Stocks surged today as strength in oil and financial stocks helped end their five day losing streak.
The S&P 500 rose 2% to 1,864.78 but still finished the week down 0.8%. The Dow Jones Industrial Average advanced313.66 points, or 2%, to15,973.84 but finished the week off 1.4%. The Nasdaq Composite gained 1.7% to 4,337.51 but finished the week with a 0.6% loss.
Bloomberg attributes today’s big gains to the even larger jump in oil–WTI Crude futures, the U.S. benchmark,climbed 12% to $29.44 a barrel. But I’d give the credit to JPMorgan Chase (JPM) CEO Jamie Dimon, who bought 500,000 shares of the banking giant. That likely helped reverse some of the negative sentiment in the financial sector, which gained 4% today after dropping about 18% this year through yesterday. Shares of JPMorgan Chase climbed 8.3% to $57.46 today, while the Financial Select Sector SPDR ETF (XLF) rose 4.1% to $20.49.
10 Best Chemical Stocks To Invest In Right Now: Ring Energy, Inc.(REI)
Ring Energy, Inc. engages in the acquisition, exploration, development, and production of oil and natural gas in Texas and Kansas, the United States. As of December 31, 2015, the companys proved reserves consisted of approximately 24.4 million barrel of oil equivalent. It also has interests in 18,130 net developed and undeveloped acres in Andrews and Gaines counties, and 19,679 net developed and undeveloped acres in Reeves and Culberson counties, Texas; and 16,674 net acres in Kansas. Ring Energy, Inc. primarily sells its oil and natural gas production to end users, marketers, and other purchasers. The company was formerly known as Transglobal Mining Corp. and changed its name to Ring Energy, Inc. in March 2008. Ring Energy, Inc. was founded in 2004 and is headquartered in Midland, Texas.
- [By Monica Gerson]
Ring Energy Inc (NYSE: REI) is projected to post a quarterly loss at $0.05 per share on revenue of $7.92 million.
Gain Capital Holdings Inc (NYSE: GCAP) is estimated to post its quarterly earnings at $0.07 per share on revenue of $100.39 million.
10 Best Chemical Stocks To Invest In Right Now: Firsthand Technology Value Fund, Inc.(SVVC)
Firsthand Technology Value Fund, Inc. (the Fund) is an externally managed, closed-end, non-diversified management investment company. The Funds investment objective is to seek long-term growth of capital. The Fund will invest at least 80% of its total assets for investment purposes in technology companies. It considers technology companies to be those companies that derive at least 50% of their revenues from products and/or services within the information technology sector or the cleantech sector Its investment portfolio by industry sector: Social Networking, Medical Devices, Semiconductor Equipment, Advertising Technology, Consumer Electronics, Cloud Computing, Mobile Computing.. The Fund will invest at least 70% of its assets in private venture capital companies and in public companies. SiVest Group, Inc. serves as investment adviser for the Fund. Advisors’ Opinion:
- [By Hibah Yousuf]
Similarly, Twitter is also the biggest holding in the Firsthand Technology Value Fund (SVVC). With just over 1 million shares of the social media platform, Twitter represents nearly 11% of the total portfolio as of mid-year. Shares of Firsthand Technology Value jumped more than 6% Friday.
Hot Computer Hardware Companies To Buy Right Now: Regions Financial Corporation(RF)
Regions Financial Corporation, incorporated on February 13, 2004, is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. The Company operates in three segments: Corporate Bank, Consumer Bank and Wealth Management. The Company provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of asset management, wealth management, securities brokerage, insurance brokerage, trust services, merger and acquisition advisory services, and other specialty financing. The Company operates approximately 1,960 automated teller machines (ATMs) and over 1,630 banking offices in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia.
The Company’s total loans amount to approx imately $81,162 million. Its investment securities available for sale include the United States Treasury securities, Federal agency securities, Obligations of states and political subdivisions, Mortgage-backed securities (MBS), Corporate and other debt securities, and Equity securities. The Company’s total securities amount to approximately $22,710 million. Deposits are the Company’s primary source of funds. The Company’s deposits consist of non-interest-bearing demand deposit, savings deposit, interest-bearing transaction deposit, money market-domestic deposit, money market-foreign deposit, time deposits and corporate treasury time deposits. Its total deposits amount to approximately $98,430 million.
