Schaeffer's Daily Market Blog Features FuelCell Energy, Ballard Power, Southwest Airlines, Cognos, and JetBlue Airways.
Schaeffer's Market Blog for Thursday, September 22, 2005:
Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 .
9:41 AM Watch Fuel Cell Stocks As Hurricane Rita Stirs Gulf Waters
Hurricane Katrina made a large impact on fuel cell-related stocks at the end of August, and issues like FuelCell Energy (NASDAQ:FCEL), Ballard Power (NASDAQ:BLDP), and Plug Power (PLUG) rallied sharply as the hurricane hit the Gulf coast region. Since early September, these stocks have pulled back and experienced significant retracements. With Hurricane Rita now bearing down on the coast of Texas, which has a very high density of oil and natural gas refineries, these issues may see a spark in the days to come.
10:30 AM Too Much LUV for Southwest Airlines?
In yesterday's Daily Market Blog at SchaeffersResearch.com, I discussed the increasingly optimistic outlook from financial analysts on Intel (INTC) despite its poor price performance. Today, another one of the "usual suspect" names that is highly regarded by analysts but has been a poor performer received an upgrade. Before the market open, Fulcrum raised its rating on Southwest Airlines (NYSE:LUV) from "neutral" to "buy." According to Zacks, there are now nine "buy" ratings, two "hold" ratings and two "sell" ratings on LUV. As the chart below shows, analysts have been ratcheting up their outlook on LUV and have an optimistic outlook for the equity. Price performance, however, has been quite lackluster. Price performance, however, has been quite lackluster.
10:42 AM Cognos Tops Earnings, Guides Lower
According to Yahoo! Finance, Cognos (NASDAQ:COGN) offers business intelligence (BI) and corporate performance management (CPM) software solutions. COGN's solutions include BI components, analytical applications, and performance management applications.
Last night after the market close, COGN reported second-quarter earnings of 31 cents per share, a penny ahead of analyst estimates. Company revenues increased 14.5 percent year-over-year to $212 million, slightly lighter than the $212.6 consensus estimate. Unfortunately, COGN guided third-quarter earnings lower and now sees them at 36 to 39 cents per share versus the consensus estimate of 41 cents. Although the equity gapped more than six percent lower on the opening, it has mustered an intraday comeback. At last check, COGN was trading down two percent to $38.10.
2:52 PM Jet Blue - the Day After
A day after the entire country watched one of their planes make an emergency landing, I thought it'd be interesting to see how JetBlue Airways (NASDAQ:JBLU) was reacting today. As you might have expected, the shares opened lower, but they've since rebounded and are near their highs of the day, up 1.52 percent. Still, it is worth noting that this is worse than the AMEX Airline Index (XAL), which checks in at plus 2.05-percent. Technically, JBLU looks somewhat promising, as today it went right down to the March lows before rebounding. This could potentially be a nice double bottom. Then throw in last night's negative event and you've got a lot of built up pessimism. I'm not saying now is the time to go long JBLU, just observing the facts.
The above are just a few of today's Daily Market Blog entries. Click here to read all of today's Daily Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 .
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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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|Date:||Sep 22, 2005|
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