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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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The Week In Review

3/8-3/12/10

March 12, 2010
U.S. stocks opened higher on Friday, with equities heading toward weekly gains, after an unanticipated hike in retail sales provided another indication that the economic recovery is continuing. The Dow Jones Industrial Average added 25 points to 10,637. The S&P 500 Index rose a point to 1,151. The Nasdaq Composite Index advanced a point to 2,369. The retailers continue to perform well. Aeropostale is jumping 5% on an upgrade. Red Robin and Saks are both up over 3% on upgrades. AnnTaylor and and Hibbett Sporting are lower following earnings. In the tech sector Google and Apple continue to perform well. Cypress Semi, Micron, and Intel are higher following upgrades. The big banks continue to perform well. Investment newsletters are expecting a break out in the banking index. Discover is higher on an upgrade. Citigroup is modestly lower following cautious comments from Oppenheimer after a nice run up. In the commodity space the fertilizers are performing great. Potash is jumping 6% after raising guidance. Agrium is also up 6% in sympathy. CF Industries is lower by 4% after Terra Industries agreed to an aquisition. After the first half an hour the Dow was up 17 points while the Nasdaq rose just a point. Through the morning the averages gave up their gains. The fertilizers and a select number of techs and banks are continuing to perform well. In the afternoon the averages dipped into the red. The financials are showing weakness for the first time this week. In the last hour the Dow was able to sneak into the green thanks to a spurt in shares of GE. The Dow Jones Industrial Average finished up 12 points at 10,624, leaving the blue chip average up 0.6% from the week-ago close. The S&P 500 Index fell a quarter of a point to end at 1,149, a level that averages up a percent fro the week. The Nasdaq Composite Index fell a point to finish at 2,367.66, up 1.8% from the week-ago close.


March 11, 2010
U.S. stocks opened modestly lower on Thursday after China reported a steep hike in inflation and fresh data showed the U.S. jobs market still on less-than-firm footing. The Dow Jones Industrial Average fell 19 points to 10,548. The S&P 500 Index declined 2 points to 1,142. The Nasdaq Composite Index dipped 8 points to 2,350. A quiet morning to start the day. A few earnings reports from Gymboree, Mens Wearhouse, Imax, Landry Seafood, Jackson Hewitt, Smithfield Foods, and Buckle. Gymboree and Imax are both up over 5%. Jackson Hewitt and Mens Wearhouse are both down over 4%. A couple upgrades in the tech sector are lending support to Google and Research in Motion. Apple has not made a new high, yet. A number of big banks are higher including Citigroup, Bank of America, and Goldman Sachs. Visa is up 2% on an upgrade. The retailers are struggling this morning. Bed Bath & Beyond is down 2% on a downgrade. Tyson Foods was upgraded, but the stock is lower. After the first half an hour the averages remain in the red. Only a select number of techs and financials are in the green. Through the morning more of the same, the averages remained in the red, but not by much. The financials and a select number of techs like Google and IBM look good. In the afternoon the averages moved sideways until the last hour when the averages perked up. The Dow Jones Industrial Average added 44 points to close at 10,611. The S&P 500 Index gained 4 points to 1,150. The Nasdaq Composite Index rose 9 points to 2,368.


