Schaeffer's Trading Floor Blog

The BEAV Soars on Earnings

by 4/25/2005 1:45 PM
Stocks quoted in this article:
I've written on the website before about one of my favorite stocks BE Aerospace. (BEAV: scorecard, quote, chart) This morning the company reported first-quarter earnings of seven cents per share, beating Wall Street's estimate by two cents. This is the first quarterly profit for the company in three years. The BEAV also boosted its outlook due to a strong order backlog. I'm long the stock and it remains one of my top bullish picks, not just because of the fundamental turnaround story but because the pessimism is high and the stock's story is still largely unknown. Short interest has risen in four consecutive months to just over 2.2 million shares. BEAV is up nearly 14 percent to 12.60, its highest point since mid-March and a chip shot from a 2-1/2 year high.<

permanent link
Stocks quoted in this article:
We continue to rally into lunch, but one thing that strikes me as a concern is volume. So far volume is running at the lightest levels we've seen in about two weeks. Check out a daily chart of the Diamonds Trust (DIA: scorecard, quote, chart) to see what I mean.

The bottom line is the price action, but considering Thursday's 200-point rally also came on light volume, this development is something to watch.

permanent link

Oil Holds 55

by 4/25/2005 11:31 AM
Stocks quoted in this article:

Oil prices continue to claw their way higher, as the June futures contract holds above the 55 mark. Not helping matters is news that Saudi Arabia has no plans to deliver on a proposal to build two very large refineries, according to Saudi Arabian oil minister Ali Naimi. In fact, the Kingdom has shifted efforts to off-shore refineries. In late April 2004, Naimi spoke of plans to build two 500,000 barrel-a-day refineries in the U.S. as soon as possible. At last check, June crude oil futures were up 0.56 percent at $55.70 a barrel. This rise comes on the heels of last week's 6.4-percent jump.

Oil-related stocks are joining in the rally this morning, with the AMEX Oil and Gas Index (XOI 849.69) adding 1.45 percent. The PHLX Oil Services Sector Index (OSX 138.53) is up 1.03 percent.


permanent link

Check out the Internals

by 4/25/2005 10:41 AM
Stocks quoted in this article:
We have broad strength across the board this morning, as numerous sectors are up lead by energy, steel, and Internet.. What I find the most impressive is the breadth, as the Advance/Decline line at the NYSE stands at an incredibly strong 2.40, while at the Nasdaq it comes in at a solid 1.65. With strength like that it might be tough for the bears to take control today. <

permanent link

Boeing Flys High

by 4/25/2005 10:01 AM
Stocks quoted in this article:

Boeing (BA: scorecard, quote, chart) is providing the Dow Jones Industrial Average (DJIA) with a healthy boost this morning after announcing a pair of new contracts. First off, Ace Aviation (parent of Air Canada) placed firm orders for 14 Boeing 787 Dreamliners and has options to purchase 46 more jets. The first of the 787 jets is scheduled for delivery in 2010. Meanwhile, Panama carrier Copa Airlines placed an order for up to 15 additional BA Next-Generation 737 planes, with five of those jet orders firm. In early trading, BA is up 2.45 percent, flying back above the 59 level as it makes another run at resistance in the 60 area.

<

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.