Market Currents

• Thursday, December 17, 2009

• 15:05 PM Basic materials issues continue to get pounded, though they've got a lot of company in the broader market - which has trimmed losses a bit. Sector losers: [[AEM]] -9.4%, [[IAG]] -9.3%. Potash (POT -4.4%) and Freeport-McMoRan (FCX -3.8%) active. With an hour left, the Dow -1% to 10,341; S&P 500 -0.9% to 1,099; Nasdaq -1% to 2,186. Crude -0.1%. Natgas +5.7%. Gold -3%, just holding on above $1,100. Comment!

• Friday, December 4, 2009

• 12:24 PM And with the dollar up, down goes gold: Futures -4% to $1,170.20. Heavy activity in Barrick Gold (ABX -8.3%). DDRGOLD (DROOY.PK) down 7.8%. Also: Silver -3.4%. Platinum -3.4%. Copper -1.1%; Freeport-McMoRan Copper & Gold (FCX) down 4.2%. Comment!

• Monday, November 30, 2009

• 08:45 AM Goldman lifts U.S. steelmakers to Attractive. "Steel and scrap prices in the U.S. have bottomed in our view, Chinese prices are rising, inventories remain low, a weak dollar has brought the U.S. close to being a net exporter, and we expect better industrial and auto demand in 2010," firm says, adding U.S. Steel (X) to its Conviction Buy list while removing Freeport-McMoRan Copper & Gold (FCX). X +3.5% premarket. STLD +3.5%. AKS +2.7%. NUE +2.3%. FCX -0.1%. 3 Comments

• Wednesday, October 21, 2009

• 09:18 AM Freeport-McMoRan Copper & Gold(FCX): Q3 EPS of $2.07 beats by $0.73. Revenue of $4.14B (-10.2%) vs. $4.24B. Reinstates dividend due to strong performance. Shares -0.1% premarket. (PR) 1 Comment
• 00:05 AM Notable pre-market earnings: AAI, AMR, APD, ATI, BA, CAL, ELN, FLIR, FCX, GENZ, HCBK, KEY, LLY, MAN, MO, MS, NITE, NOC, NTRS, OMC, PENN, STJ, USB, USG, WFC Comment!

• Tuesday, September 8, 2009

• 09:00 AM Premarket gainers: CBY +42%. ORH +25%. HMY +9%. NG +8%. STM +7%. GFI +7%. LTXC +7%. SLT +6%. AUO +6%. NXG +6%. HL +6%. VICL +6%. LYG +6%. CCL +6%. STP +6%. ALV +6%. EGO +6%. NGD +5%. LVS +5%. PAL +5%. PHG +5%. AUG +5%. NOK +5%. MT +5%. MPEL +5%. BHP +5%. GE +5%. ING +4%. GBG +4%. YGE +4%. MU +4%. RMBS +4%. GSS +4%. FNM +4%. ALU +4%. JASO +4%. FCX +4%. NVAX +4%.
  Losers: OSIR -40%. KFT -5%. MCO -5%. AIG -4%. Comment!

• Wednesday, August 19, 2009

• 08:56 AM Goldman downgrades Alcoa (AA -4% premarket) to Neutral, urging clients to rotate into Freeport-McMoRan (FCX -2.1%) "in light of our more bullish view on copper." Firm says there's little upside left in Alcoa as shares approach $13 target, noting aluminum fundamentals remain weak. Comment!

• Monday, August 17, 2009

• 09:00 AM Premarket gainers: ARIA +7%.
  Losers: IDCC -27%. RST -16%. RAS -13%. LOW -10%. ABK -10%. AXL -10%. TGB -10%. AIB -9%. FRE -9%. FNM -9%. BZH -8%. RTP -8%. YRCW -7%. CENX -7%. HL -6%. LVS -7%. NXG -7%. TCK -7%. GNW -7%. CPST -6%. FIG -6%. HD -6%. YGE -6%. HIG -6%. BCS -6%. RF -6%. LYG -6%. FCX -5%. SOL -5%. AIG -5%. MT -5%. NVAX -5%. ETFC -5%. AEG -5%. FITB -5%. HBAN -5%. ESLR -5%. RTK -5%. X -5%. CNO -5%. CS -5%. Comment!