March 10, 2010
U.S. stocks opened slightly higher on Wednesday, with financial shares and the techs in the lead. The Dow Jones Industrial Average rose 14 points to 10,578. The S&P 500 Index climbed a point to 1,142. The Nasdaq Composite gained 4 points to 2,345. Within the financials Citigroup is up 4% as investors warm up to the stock. Dick Bove believes the stock will reach $7 in the next several years. Cramer recommended JP Morgan last night. Metlife is up 2% on an upgrade and raised estimates. Based on next years earnings, Metlife is trading for 7.6 times earnings. Not bad. In the tech sector Apple is up once again. Google is higher. Baidu is higher on an upgrade. The chips look good. Micron was upgraded. Broadpoint Amtech upgraded Microsoft and Research in Motion. F5 Networks is higher on rumors of a takeover. A number of takeover rumors within the commodity space including Terra Industries, CF, Potash, and Mosaic. The retail sector is one sector struggling today. J. Crew is down 4% following earnings last night. Childrens Place is lower following earnings while American Eagle is higher on in-line earnings. After the first hour the Dow rose 30 points. The Nasdaq improved by 16 points. So far so good. Through the morning the averages went no where, but the techs, financials, and a number of commodities look great. During the lunch hour the Dow sold off on rumors that China would have a to slow their economy down due to inflation. In the afternoon the Dow held near the unchanged level. The Nasdaq remained strong. Google kicked it into higher gear, jumping nearly 3%. The Dow Jones Industrial Average finished up 2 points at 10,567. The S&P 500 Index rose 5 points to 1,145. The Nasdaq Composite Index climbed 18 points to 2,358.


March 9, 2010
U.S. stocks started modestly lower on Tuesday, with natural-resource companies falling along with the price of oil and other commodities. The Dow Jones Industrial Average fell 7 points to 10,545. The S&P 500 Index declined 2 points to 1,136. The Nasdaq Composite Index was off 2 points at 2,331. Quiet morning so far. On the earnings front H&R Block, Kroger, and Burger King are modestly lower following earnings. Dicks and Tivo are modestly higher following earnings. In the tech sector Texas Instruments lifted guidance last night, however, the stock is lower. Apple and Research in Motion are modestly higher on upgrades. The financials are modestly lower as bank regulation looms. Metlife opened lower, but soon rebounded. China Life Insurance is higher as the company predicts their profits will triple over the next several years. A couple of downgrades this morning including Toyota and Cheescake Factory. Both are lower. After the first hour the averages moved modestly into the green. Everything seems to be recovering. During the lunch hour the averages kept improving. The financials have had a nice turn around. Citigroup is jumping 7%. The techs are improving. The Dow rose 50 points touching 10600 for the first time since the middle of January. Entering the last hour the averages gave up half their gains. The Dow Jones Industrial Average finished up 11 points at 10,564. Up nearly 69% from the year-ago close, the S&P 500 added a point to end at 1,140. The Nasdaq Composite Index rose 8 points to close at 2,340.


March 8, 2010
U.S. stocks started mildly higher on Monday as a new round of corporate deals helped bolster sentiment. The Dow Jones Industrial Average added 17 points to 10,583. The S&P 500 Index rose a point to 1,140 and the Nasdaq Composite Index climbed 2 points to 2,329. Metlife is performing well, up 5% after agreeing to buy an AIG unit over the weekend for $15.5 billion. The financials and insurance stocks are breaking out. Goldman Sachs looks good. SEI Investment is up 5% on an upgrade. Fifth Third is down a percent on a downgrade. In the tech sector, RF Micro Devices is higher after raising their numbers. Cisco Systems, EMC, Yahoo, and Research in Motion are higher on upgrades. Google was upgraded, but the stock is lower. Apple made a new high this morning. The commodities are performing well. U.S. Steel and Potash are higher on upgrades. Within the Dow Jones, Disney is modestly higher on an upgrade. McDonalds is up 2% on better than expected February sales numbers. The retailers continue to perform well. Dicks and J. Crew are both higher on upgrades. After the first hour the averages remained in the green. So far so good. Through the morning the Dow gave up their gains. The Nasdaq is clinging to gains. Current stocks continue to improve like Research in Motion, Goldman Sachs, Imax, Metlife, and Potash. The healthcare stocks are lower as President Obama attacks the insurers. Volume is light. In the afternoon the averages did not gyrate much from the unchanged level. Only a select number of stocks are outperforming. The Dow Jones Industrial Average finished down 13 points at 10,552. After six sessions of gains, the S&P 500 Index lost a point to end at 1,138. The Nasdaq Composite rose 5 points to 2,332.