Chesapeake Energy (CHK) has recently broken out of its sideways trend as investors revisit the beaten down stock. Chesapeake rose to $22.80 in today’s trading session on higher than average volume. 13.5M shares exchanged hands versus the 10M average. Chesapeake is one of the dominant natural gas producers in the United States, though the company does produce some oil as well. Despite the price of natural gas inching downward to $3.80, oil moved up nicely past the $81 mark.
The stock is currently trading above its 50-day moving average but below its 200 day moving average. The Markets Are Open has kept Chesapeake at a Hold rating.
The full report can be read here.
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Friday, October 1, 2010
Old News Becomes New Again for Transocean LTD (NYSE:RIG)
New York- Transocean shares have rocketed in September up 18.44% but the stock is still down 32% from its 52 week high a long investor would argue. The old news involves the indemnification of Transocean regarding the BP oil spill. Transocean was the party in charge of the rig, when the Macondo Rig sunk to the bottom of the ocean and the well began gushing on April 20th. The well finally stopped gushing on July 15. What is new again is the question of will Transocean be indemnified?
Kenneth Austin of Moody's stated in late August "While no one knows what that impact will be [of Macondo], it could be significant” for Transocean." Transocean is indemnified but there are always reasons why a contract is broken between parties.
To see Edwards full report Click Here
Kenneth Austin of Moody's stated in late August "While no one knows what that impact will be [of Macondo], it could be significant” for Transocean." Transocean is indemnified but there are always reasons why a contract is broken between parties.
To see Edwards full report Click Here
(NYSE:JCP) Selling For Pennies?
New York- J.C. Penny (JCP) one of America's leading and oldest retailer has seen its stock rebound in the month of September. However, is the stock possibly cheaper now, than in August despite a higher price. Andy Kibbens CEO of the Markets Are Open seems to think so he said "while a stock may have a more expensive price, the fundamentals may be so much better that the stock is actually cheaper."
On September 28th JCP had an investor presentation CEO of JCP Mike Ullman stated "The tops business was very strong for us as well as all of the most desirable private brands as well as younger brands we have introduced like Uproar in girls. I think the opportunity in the bottom's business we really stand for having the best denim assortment in the industry." Kibbens noted that denim is very popular, and that it is a huge positive to have the best assortment in the industry. Kibbens stated "this is huge news, denim is definitely the most important fabric to be number one in."
J.C. Penny is moving into the online retail business and hopes to generate more of its future sales from this business.
To see his full report Click Here
On September 28th JCP had an investor presentation CEO of JCP Mike Ullman stated "The tops business was very strong for us as well as all of the most desirable private brands as well as younger brands we have introduced like Uproar in girls. I think the opportunity in the bottom's business we really stand for having the best denim assortment in the industry." Kibbens noted that denim is very popular, and that it is a huge positive to have the best assortment in the industry. Kibbens stated "this is huge news, denim is definitely the most important fabric to be number one in."
J.C. Penny is moving into the online retail business and hopes to generate more of its future sales from this business.
To see his full report Click Here
Bank Of America Corp(NYSE: BAC) Is For Closers Only
Bank of America closed in the green for the day. The bank stock struggled throughout the day and finally received its footing in midday. Despite the Dow having the strongest September since 1939, the banking stocks closed the month with only modest gains. Banking stocks have continually been under pressure from investors. BAC and the other banking stocks appeared to be still valued for the worst. BAC finished the day up over 1% as the overall banking index rallied. The top performers where Citigroup, JP Morgan and PNC Financial.
To see the BAC report Click Here
To see the BAC report Click Here
PNC Financial Services (NYSE:PNC) Closes The Day Weak
PNC stock has been under pressure in September. PNC which was one of the top performers in the banking index today had a poor September. PNC was one of the few stocks not to increase in September. Allan Edwards CEO of The Markets Are Open noted that there is still a lot of value in this stock, and that it should outperform the banking index going forward. PNC was up 1.77% as we headed to the close.
To see Edwards full report Click Here
To see Edwards full report Click Here
Quadra FNX Mining (TSE:QUX) Creeps Higher as Copper Rises
Quadra FNX Mining Ltd. (QUX) gained a modest 1.80% in early afternoon trading, as investors put their money in gold and copper stocks. The fast growing mining company had been hit hard in previous months as Quadra Mining and FNX Mining combined forces. In the last 3 months however Quadra FNX Mining has risen over 56%. The company trades with a PE of 11.5 even as gold prices soar to recent highs. Gold is only a fraction of Quadra FNX’s total production however. Copper has been the real driver of the stock price, as demand from China has grown steadily. Copper sells at $3.65 a pound and continues to reach recent highs day by day.
