNW -24%. LIZ -23%. ODP -18%. MTG -16%. FITB -15%. DDR -15%. HBAN -14%. AKS -14%. HIG -13%. ATI -12%. GT -12%. ACAS -12%. IP -12%. MI -12%. MTW -12%. AIG -12%. RF -11%. JNY -11%. UIS -11%. PLD -11%. DOW -10%. CBG -10%. GCI -11%. MEE -10%. ZION -10%. TEL -9%. TIE -9%. LUK -9%. HAR -9%. MWV -9%. AA -9%. NUE -9%. XL -9%. WYN -9%. AIV -9%. MAS -9%. Comment!

• Thursday, April 30, 2009

• 09:04 AM Premarket gainers: MGM +55%. HGSI +28%. PCX +22%. AEG +20%. LVS +19%. FSLR +15%. DOW +14%. MPEL +12%. ARRS +11%. ING +11%. IP +10%. ESLR +10%. DRYS +9%. BCS +9%. AKAM +9%. SRZ +9%. OMX +8%. CMCSA +8%. SOL 8%. SOLF +8%. ACAS +8%. JASO +8%. SPWRA +8%. LDK +7%. RFMD +7%. UBS +7%. TYC +6%. AIB +8%. HBAN +6%. FITB +6%. WYNN +6%. RAD +6%. HBC +6%. AZ +6%. TSM +6%. RF +6%. ETFC +6%. ORLY +5%. LSI +5%. GM +5%. BAC +5%. MTL +5%. CTXS +5%. C +5%. Comment!
• 06:47 AM Dow Chemical (DOW): Q1 EPS of $0.12 beats by $0.33. Revenue of $9.1B (-38.7%) vs. $11.7B. Shares +1.4% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: APA, ASH, AZN, BC, BWA, CAH, CELG, CI, CINF, CL, CLI, CMCSA, CMS, COCO, COV, CTL, D, DLR, DOW, EK, ENTG, EQT, ERIC, EXPE, FAF, GTI, HOT, HP, IP, IRM, K, KBR, KIM, KSU, LKQX, LNT, MRO, MOT, MYL, NBL, NEM, NRG, NWL, NYX, OC, OCR, OMX, OSK, PDE, PEI, PG, PTEN, RGC, RYN, SEPR, SPR, SWY, TRV, TSM, TYC, VIA.B, WMB, WPI, XEL, XOM Comment!

• Tuesday, April 21, 2009

• 09:00 AM Premarket gainers: ELX +43%. THC +23%. COH +8%. HOGS +7%. GM +5%. UNH +4%.
  Losers: ZION -24%. HBAN -23%. FITB -16%. NTRS -14%. KEY -12%. BJS -12%. RF -12%. MGM -11%. ETFC -11%. IFX -11%. BAC -10%. BRCM -9%. BK -9%. C -8%. DT -8%. STT -8%. LVS -7%. DOW -6%. APOL -6%. STI -6%. COF -5%. PUK -5%. HIG -5%. CAT -5%. PNC -5%. Comment!

• Thursday, April 2, 2009

• 09:00 AM Premarket gainers: MGM +25%. AIB +21%. IRE +20%. EXM +17%. HBC +13%. CNO +13%. GM +13%. GNA +13%. AIG +11%. HBAN +11%. ING +11%. LVLT +9%. MT +9%. DB +9%. SANM +9%. C +9%. BAC +9%. DHI +9%. BCS +9%. ERX +8%. LYBG +8%. HIG +8%. AKS +8%. RF +8%. DYN +8%. CROX +8%. GNW +8%. HOV +8%. LVS +7%. AAUK +7%. X +7%. FITB +7%. BHP +87%. JASO +7%. DOW +7%. SOLF +7%. WYNN +7%. MAC +7%.
  Losers: CDE -5%. ELN -5%. DGP -3%. HL -3%. AUY -3%. RAD -3%. 3 Comments