12:10pm (EST)
The bulls are still running, albeit at a slow pace, as the market is higher for the third consecutive day. The Dow is currently enjoying a 20 point pop and is at 10,328. The S&P 500 is back at 1,100 and is up a point while the Nasdaq is higher by 4 and is trading at 2,229.
The Dow started off in negative territory but got a lift after the Philadelphia Federal Reserve Bank said its business activity index rose to 17.6 from 15.2 in January. It was better-than-expected news as new orders jumped to their highest in more than five years. The boys on the Street were expecting a reading of 17.
Elsewhere, the index of leading economic indicators rose 0.3% last month but was weaker than the 1.2% rise in December and a 1.1% rise in November. It was also the smallest of the index’s 10 straight monthly gains and short of the 0.5% growth that was expected. Despite the weaker-than expected results, it still showed that the economy continues to chug along.
Toyota Motors (TM, $73.71, down $0.39) continues to feel the heat as another model has been called into question. The Corolla may have a potential power-steering problem that could involve up to a half million vehicles.
The U.S. Transportation Department plans to open a formal investigation despite Toyota saying it has received fewer than 100 complaints with the Corolla, the world’s best-selling car.
This could put Toyota’s recalls in the double-digit millions…the company has already recalled 8.5 million of its cars because of problems with sticking gas pedals, floor mats and braking systems.
We wanted to send today’s update out a little early because we have a NEW TRADE that we profile in our Members Area. The options are already up 10% but we think we can squeeze a double out of the trade by mid-March.
Tags: option picks, option signals, options alerts, stock options trading, Toyota Motors
This entry was posted
on Thursday, February 18th, 2010 at 12:15 PM and is filed under Company Commentary, Earnings, Stock Earnings, Strategies, Trading Tips.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
Get RSS Feed
Toyota’s Woes Continue
12:10pm (EST)
The bulls are still running, albeit at a slow pace, as the market is higher for the third consecutive day. The Dow is currently enjoying a 20 point pop and is at 10,328. The S&P 500 is back at 1,100 and is up a point while the Nasdaq is higher by 4 and is trading at 2,229.
The Dow started off in negative territory but got a lift after the Philadelphia Federal Reserve Bank said its business activity index rose to 17.6 from 15.2 in January. It was better-than-expected news as new orders jumped to their highest in more than five years. The boys on the Street were expecting a reading of 17.
Elsewhere, the index of leading economic indicators rose 0.3% last month but was weaker than the 1.2% rise in December and a 1.1% rise in November. It was also the smallest of the index’s 10 straight monthly gains and short of the 0.5% growth that was expected. Despite the weaker-than expected results, it still showed that the economy continues to chug along.
Toyota Motors (TM, $73.71, down $0.39) continues to feel the heat as another model has been called into question. The Corolla may have a potential power-steering problem that could involve up to a half million vehicles.
The U.S. Transportation Department plans to open a formal investigation despite Toyota saying it has received fewer than 100 complaints with the Corolla, the world’s best-selling car.
This could put Toyota’s recalls in the double-digit millions…the company has already recalled 8.5 million of its cars because of problems with sticking gas pedals, floor mats and braking systems.
We wanted to send today’s update out a little early because we have a NEW TRADE that we profile in our Members Area. The options are already up 10% but we think we can squeeze a double out of the trade by mid-March.
Tags: option picks, option signals, options alerts, stock options trading, Toyota Motors
This entry was posted on Thursday, February 18th, 2010 at 12:15 PM and is filed under Company Commentary, Earnings, Stock Earnings, Strategies, Trading Tips. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.