In addition to its banking operations, the Company provides additional financial services through its subsidiaries. Regions Insurance Group, Inc., a subsidiary of the Company, is an insurance broker that offers insurance products through its subsidiaries, which inc lude Regions Insurance, Inc., Trilogy Risk Specialists, Inc.! and Regions Insurance Services, Inc. Through its insurance brokerage operations in Alabama, Arkansas, Florida, Georgia, Indiana, Louisiana, Mississippi, South Carolina, Tennessee and Texas, Regions Insurance, Inc. offers insurance coverage for various lines of personal and commercial insurance, such as property, vehicle, casualty, life, health and accident insurance. Regions Insurance, Inc. also provides services related to employee benefits. Trilogy Risk Specialists, Inc. operates as a wholesale insurance broker assisting retail insurance brokers in placing insurance coverage for the retail brokers’ customers with risk bearing entities. Regions Insurance Services, Inc. offers various insurance products, such as crop, life and environmental insurance.
Regions Equipment Finance Corporation and Regions Commercial Equipment Finance, LLC provide equipment financing products, focusing on commercial clients. Regions Investment Services, Inc., a subsidiary of Regions Bank, offers investments and insurance products to Regions Bank customers. In addition, Regions Bank and Regions Investment Services, Inc. also maintain an agreement with Cetera Investment Services, LLC to offer securities, insurance and advisory services to Regions Bank customers through dually employed financial consultants. Regions Securities LLC, a subsidiary of the Company, serves as a broker-dealer to commercial clients and acts in an advisory capacity to merger and acquisition transactions.
Corporate Bank Segment
The Corporate Bank segment represents the Company’s commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending. The segment also includes equipment lease financing. Corporate Bank customers are corporate, middle market and commercial real estate developers and investors.
Consumer Bank Segment
The Consumer Bank segment represents the Company’s br anch network, including consumer banking products and servic! es relate! d to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships. The segment’s services are also provided through alternative channels, such as the Internet and telephone banking.
Wealth Management Segment
The Wealth Management segment offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth. Its offerings include credit related products, trust and investment management, asset management, retirement and savings solutions, estate planning and personal and commercial insurance products.
- [By Ben Levisohn]
Bank of America (BAC) is our top bank idea – expectations are lower with shares at ~0.9x TBV, its balance sheet is highly asset sensitive (~100 bps parallel increase in rates adds ~$6B to NII or ~$0.35 to EPS), and Bank of America should be a relative winner in CCAR (total payout ratio should rise closer to ~60% vs. ~40% in 2015 planning period). We continue to like Comerica (CMA) given its M&A optionality over the intermediate term (takeout price likely closer to ~$60) but would use market volatility to add on weakness. It is harder to find value in the regional banks (examples: Citizens Financial Group (CFG), Regions Financial (RF), SunTrust Banks (STI), Zions Bancorp (ZION)), and the asset-sensitive regionals look more vulnerable if sentiment weakens. We remain comfortable with the Underperform on M&T Bank (MTB) which trades at ~13.5x 2017E EPS vs. the ~11x peer median.
- [By Ben Levisohn]
Who is positioned for the most capital return? We expect Morgan Stanley, Regions Financial (RF), Goldman Sachs, Fifth Third Bancorp (FITB), PNC Financial Services Group (PNC), and U.S. Bancorp (USB) to be approved for the most amount of capital return during 2016 (ranging between 80-100% of estimated 2016 earnings).
- [By Ben Levisohn]
Lee offers 22 stocks that could benefit from the correlation trade: Western Digital (WDC), Xerox (XRX), First Solar, Ford Motor, Best Buy (BBY), PulteGroup (PHM), AutoNation (AN), Textron (TXT), Jacobs Engineering Group (JEC), Mosaic, BB&T (BBT), Fifth Third Bancorp (FITB),Loews (L), Regions Financial (RF), KeyCorp (KEY), Comerica (CMA), Leucadia National (LUK), Zions Bancorp (ZION), Valero Energy (VLO), Marathon Oil, Cardinal Health (CAH), and Pepco Holdings (POM).
