Money Street to Main Street: News, Views and Commentary: June 16, 2006

It’s Friday June 16, 2006, and we had some finish in yesterdays exchanging session as the Nasdaq shot up over 2.8%, the S&P 500 hopped 2.1% and the Dow pushed its way through the 11,000 imprint. Be that as it may, the volume on the Indexes weren’t as substantial as they should’ve been with these increases. It would’ve been a superior circumstance for this bounce to spread over two or three days to dodge a major pullback however the market held tight. So we may see a slight pullback today however we are searching for extra upside before the end of the week.

Presently lets investigate Natural Gas. July petroleum gas encouraged up more than 61 pennies to over $7.2 per mil BTU. That conveys us to an organization that we were reluctant about when it was over the $25 number as a result of several reasons. First it was in a descending exchanging example and second their primary wellspring of income originates from the Gulf Coast, most explicitly New Orleans, LA. Presently it’s as yet a hazardous circumstance however under $19 your drawback ought to be restricted contrasted with the upside potential.

We talked about valuable and base metals proceeding onward the upside on Thursday and that is actually what they did before the finish of the exchanging day. Bringing huge numbers of the gold, silver, and copper stocks directly alongside it. Organizations like Rio Tinto (NYSE: RTP), BHP Billiton (NYSE: BHP), Crystallex International (AMEX: KRY), Newmont Mining (NYSE: NEM), Peru Copper (AMEX: CUP) and Bema Gold (AMEX: BGO) move higher, however the huge young men didn’t do too pitiful either as Southern Copper (NYSE: PCU) added $5.94 to close at $77.94, Phelps Dodge (NYSE: PD) shot up $4.23 to close at $80.64, U.S. Steel (NYSE: X) rose $4.51 to close at $64.00 and Steel Dynamics (NASDAQ: STLD) exchanged up $4.66 to close at $55.57.

Presently the valuable and base metal stocks were not by any means the only ones to do the whatoosie, oil and oil related stocks joined the gathering as organizations like Petroleo Brasil (NYSE: PBR) which exchanged up $5.37 to close at $78.47, Oceaneering International (NYSE: OII) which exchanged up $6.59 to close at $78.96 and Ultra Petroleum (NYSE: UPL) which exchanged up $5.06 to close at $52.69 added to the rally as unrefined petroleum costs rose.

Presently we should see finish today in the oil segment as merchants might cover their short positions in front of the end of the week.

Political Front

Iranian President Mahmoud Ahmadinejad is proceeding to get however much out of this strained circumstance as could be expected as he said a lot of motivators and punishments went for inducing Tehran to diminish its atomic projects was a positive advance yet left the entryway open with respect to how they would react. So the beat goes on.

In the United States, President Bush inked the desk work that has set up the biggest sea natural life save on the planet. It is situated along a series of islands and reefs that extend 1,400 miles northwest of the principle Hawaiian Islands. So President Bush is having some fantastic luck as this is certain to attach to his ideal rating.

Adhering to the U.S., House Republicans have organized a discussion on Iraq to demonstrate support for the U.S. Troops. The plan is to drive administrators to take a position whichever way on pulling back U.S. powers from Iraq in its fourth year. This is booked to commence today.

Tid Bits

The organizer of Microsoft (NASDAQ: MSFT) and one the most extravagant individuals on earth, Bill Gates, will hang up his everyday cap at the organization by 2008, he will pass the rod to his Chief Technology Officer Ray Ozzie when he ventures down. Entryways will focus on his beneficent endeavors through the Bill and Melinda Gates Foundation. Presently bits of gossip are spreading quickly that Steve Ballmer will be the alongside step aside as the product goliath battles to figure out how to keep itself significant in the coming a very long time as organizations like Google (NASDAQ: GOOG) are nipping at its heels.

China Construction Bank is having a flame deal as they have sold a good arrangement of rested home loan resources with a presumptive worth of US$120 million (960 million yuan) to an outside speculation gathering. They just gotten 19% of the assumed worth of the benefits, so consequently the flame deal. This included both business property and land. This is only the begin as they are planned to empty another billion or more worth of repossessed contracts by year-end.

Google (NASDAQ: GOOG) is on a tear as they have quite recently uncovered an administration webpage seek, essentially this is another capacity that will permit web surfers to find information and data that are accessible on government office sites. This should prove to be useful for web surfers as well as for the administration organizations themselves, giving their workers access to data rapidly and effectively.

After a progression of inquiry and answer sessions with the U.S Attorney’s Office and the SEC, it became known that the previous CEO of the New York Stock Exchange Richard Grasso took the fifth more than multiple times amid the various sessions with them. Grasso conveyed an incentive to the NYSE amid his residency, he was assaulted for his pay bundle, which was casted a ballot on by the then individuals from the NYSE, and he keeps on being bothered as it identifies with the AIG circumstance. This is a creating circumstance.

Movers and Shakers

Some significant movers in yesterdays exchanging session included Energy Conversion Devices (NASDAQ: ENER), which exchanged up $5.44 to close at $37.43 on Thursday. The stock just rode the force of the area and you should see some finish in the present exchanging session.