“Quadra FNX Mining is an excellent way to play the rise in copper.” Said Andy Kibbens CEO of The Markets Are Open. “As China develops their infrastructure they will need massive amounts of copper. Quadra is the place to be.”
To read Kibbens’ full report click here.
“Quadra FNX Mining is an excellent way to play the rise in copper.” Said Andy Kibbens CEO of The Markets Are Open. “As China develops their infrastructure they will need massive amounts of copper. Quadra is the place to be.”
To read Kibbens’ full report click here.
Hewlett Packard Company (NYSE:HPQ) May Have Chosen Unwisely
Hewlett-Packard Company has selected Leo Apotheker as its new CEO, following the renowned Mark Hurd. Apotherker has a history at German software company, SAP. However investors worry that he will not have the judgment and charisma to lead HP to successful growth and innovation in the future. They believe that the new CEO is unseasoned.
HPQ stock sold off in today’s trading session. The stock is down $3.8% as the new leadership is not up to par.
HPQ stock sold off in today’s trading session. The stock is down $3.8% as the new leadership is not up to par.
Is U.S. Steel (NYSE: X) a Steal?
U.S. Steel will report its Quarter 3 earnings on October 25th. The stock has struggled in a range of $39 to $48 following its Q2 results. Investors felt these results were weak, however CEO of The Markets Are Open, Andyraw Kibbens felt they were particularly strong. He noted that the company incurred a charge for a loan they had in Euros and without this the company was profitable.
He noted that he expected Q3 and Q4 to be weaker, as U.S. Steel has begun idling certain plants which means demand is weaker. However, he noted that he expected to see U.S. Steel reverse its loss in the Euro in Q3 meaning they will report a profit.
To see his full report on U.S. Steel Click Here
He noted that he expected Q3 and Q4 to be weaker, as U.S. Steel has begun idling certain plants which means demand is weaker. However, he noted that he expected to see U.S. Steel reverse its loss in the Euro in Q3 meaning they will report a profit.
To see his full report on U.S. Steel Click Here
Bank of America Corp (NYSE: BAC) Lags The KBW Banking Index
New York- Currently the KBW Bank index which is a measure of the largest banks in the U.S. is soaring over 1.2 % while Bank of America is currently only up 0.52% in early trade. The stocks bears appears to be continually winning the fight, on pushing the stock price lower, despite improving fundamentals.
Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries (the Banks) and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Commercial Banking, Global Banking & Markets, Global Wealth & Investment Management, with the remaining operations recorded in All Other.
Bank of America Corporation is a bank holding company, and a financial holding company. The Company is a financial institution, serving individual consumers, small and middle market businesses, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries (the Banks) and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Commercial Banking, Global Banking & Markets, Global Wealth & Investment Management, with the remaining operations recorded in All Other.
Apple Inc. (AAPL) Starts The Day Strong
Apple Inc is soaring in the premarket, the stock is currently up $2.05 or 0.8%. Apple is rallying after the stock has pulled back over the last week.
Currently, the market is moving higher on new optimism on personal income, which bodes well for Apple.
To read the full Apple report, click here.
Apple Inc. (Apple) designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers. In addition, the Company sells a variety of third-party Macintosh (Mac), iPhone and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and various other accessories and peripherals through its online and retail stores, and digital content and applications through the iTunes Store. The Company sells to consumer, small and mid-sized business (SMB), education, enterprise, government and creative customers. In December 2009, the Company acquired digital music service Lala.
Currently, the market is moving higher on new optimism on personal income, which bodes well for Apple.
To read the full Apple report, click here.
Apple Inc. (Apple) designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers. In addition, the Company sells a variety of third-party Macintosh (Mac), iPhone and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and various other accessories and peripherals through its online and retail stores, and digital content and applications through the iTunes Store. The Company sells to consumer, small and mid-sized business (SMB), education, enterprise, government and creative customers. In December 2009, the Company acquired digital music service Lala.
Is Apple Inc (AAPL) taking another breather?
Shares of Apple (AAPL) traded modestly lower today, pulling back after a steep run-up in the past month. Some investors are looking at the short term parabolic chart and selling their shares hoping to buy them back at lower prices. However, Apple may offer solid long term prospects as its iPad and iPhone 4 spread to new countries all across the globe.
“Not only are the analysts underestimating the strength of the iPad,” said Andy “Raw” Kibbens, co-CEO of The Markets Are Open, “But they don’t even consider new products such as Apple TV in their estimates. The new iPods are also coming out. All these can be huge for Apple.”