10 Best Chemical Stocks To Invest In Right Now: JA Solar Holdings, Co., Ltd.(JASO)
JA Solar Holdings Co., Ltd., together with its subsidiaries, designs, develops, manufactures, and sells solar power products based on crystalline silicon technologies. The companys principal products include monocrystalline and multicrystalline solar cells and modules. It also provides monocrystalline and multicrystalline silicon wafers; solar product processing services; and solar power plant project construction and development, and electricity generation services. The company sells its products primarily under the JA Solar brand name, as well as produces original equipment for manufacturers or customers under their brand names. JA Solar Holdings Co., Ltd. sells its solar cell and module products to module manufacturers, system integrators, project developers, and distributors worldwide. The company was founded in 2005 and is based in Shanghai, the Peoples Republic of China.
- [By Monica Gerson]
JA Solar Holdings Co., Ltd. (ADR) (NASDAQ: JASO) is estimated to report its quarterly earnings at $0.68 per share on revenue of $683.29 million.
Leju Holdings Ltd (ADR) (NYSE: LEJU) is projected to report its quarterly earnings at $0.14 per share on revenue of $194.20 million.
10 Best Chemical Stocks To Invest In Right Now: Regeneron Pharmaceuticals, Inc.(REGN)
Regeneron Pharmaceuticals, Inc., a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions worldwide. Its marketed products include EYLEA injection for the treatment of neovascular age-related macular degeneration (AMD) and macular edema; ZALTRAP, an injection for intravenous infusion for the treatment of patients with metastatic colorectal cancer; and ARCALYST, an injection for subcutaneous use for the treatment of cryopyrin-associated periodic syndromes comprising familial cold auto-inflammatory syndrome and muckle-wells syndrome in adults and children. The companys trap-based clinical product candidates comprise EYLEA for the treatment of AMD and diabetic macular edema; and ZALTRAP for oncology. Its antibody-based clinical programs include various human monoclonal antibody product candidates, such as REGN727 for low-density lipopro tein cholesterol reduction and for the prevention of cardiovascular events; REGN88 for rheumatoid arthritis and non-infectious uveitis; REGN668 for atopic dermatitis, asthma, nasal polyposis, and eosinophilic esophagitis; REGN2222 for respiratory syncytial virus; REGN1033 for skeletal muscle disorders; and REGN2176-3 and REGN910-3 antibodies for use in ophthalmology. The company is also developing REGN1908-1909, REGN1154, REGN1500, and REGN1193 antibody product candidates; REGN1400, REGN1979, and REGN2810 for oncology; and REGN475 for the treatment of pain. It has collaborations with Sanofi and Mitsubishi Tanabe Pharma Corporation; license and collaboration agreement with Bayer HealthCare; and Avalanche Biotechnologies, Inc., as well as Biomedical Advanced Research and Development Authority of the U.S. Department of Health and Human Services. The company was founded in 1988 and is headquartered in Tarrytown, New York.
- [By Ben Levisohn]
Regeneron Pharmaceuticals (REGN) has dropped 1.5% to $407.65 after getting cut to Market Perform from Outperform at Wells Fargo.
Boeing (BA) has fallen 2.2% to $129.80 after BofA Merrill Lynch cut the airline manufacturer to Underperform from Neutral.
- [By Ben Levisohn]
We highlighted Jefferies’ upgrade of U.S. Steel (X), Baird’s downgrade of Regeneron Pharmaceuticals (REGN), and wondered if Chesapeake Energy (CHK) has turned the corner.