GFI Group Inc (NASDAQ: GFIG) shot up yesterday after Citigroup Investment Research overhauled the stock from a Hold to A Buy. It rose $5.42 to close at $52.05.

Las Vegas Sands (NYSE: LVS) shot up $4.78 to close at $68.05, which conveys the stock nearer to its multi week high. Be that as it may, we may see a pullback on the stock after the speedy keep running up.

Steve Madden Ltd. (NASDAQ: SHOO) was moved up to a Strong Buy from an Accumulate by C.L. Ruler, this update sent the stock up $4.64 to close at $30.08. Presently the stock still has legs as it could proceed with it forward movement and come to the $33 possibly $35 mark in the coming weeks.

CEMEX (NYSE: CX) exchanged up $5.10 to close at $54.64, the organization consented to drop a US$400-500 million assertion body of evidence against the Indonesian government over a fizzled put alternative arrangement for getting a greater part stake in PT Semen Gresik. Presently despite everything it stays to be checked whether this crossing out will open the entryways for Cemex to get it done to sell its 24 or more percent Gresik stake to the Rajawali Group. In the event that they do get the green light this could help the stock further.

Bear Stearns (NYSE: BSC) kick off the money related division upward swing when they announced blockbuster numbers, the stock rose $7.36 to close at $131.56, while Goldman Sachs (NYSE: GS) exchanged up $5.62 to close at $144.12 and Black Rock (NYSE: BLK) settled in as it exchanged up $5.82 to close at $128.33. The entire area moved higher however we are not going to list each organization that climbed. A great deal of the business stocks are still not topping so watch out for them, as they are certain to move a lot higher in 2006.

Different stocks that influenced pleasant proceeds onward Thursday to incorporate Freightcar America (NASDAQ: RAIL) exchanged up $4.84 to close at $52.04, Dril-Quip (NYSE: DRQ) exchanged up $4.79 to close at $74.13, PetroChina (NYSE: PTR) exchanged up $4.71 to close at $99.18, American Commercial Lines (NASDAQ: ACLI) exchanged up 45.16 to close at $50.86,

Under Ten

A few stocks that made proceeds onward the upside under ten bucks incorporate Encysive Pharmaceuticals (NASDAQ: ENCY), the organization expressed that the Food and Drug Administration is checking on their medication to treat hypertension in the pneumonic conduits, a condition called aspiratory blood vessel hypertension. This sent the stock up over $1.96 to close at $7.01 Back in March the organization postponed its investigation with TBC3711 and the stock dropped from $9.45 to $4.60 inside two or three days, so you may even now observe some upward development on Encysive going into one week from now.

Different stocks that moved higher yesterday under ten bucks included Datalink (NASDAQ: DTLK) which exchanged up $1.21 to close at $6.16, Daystar Technologies (NASDAQ: DSTI) exchanged up 98 pennies to close at $9.38, Volcano Corp (NASDAQ: VOLC) exchanged up 95 pennies to close at $9.95, Home Solutions America (AMEX: HOM) exchanged up 90 pennies to close at $7.70, Neopharm, Inc (NASDAQ: NEOL) exchanged up 89 pennies to close at $6.87 and every minute of every day Real Media (NASDAQ: TFSM) which exchanged up 81 pennies to close at $7.69.

Killjoys

In all honesty there were a few stocks that really exchanged down yesterday and they incorporate PrimeEnergy (NASDAQ: PNRG) which exchanged down $3.33 to close at $78.47, VeraSun vitality (NYSE: VSE) the ongoing Ethanol IPO dropped down $2.85 to close at $27.15, Nutrisystem (NASDAQ: NTRI) exchanged down $2.16 to close at 457.42, TeleFlex, Inc (NYSE: TFX) dropped $2.10 to close at $51.28, Daily Journal (NASDAQ: DJCO) exchanged down $1.19 to close at $38.10 and Altus Pharmaceuticals (NASDAQ: ALTU) exchanged down $1.12 to close at $18.27.

Presently a few stocks under ten bucks that got the regal smack down yesterday incorporate Catalyst Semiconductor (NASDAQ: CATS) which exchanged down 55 pennies to close at $3.62, Himax Technologies (NASDAQ: HIMX) exchanged down 23 pennies to close at $4.77, Electro Sensors (NASDAQ: ELSE) exchanged down 17 pennies to close at $4.18 and Advanced Environmental Recycling Tech (NASDAQ: AERTA) exchanged down 13 pennies to close at $3.33.

Expert Upgrades/Downgrades

Late Analyst redesigns incorporate Coldwater Creek (NASDAQ: CWTR) which was moved up to an Accumulate from a Neutral by C.L. Ruler, Sovran Self Storage (NYSE: SSS) was moved up to a Buy from Hold by AG Edwards, Solectron Corp (NYSE: SLR) was moved up to a Peer Perform from an Under Perform by Bear Stearns and Nvidia (NASDAQ: NVDA) was moved up to a Buy from a Neutral by UBS.

Late Analyst downsize incorporate Catalyst Semiconductor (NASDAQ: CATS) which was minimized to a Hold from a Buy by Needham and Co, CV Therapeutics (NASDAQ: CVTX) which was down

Leave a Reply

Your email address will not be published. Required fields are marked *