9:05am (EST)
The market got a breath of fresh air on Tuesday and the bulls needed it after watching the Dow fall below 10,000 on Monday. Futures were already pointing towards a slightly higher open yesterday morning but shortly before Wall Street’s lunch hour news broke on a possible rescue package for Greece.
The market soared in seconds and stayed in a solid uptrend for well over an hour before giving back some of its gains close. The Dow managed to finish with a 150 point gain and closed at 10,058. The S&P 500 added 14 ticks and closed at 1,070 while the Nasdaq tacked-on 25 points to settle at 2,150.
In earnings news, Walt Disney (DIS, $29.84, up $0.36) reported profits of $0.44 a share, down from $845 million, or $0.45 a share, from a year ago but still good enough to beat Wall Street’s figures.
Revenue came in at $9.7 billion. If you do some fancy accounting and exclude certain items which all companies do, Disney actually earned 47 cents a share. That beat the 38 cents the suit-and-ties put on the board for the company’s profits.
From the “Imagine That” department…Airgas (ARG, $61.35, up $0.80) announced that its board has unanimously rejected the buyout proposal from Air Products & Chemicals (APD, $67.95, down $0.20). The deal was announced last Friday and we told you that there had already been two previous offers.
It looks like APC will have to go hostile if it wants Airgas.
Look for some Fed news out at 10am on how they plan to unwind stimulus measures without sending the nation back into recession. As we head to press, Dow futures are up 10 points to 10,014 while the Nasdaq futures are higher by 2 to 1,753. S&P 500 futures are flat at 1,066.
Tags: Air Products & Chemicals, ARG, option picks, option signals, options alerts, stock options trading, Walt Disney earnings
This entry was posted
on Wednesday, February 10th, 2010 at 9:07 AM and is filed under Company Commentary, Market Analysis, Market Commentary, Mergers and Acquisitions.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
Futures Pointing Towards Slightly Higher Open
9:05am (EST)
The market got a breath of fresh air on Tuesday and the bulls needed it after watching the Dow fall below 10,000 on Monday. Futures were already pointing towards a slightly higher open yesterday morning but shortly before Wall Street’s lunch hour news broke on a possible rescue package for Greece.
The market soared in seconds and stayed in a solid uptrend for well over an hour before giving back some of its gains close. The Dow managed to finish with a 150 point gain and closed at 10,058. The S&P 500 added 14 ticks and closed at 1,070 while the Nasdaq tacked-on 25 points to settle at 2,150.
In earnings news, Walt Disney (DIS, $29.84, up $0.36) reported profits of $0.44 a share, down from $845 million, or $0.45 a share, from a year ago but still good enough to beat Wall Street’s figures.
Revenue came in at $9.7 billion. If you do some fancy accounting and exclude certain items which all companies do, Disney actually earned 47 cents a share. That beat the 38 cents the suit-and-ties put on the board for the company’s profits.
From the “Imagine That” department…Airgas (ARG, $61.35, up $0.80) announced that its board has unanimously rejected the buyout proposal from Air Products & Chemicals (APD, $67.95, down $0.20). The deal was announced last Friday and we told you that there had already been two previous offers.
It looks like APC will have to go hostile if it wants Airgas.
Look for some Fed news out at 10am on how they plan to unwind stimulus measures without sending the nation back into recession. As we head to press, Dow futures are up 10 points to 10,014 while the Nasdaq futures are higher by 2 to 1,753. S&P 500 futures are flat at 1,066.
Tags: Air Products & Chemicals, ARG, option picks, option signals, options alerts, stock options trading, Walt Disney earnings
This entry was posted on Wednesday, February 10th, 2010 at 9:07 AM and is filed under Company Commentary, Market Analysis, Market Commentary, Mergers and Acquisitions. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.