Kibbens increased his price target for Apple back in May to $333 per share. The stock has risen steadily since then.
To read the full Apple report, click here.
“People fret about Apple’s market capitalization,” Kibbens said, “But this innovator’s just getting started. Next stop - Exxon.”
“Not only are the analysts underestimating the strength of the iPad,” said Andy “Raw” Kibbens, co-CEO of The Markets Are Open, “But they don’t even consider new products such as Apple TV in their estimates. The new iPods are also coming out. All these can be huge for Apple.”
Kibbens increased his price target for Apple back in May to $333 per share. The stock has risen steadily since then.
To read the full Apple report, click here.
“People fret about Apple’s market capitalization,” Kibbens said, “But this innovator’s just getting started. Next stop - Exxon.”
Prudential Financial (PRU) Cashes In On Wachovia
Prudential exercised a put option on Wachovia Securities in late 2009, that forced Wells Fargo the new parent of Wachovia to pay Prudential 4.5 billion for its minority stake.
Prudential Chairman and CEO John R. Strangfeld announced that Prudential would be looking to spend this money in 2010. Today, Prudential announced that it has paid $4.2 billion in cash for two Japanese life insurance units owned by AIG.
The purchase includes AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. AIG will take a 3rd quarter charge of 1.2 billion related to the sale, meaning Prudential may realize a 1.2 billion dollar gain. Andyraw Kibbens the CEO of The Markets Are Open pointed out that its likely the fair value of the sale by AIG is above the price Prudential paid meaning Prudential will record a gain in the next quarter.
The acquisition allows Prudential to expand and leverage its financial strength and use the financial crisis as a way to grow its business.
To see the full report on Prudential Click Here
Prudential Chairman and CEO John R. Strangfeld announced that Prudential would be looking to spend this money in 2010. Today, Prudential announced that it has paid $4.2 billion in cash for two Japanese life insurance units owned by AIG.
The purchase includes AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. AIG will take a 3rd quarter charge of 1.2 billion related to the sale, meaning Prudential may realize a 1.2 billion dollar gain. Andyraw Kibbens the CEO of The Markets Are Open pointed out that its likely the fair value of the sale by AIG is above the price Prudential paid meaning Prudential will record a gain in the next quarter.
The acquisition allows Prudential to expand and leverage its financial strength and use the financial crisis as a way to grow its business.
To see the full report on Prudential Click Here
Gamco Investors (GBL), Should We Play The Game?
Allan Edwards CEO of The Markets Are Open has found another stock which has a dual class structure. GAMCO Investors (GBL), CEO Mario Gabelli has nearly 95% of the voting shares and 72% of the equity interest. Gabelli was once thought of as a famed investor but has had his reputation tarnished in recent years. There have been two high-profile lawsuits filed against his companies ended in combined settlements reportedly worth $230 million. He has also faced protests from his own investors over his large annual salaries.
To See Edwards full Report on GAMCO Investments Click Here
GAMCO Investors, Inc., (GBL) is a provider of investment advisory services to mutual funds, institutional and private wealth management investors, and investment partnerships, principally in the United States. Through Gabelli & Company, Inc. (Gabelli & Company), it provides institutional research services to institutional clients and investment partnerships. It generally manages assets on a discretionary basis and invests in a variety of United States and international securities through various investment styles. Its revenues are based primarily on the firm’s levels of assets under management (AUM) and to a lesser extent, incentive fees associated with its various investment products. It also offers a series of investment partnership (performance fee-based) vehicles that provide a series of long-short investment opportunities, both market and sector specific opportunities, including offerings of non-market correlated investments in merger arbitrage, as well as a fixed income strategy.
To See Edwards full Report on GAMCO Investments Click Here
GAMCO Investors, Inc., (GBL) is a provider of investment advisory services to mutual funds, institutional and private wealth management investors, and investment partnerships, principally in the United States. Through Gabelli & Company, Inc. (Gabelli & Company), it provides institutional research services to institutional clients and investment partnerships. It generally manages assets on a discretionary basis and invests in a variety of United States and international securities through various investment styles. Its revenues are based primarily on the firm’s levels of assets under management (AUM) and to a lesser extent, incentive fees associated with its various investment products. It also offers a series of investment partnership (performance fee-based) vehicles that provide a series of long-short investment opportunities, both market and sector specific opportunities, including offerings of non-market correlated investments in merger arbitrage, as well as a fixed income strategy.
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