• Thursday, August 6, 2009

• 09:15 AM Freeport-McMoRan (FCX) +1.3% premarket after Merrill/BofA upgrades shares to Buy with a target of $87 (prev. $49). Firm notes FCX is the largest pure-play copper miner, in a market lacking new supply in the pipeline, even as emerging market demand improves. 3 Comments

• Monday, August 3, 2009

• 09:00 AM Premarket gainers: AXL +15%. INO +12%. ONTY +11%. VHC +11%. BIF +9%. SVA +9%. DAN +9%. KFN +9%. VICL +8%. RBS +7%. F +7%. HUM +7%. NVAX +6%. BCS +6%. SOL +6%. HBC +6%. ERX +6%. ZQK +6%. RCL +5%. TGB +5%. FRO +5%. NXG +5%. WEN +5%. UBS +5%. EBAY +5%. FIG +5%. AKS +5%. FITB +5%. ALU +4%. TSN +4%. YGE +4%. AIB +4%. MT +4%. KEY +4%. STP +4%. FCX +4%. ELN +4%.
  Losers: HURN -73%. SVNT -25%. Comment!

• Tuesday, July 21, 2009

• 08:11 AM Freeport-McMoRan Copper & Gold (FCX): Q2 EPS of $1.38 beats by $0.69. Revenue of $3.7B (-32.3%) vs. $3.4B. Shares +3.1% premarket. (PR) 1 Comment
• 00:05 AM Notable earnings before Tuesday's open: AKS, ALV, AMTD, BJS, BTU, CAL, CAT, CMA, DD, DGX, ELN, FCX, FRX, HCBK, JEF, KO, LMT, LUV, LXK, MRK, PCP, RF, SGP, SHW, STT, UAUA, UNH, UTX, WU Comment!

• Wednesday, July 15, 2009

• 09:01 AM Premarket gainers: GCI +20%. ALU +12%. AMD +8%. INTC +7%. AIB +6%. MT +6%. ING +6%. TGB +6%. AXA +5%. PMI +5%. TSM +5%. HMY +5%. MI +5%. HBC +5%. GNK +5%. HL +4%. BCS +4%. TIE +4%. AKS +4%. NOK +4%. RCL +4%. YGE +4%. VALE +4%. IGT +4%. AUY +4%. COF +4%. EXM +4%. FCX +4%. X +4%. MU +4%. ABX +4%. UBS +4%. DB +4%. Whoa!
  Losers: PAR -22%. JNS -8%. YUM -4% 1 Comment

• Monday, June 22, 2009

• 09:00 AM Premarket gainers: MEDX +22%. AVII +12%. NSU +10%. EMKR +6%. AAUK +6%. LSI +5%.
  Losers: ALU -9%. RTP -6%. DB -5%. FRO -5%. HMY -5%. WAG -5%. STSI -5%. MT -5%. AIB -4%. AU -4%. GFI -4%. AXA -4%. HBAN -4%. FCX -4%. Comment!

• Monday, April 27, 2009

• 09:02 AM Premarket losers on swine-flu speculation: FEED -14%. RCL -13%. SFD -13%. LCC -11%. AMR -10%. CAL -9%. UAUA -9%. CCL -9%. DAL -8%. LVS -7%. MGM -5%. JBLU -5%. HST -5%.
  Other premarket losers: MTL -7%. EGLE -7%. CIT -6.5%. RF -6%. AIG -5%. STI -5%. HBAN -5%. STO -5%. HBC -5%. DRYS -4%. C -4%. BAC -4%. ABB -4%. WFFC -4%. FCX -4%. Comment!

• Wednesday, April 22, 2009

• 08:04 AM Freeport-McMoRan Copper & Gold(FCX): Q1 EPS of $0.11 misses by $0.02. Revenue of $2.6B (-54.1%) vs. $2.69B. Shares -2.4% premarket. (PR) Comment!