1:20pm (EST)
The bears have started the week off by tugging on Superman’s cape, but they have done little damage up to this point. The are numerous headwinds the bulls are facing today, but it seems they are taking their time digesting all of the news just like we are.
The Dow is currently down 25 points to 10,599 while the S&P 500 is lower by 6 points to 1,144. The Nasdaq is down 17 to 2,350.
Moody’s (MDO, $28.22, down $0.04) said the risks are growing for some of the world’s largest triple-A-rated countries: Germany, France, the U.K. and the U.S.
And…?
Moody’s has gotten everything wrong, and we honestly don’t know why anyone would care what the firm has to say. They missed so many calls during the subprime and financial crisis that it’s hard to believe the company is still in business. Even harder to believe is the fact shares are trading near $30…
The Financial stocks are taking a hit as Washington pushes ahead this week on legislation to overhaul the our financial system. The bill is expected to ”curb” Wall Street’s influence over the Federal Reserve Bank of New York. It looks like Obama wants to have the final say on who runs the show in NY instead of the current board that includes representatives of member banks.
As far as economic news, the Federal Reserve Bank of New York’s Empire Manufacturing Survey came in at 22.86 this month from 24.91 in February. Wall Street had expected a reading of 24 for the month. Although manufacturing output was down the report said it is continuing to improve at a steady pace in March, including a rise in new orders and improvement in the labor markets.
Amylin Pharmaceuticals (AMLN, $22.89,up $2.63) is up over 13% after the FDA said it didn’t need more clinical data on its diabetes drug, Bydureon. However, the FDA did say they would like changes made to clarify the product labeling and asked questions about the drug’s manufacturing process.
We were more interested in shares of Alkermes (ALKS, $13.79, up $1.58) which is the company that enables the slow delivery of the drug. The stock has jumped 13% but the March 12.50 calls (QAL100320C00012500, $1.15, up $0.30) are up 35%. They have traded to a high of $1.75 which is where they opened.
If Amylin hadn’t blown its inspection on Friday, we may have swung the bat…
We think there is a chance the bulls wake up today as the market has come off its lows and overall we are still expecting a higher March. We have update the Members Area so let’s get to it…
Tags: Alkermes, ALKS, AMLN, Amylin Pharmaceuticals, MDO, Moody's, option picks, option signals, options alerts, stock options trading
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on Monday, March 15th, 2010 at 12:23 PM and is filed under Company Commentary, Market Commentary.
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Moody’s Sours Bulls Mood
1:20pm (EST)
The bears have started the week off by tugging on Superman’s cape, but they have done little damage up to this point. The are numerous headwinds the bulls are facing today, but it seems they are taking their time digesting all of the news just like we are.
The Dow is currently down 25 points to 10,599 while the S&P 500 is lower by 6 points to 1,144. The Nasdaq is down 17 to 2,350.
Moody’s (MDO, $28.22, down $0.04) said the risks are growing for some of the world’s largest triple-A-rated countries: Germany, France, the U.K. and the U.S.
And…?
Moody’s has gotten everything wrong, and we honestly don’t know why anyone would care what the firm has to say. They missed so many calls during the subprime and financial crisis that it’s hard to believe the company is still in business. Even harder to believe is the fact shares are trading near $30…
The Financial stocks are taking a hit as Washington pushes ahead this week on legislation to overhaul the our financial system. The bill is expected to ”curb” Wall Street’s influence over the Federal Reserve Bank of New York. It looks like Obama wants to have the final say on who runs the show in NY instead of the current board that includes representatives of member banks.
As far as economic news, the Federal Reserve Bank of New York’s Empire Manufacturing Survey came in at 22.86 this month from 24.91 in February. Wall Street had expected a reading of 24 for the month. Although manufacturing output was down the report said it is continuing to improve at a steady pace in March, including a rise in new orders and improvement in the labor markets.
Amylin Pharmaceuticals (AMLN, $22.89,up $2.63) is up over 13% after the FDA said it didn’t need more clinical data on its diabetes drug, Bydureon. However, the FDA did say they would like changes made to clarify the product labeling and asked questions about the drug’s manufacturing process.
We were more interested in shares of Alkermes (ALKS, $13.79, up $1.58) which is the company that enables the slow delivery of the drug. The stock has jumped 13% but the March 12.50 calls (QAL100320C00012500, $1.15, up $0.30) are up 35%. They have traded to a high of $1.75 which is where they opened.
If Amylin hadn’t blown its inspection on Friday, we may have swung the bat…
We think there is a chance the bulls wake up today as the market has come off its lows and overall we are still expecting a higher March. We have update the Members Area so let’s get to it…
Tags: Alkermes, ALKS, AMLN, Amylin Pharmaceuticals, MDO, Moody's, option picks, option signals, options alerts, stock options trading
This entry was posted on Monday, March 15th, 2010 at 12:23 PM and is filed under Company Commentary, Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.