10 Best Chemical Stocks To Invest In Right Now: National Steel Corporation(SID)
Companhia Siderurgica Nacional primarily operates as an integrated steel producer in Brazil and Latin America. The company principally produces carbon steel and various steel products. Its products include slabs, which are semi-finished products used for processing hot-rolled, cold-rolled, or coated coils and sheet products; hot-rolled products that comprise heavy-gauge hot-rolled coils and sheets, and light-gauge hot-rolled coils and sheets; cold-rolled products, including cold-rolled coils and sheets; and galvanized products consisting of flat-rolled steel coated with zinc or a zinc-based alloy. The company also offers tin mill products, which consist of flat-rolled low-carbon steel coils or sheets, such as tin plate, tin free steel,low tin coated steel, and black plate products. In addition, it engages in mining business by owning iron ore, limestone, dolomite, and tin mines comprising the Namisa property, Casa de Pedra mine, Arcos mine, and Santa Barbara mine; and invo lves in logistics business that includes railway and port facilities. Further, the company produces and sells cement; and engages in the generation of power plants. It sells its steel products as a raw material for various manufacturing industries, including the automotive, home appliance, packaging, construction, and steel processing industries. The company offers its products to customers directly through its sales force, as well as through distributors for subsequent resale. It also exports its products to Europe, Latin America, Asia, and North America. Companhia Siderurgica Nacional was founded in 1941 and is headquartered in Sao Paulo, Brazil.
- [By Lisa Levin]
In trading on Thursday, basic materials shares fell by 0.45 percent. Meanwhile, top losers in the sector included Companhia Siderurgica Nacional (ADR) (NYSE: SID), down 13 percent, and Dominion Diamond Corp (NYSE: DDC), down 9 percent.
- [By Lisa Levin]
On Thursday, basic materials shares rose by 3.08 percent. Top gainers in the sector included Cliffs Natural Resources Inc (NYSE: CLF), Companhia Siderurgica Nacional (ADR) (NYSE: SID), and Teck Resources Ltd (USA) (NYSE: TCK).
10 Best Chemical Stocks To Invest In Right Now: Rovi Corporation(ROVI)
Rovi Corporation provides digital entertainment technology solutions for the discovery and management of entertainment content. It offers interactive program guides; embedded licensing technologies, such as recommendations and search capability; media recognition technologies; licensing of the company?s database of descriptive information about television, movie, music, books, and game content; and analog content protection technologies and services. The company?s interactive program guides technology is an interactive listing of television or video program information that enables viewers to navigate through, sort, select, and schedule video programming for viewing and recording. The company also provides video delivery solutions, such as compression-decompression technology (codec) to enable distribution of content across the Internet and through recordable media in physical or streamed forms; and media manager, a personal computer application enabling consumers to man a ge personal media files, including music, photos, and video files. In addition, it offers digital copy solution for consumer electronics devices and PC software applications; the Rovi Entertainment Store video delivery solutions; content authoring solutions; and advertising solutions. Rovi Corporation primarily serves companies in the consumer electronics, cable and satellite, entertainment, and online distribution markets. The company was formerly known as Macrovision Solutions Corporation and changed its name to Rovi Corporation in July 2009. Rovi Corporation was founded in 1983 and is headquartered in Santa Clara, California.
- [By Lisa Levin]
TiVo Inc. (NASDAQ: TIVO) shares were also up, gaining 21 percent to $9.30. The New York Times, citing sources familiar with the issue, said Rovi Corporation (NASDAQ: ROVI) is in advanced negotiations to acquire TiVo. TiVo shareholders would reportedly receive both cash and stock; however, the price tag is yet to be determined.
- [By Lisa Levin]
TiVo Inc. (NASDAQ: TIVO) shares were also up, gaining 20 percent to $9.22. The New York Times reported that Tivo and Rovi Corporation (NASDAQ: ROVI) are in merger talks.
10 Best Chemical Stocks To Invest In Right Now: Wendy’s/Arby’s Group Inc.(WEN)
The Wendy’s Company operates as a quick-service hamburger company in the United States. The company, through its subsidiary, Wendy’s International, Inc., operates as a franchisor of the Wendy’s restaurant system. As of December 26, 2011, the Wendy’s system comprised approximately 6,500 franchise and company restaurants in the United States and the United States territories, as well as in 26 other countries worldwide. The company was formerly known as Wendy’s/Arby’s Group, Inc. and changed its name to The Wendy’s Company in July 2011. The Wendy’s Company was founded in 1884 and is headquartered in Dublin, Ohio.
