Schaeffer's Today's Market Features: J.C. Penney, Lowe's Companies, Home Depot, Wal-Mart Stores, and Jabil Circuits.CINCINNATI -- Among the stocks featured in the November 27 edition of Schaeffer's Today's Market are J.C. Penney (NYSE NYSE See: New York Stock Exchange :JCP See Java Community Process. JCP - Java Community Process ), Lowe's Companies (NYSE:LOW), Home Depot (NYSE:HD), Wal-Mart Stores (NYSE:WMT (Windows Media Technologies) See Windows Media. ), and Jabil Circuits (NYSE:JBL JBL James Bullough Lansing (audio/speaker engineer) JBL Journal of Biblical Literature JBL John Bradshaw Leyfield (wrestler) JBL Jonathan Bell Lovelace (investment research) ). Schaeffer's Today's Market is just one of the many free market commentaries written every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. Today's Market is written throughout every trading day by Schaeffer's financial analysts and traders. The entries are quick updates on the day's most notable market activity and news. To have our weekly column Monday Morning Outlook delivered to you free via email, click on the following link and you'll also get an opportunity to win an iPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMS A full featured ERP system for the AS/400 from SSA Global Technologies, Inc., Chicago IL (www.ssaglobal.com). PRMS dates back to 1980 when the PCR company released its Resource Management System (RMS) software. In 1987, Pansophic Systems acquired PCR and added the "P" to the "RMS. 13M&PAGE=1. Don't forget that many of our observations are available as audio presentations that you can hear on your computer or download from Apple's iTunes Music Store to play on a portable device such as an iPod. To see the full menu of podcasts, please visit http://www.schaeffersresearch.com/commentary/podcasts/. 9:47 AM Cyber Monday Kicks Off U.S. futures are pointed lower as we head into the first full trading session on Wall Street in about five days. Despite what appears to be a negative start to the session for equities, commodities are faring pretty well in electronic trading, with both gold and crude oil gaining ground in pre-market trading. Retailing concerns could be the focus of much speculation today, as some preliminary results from the Black Friday buying spree begin to roll onto the Street. According to some of the early reports rolling in, sales are seen about six percent higher than last year, arriving at about $9 billion. According to ShopperTrak RTC See real time clock. , preliminary data indicates that sales were "relatively strong," while J.C. Penney (NYSE:JCP) noted that the holiday season was off to a "good start." Keeping with the retailing theme, Wal-Mart Stores (WMT) announced over the weekend that U.S. same-store sales fell 0.1 percent during November, marking the company's first such drop since 1996. In other news, WMT also agreed to a joint venture with India's Bharti Enterprises in order to gain a foothold in a market that has been closed to foreign companies. Finally, home-improvement retailers could see a bit of a lift today. Banc of America Securities upgraded Lowe's Companies (NYSE:LOW) to "buy" from "neutral," setting a price target of $43 per share. According to the brokerage, "Fundamentals have not bottomed, but valuation may have as we believe the market is beginning to look through the potential trough." Banc of America Securities also lifted its price target on Home Depot (NYSE:HD) to $45 from $42 per share. 12:30 PM Fire Sale on Wall Street If you were looking for a fire sale on "Cyber Monday" on the Street, you might want to wait until the smoke clears. Currently, the major market indices are in a tail spin, with the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. (DJIA DJIA See Dow Jones Industrial Averager (DJIA). - 12,148.50) dropping more than 130 points on the session. Wal-Mart Stores (NYSE:WMT) has placed a lodestone lodestone: see magnetite. on the Dow, as the retailer's first U.S. same-store sales decline since 1996 has the equity trading lower by nearly two percent. Elsewhere, the S&P 500 Index (SPX (Sequenced Packet EXchange) The transport layer protocol in the NetWare operating system. Similar to the TCP layer in TCP/IP, it ensures that the entire message arrives intact. SPX uses NetWare's IPX as its delivery mechanism. - 1,385.83) has plowed past the 1,400 level to trade some 15 points lower on the session, while the Nasdaq Composite (COMP - 4,417.3) has given up about 43 points. The falling U.S. dollar is being largely being blamed for today's wave of red, as the old greenback greenback, in U.S. history, legal tender notes unsecured by specie (coin). In 1862, under the exigencies of the Civil War, the U.S. government first issued legal tender notes (popularly called greenbacks) that were placed on a par with notes backed by specie. continued to lose ground against the euro today. At last check, the U.S. currency was down 0.3 percent versus the euro. However, the dollar has gained 0.1 percent against the yen on the session. This week's economic reports could be the savior of the dollar, however, as many investors are waiting on pins and needles pins and needles pl.n. A tingling sensation felt in a part of the body numbed from lack of circulation. Idiom: on pins and needles In a state of tense anticipation. for some confirmation that the U.S. economy isn't quite as bad as the speculation touts it to be. Not all equities are in the red today, as Thor Industries (THO tho also tho' conj. & adv. Informal Though. Noun 1. Tho - a branch of the Tai languages Tai - the most widespread and best known of the Kadai family of languages ) is up more than two percent after the company reported first-quarter net earnings of $32.6 million, or 58 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Revenue fell 4.4 percent to $727.7 million from $761.3 million. Analysts were expecting a profit of 60 cents on revenue of $703.8 million. 2:48 PM Commodities Rally Amid Broad Market Weakness As we head into the final hours of this Monday session of trading, the wave of selling on the Street is showing no signs of relenting. At last check, the Dow Jones Industrial Average (DJIA- 12,126.7) had dropped more than 150 points and is poised to close its first session below its 10-day and 20-day trendlines since November 3. Meanwhile, the S&P 500 Index (SPX - 1,383.89) is off more than 17 points, also below its 10-day and 20-day trendlines. What's more, the SPX is currently in the process of testing key support in the 1,380 region. Finally, while the Nasdaq Composite (COMP - 2,414.2) had plunged more than 45 points on the session, the tech-laden index still maintains the support of its rising 20-day moving average. Checking in on commodities, gold for December delivery benefited from the dollar's weakness. The malleable metal closed its first session of trading on the NYMEX See New York Mercantile Exchange. NYMEX See New York Mercantile Exchange (NYM). following the holiday break higher by $11.60 an ounce at $640.60. Meanwhile, crude oil for December delivery was last seen higher by 68 cents at $59.92, following news that Saudi Arabia's oil minister is open to supporting another cut in production at the December meeting of the Organization of Petroleum Exporting Countries Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. . In equities, Jabil Circuits (NYSE:JBL) has given up more than four percent after Moody's placed its rating on the company on review for possible downgrade. Moody's said that the actions reflect the company's plan to acquire Taiwan Green Point Enterprises for roughly $900 million in cash. For more information on these stocks or any stock in your portfolio, feel free to visit our Schaeffer's Equity Scorecard feature. Click here to read all of the Today's Market entries: http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB PROB Probable/Probably PROB Problem PROB People's Republic of Bangladesh 13C&PAGE=1 . Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day and get entered to win an IPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRMS13M&PAGE=1. About Schaeffer's Investment Research (www.SchaeffersResearch.com) Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, http://www.SchaeffersResearch.com , is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method . |
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