- [By Michael Flannelly]
Argus Research upgraded fast food restaurant operator The Wendy’s Co (WEN) on Thursday, noting that the company’s store remodeling and new menus should help drive higher sales.
The analysts upgraded WEN from “Hold” to “Buy” and see shares reaching $10. This price target suggests a 21% upside to the stock’s Wednesday closing price of $8.25.
Wendy’s shares were up 24 cents, or 2.91%, during early morning trading on Thursday. The stock is up 54.19% year-to-date.
10 Best Chemical Stocks To Invest In Right Now: Neptune Technologies & Bioresources Inc(NEPT)
Neptune Technologies & Bioressources Inc., a nutrition company, develops, manufactures, and commercializes marine-derived omega-3 polyunsaturated fatty acids from Antarctic krill. The company also provides custom-made nutraceutical finished products from marine oils, and various other functional ingredients. Its products include Neptune Krill Oil (NKO), which provides omega-3 with superior bioavailability and antioxidant content; NKO Beat improves heart health; NKO Flex provides joint and bone health benefits; and NKO Focus provides brain and vision health. In addition, the company is pursuing opportunities in the prescription drug markets, through its subsidiary, Acasti Pharma Inc., that focuses on the research and development of compounds for highly prevalent atherosclerotic conditions, such as cardiometabolic disorders and cardiovascular diseases. It markets and sells its products in Canada, the United States, France, Belgi um, Australia, the United Kingdom, and other countries. Neptune Technologies & Bioressources Inc. was founded in 1925 and is headquartered in Laval, Canada.
- [By Monica Gerson]
Neptune Technologies & Bioressources (NASDAQ: NEPT) is projected to post a quarterly loss at $0.01 per share on revenue of $9.70 million.
Apigee Corp (NASDAQ: APIC) is expected to post a quarterly loss at $0.27 per share on revenue of $23.17 million.
10 Best Chemical Stocks To Invest In Right Now: United Natural Foods, Inc.(UNFI)
United Natural Foods, Inc., together with its subsidiaries, distributes and retails natural, organic, and specialty foods and non-food products in the United States and Canada. The company offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products. It is also involved in importing, roasting, packaging, and distribution of nuts, dried fruit, seeds, trail mixes, granola, natural and organic snack items, and confections. In addition, the company offers Blue Marble Brands products on wholesale basis through third-party distributors in organic, natural, and specialty food brands, as well as directly to retailers. Further, it provides Field Day brand products primarily to customers in its independent natural products retailer channel. The company serves independently owned natural products retailers, supernatur al chains, conventional supermarkets, and mass market chains, as well as foodservice and international customers outside Canada. It operates 13 natural products retail stores primarily in Florida. The company was founded in 1976 and is headquartered in Providence, Rhode Island.
- [By Ben Levisohn]
United Natural Foods (UNFI) has dropped 2.4% to$36.15 after getting cut to Underweight from Equal Weight at Morgan Stanley.
Hatteras Financial (HTS) has jumped 9.4% to $15.60 after agreeing to be purchased byAnnaly Capital Management (NLY) for $1.5 billion.Annaly Capital Management has dropped 1.1% to $$10.30.
- [By Lisa Levin] Related UNFI United Natural Foods Just Posted A 6-Month High Off Strong Earnings Report 4 Stocks Moving In Monday's After-Hours Session United Natural Foods' (UNFI) CEO Steve Spinner on Q3 2016 Results – Earnings Call Transcript (Seeking Alpha) Related BBRY Tesla's Gigafactory: Are Other Auto Manufacturers About To Experience Their 'Blackberry Moment?' BlackBerry Just Has 'Too Many Headwinds'; Macquarie Starts Coverage At Underperform The Vetr community has upgraded $BBRY to 5-Stars. (Vetr)
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Monday's regular session.
- [By Paul Ausick]
Big Earnings Movers: Ulta Salon, Cosmetics & Fragrance Inc. (NASDAQ: ULTA) is up 17.3% at $117.49, after posting a new 52-week high of $118.27 today. United Natural Foods Inc. (NASDAQ: UNFI) is up 12.9% at $67.72 after posting a new 52-week high of $69.35 earlier.