The Dow Industrials posted its third consecutive weekly loss as U.S. stocks slumped Friday despite an upbeat read on U.S. retail sales.
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The Dow Jones Industrial Average fell 185.2 points, or 1.05% to close at 17535.2 after earlier declining more than 200 points. The S&P 500 fell 0.85% to end the week at 2046.61. The Nasdaq Composite slipped 0.4% to close at 4717.68.
Stock indices have fluctuated severely this week, thanks in part to a rash of weak results from big retail chains. The Dow posted its biggest gain since March on Tuesday, only to record its worst fall since Feb. 11 the next day.
Investors are facing a variety of overhangs, from worries about consumer spending to cloudy expectations for corporate earnings and next months Federal Reserve meeting. Also, the UK is poised to vote on whether to exit the European Union.
Top 5 Low Price Stocks For 2017: Olympic Steel Inc.(ZEUS)
Olympic Steel, Inc. engages in the processing and distribution of metal products in the United States. It offers flat products and tubular and pipe products, including processed carbon, coated, aluminum and stainless flat-rolled sheet, coil, and plate; and metal tubing, pipe, bar, valves, and fittings and fabricate pressure parts. The company also provides various processing services comprising cutting-to-length, slitting, sawing, and shearing; and value-added processes of blanking, tempering, plate burning, laser cutting, precision machining, welding, fabricating, bending, and painting to process metal to specified lengths, widths, and shapes. It serves metal consuming industries, such as manufacturers and fabricators of transportation and material handling equipment, construction and farm machinery, storage tanks, environmental and energy generation equipment, automobiles, food service and electrical equipment, and military vehicles and equipment, as well as general and plate fabricators and metals service centers through direct sales force. Olympic Steel, Inc. was founded in 1954 and is headquartered in Bedford Heights, Ohio.
- [By Lisa Levin]
Olympic Steel, Inc. (NASDAQ: ZEUS) was down, falling around 17 percent to $21.32. KeyBanc downgraded Olympic Steel from Sector Weight to Underweight.
Top 5 Low Price Stocks For 2017: Mitcham Industries Inc.(MIND)
Mitcham Industries, Inc., through its subsidiaries, engages in the leasing, sale, and service of geophysical and other equipment to the seismic industry worldwide. The company operates in two segments, Equipment Leasing and Seamap. The Equipment Leasing segment leases seismic equipment for short-term leasing primarily to seismic data acquisition contractors and oil field service providers. Its land equipment lease pool includes seismic recording land channels, geophones and cables, and other peripheral equipment; marine seismic equipment lease pool comprises streamers, air compressors, air guns, streamer positioning equipment, energy source controllers, and other equipment; and downhole equipment lease pool consist of downhole seismic tools. This segment is also involved in the sale of new seismic equipment of other manufacturers; heli-pickers and related equipment used in the deployment and retrieval of seismic equipment by helicopter; and equipment, consumables, systems integration, engineering hardware, and software maintenance support services to the seismic, hydrographic, oceanographic, environmental, and defense industries, as well as sells used equipment from its lease pool. The Seamap segment designs, manufactures, and sells a range of products for the marine seismic industry. Its products include GunLink seismic source acquisition and control systems, which are designed to provide operators of marine seismic surveys with precise control of energy sources; and BuoyLink RGPS tracking systems that are used to offer precise positioning of seismic sources and streamers. The company was founded in 1987 and is headquartered in Huntsville, Texas.
- [By Monica Gerson]
Mitcham Industries, Inc. (NASDAQ: MIND) is projected to post a quarterly loss at $0.36 per share on revenue of $10.99 million.
Sinovac Biotech Ltd. (NASDAQ: SVA) is expected to post its quarterly earnings.
Top 5 High Dividend Stocks To Invest In Right Now: Freeport-McMoran, Inc.(FCX)
Freeport-McMoRan Inc. (FCX), incorporated on November 10, 1987, is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company’s segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. FCX has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in the United States.
The Company’s Atlantic Copper unit in Spain smelts and refines copper concentrates, and markets refined copper and precious metals in slimes. The Company has a smelter at its Miami, Arizona, m ining operation; a cobalt chemical refinery in Kokkola, Finland; molybdenum conversion facilities in the United States and Europe; over four non-operating copper mines in North America (Ajo, Bisbee and Tohono in Arizona and Cobre in New Mexico), and other mining support entities.
North America Copper Mines
FCX has over seven operating copper mines in North America, including Morenci, Bagdad, Safford, Sierrita and Miami in Arizona, and Tyrone and Chino in New Mexico. The North America copper mines include open-pit mining, sulfide ore concentrating, leaching and solution extraction/electrowinning (SX/EW) operations. The copper produced at the North America copper mines is cast into copper rods by its Rod & Refining operations. In addition to copper, the Company’s North America copper mines also produce molybdenum concentrates and silver. The Morenci open-pit mine, located in southeastern Arizona, produces copper cathodes and copper concentrate. In add ition to copper, the Morenci mine also produces molybdenum c! oncentrate.
South America Mining
South America mining includes over two operating copper mines: Cerro Verde in Peru and El Abra in Chile. These operations include open-pit mining, sulfide ore concentrating, leaching and SX/EW operations. The Cerro Verde open-pit copper mine, located near Arequipa, Peru, produces copper cathodes and copper concentrates. In addition to copper, the Cerro Verde mine also produces molybdenum concentrate and silver.
Indonesia mining includes PT Freeport Indonesia’s Grasberg minerals district. It produces copper concentrates, which contain quantities of gold and silver.
Africa mining includes the Tenke minerals district. The Tenke operation includes surface mining, leaching and SX/EW operations and produces copper cathode. In addition to copper, the Tenke operation produces cobalt hydroxide.
Molybde num mines include the Henderson underground mine and Climax open-pit mine in Colorado. The Henderson and Climax mines produce chemical-grade molybdenum concentrates, which are processed into molybdenum chemical products.
Rod & Refining
The Rod & Refining segment consists of copper conversion facilities located in North America, and includes a refinery, over three rod mills and a copper products facility. These operations process copper produced at its North America copper mines and purchased copper into copper cathode, rod and custom copper shapes. These operations also refine copper and produce copper rod and shapes for customers on a toll basis.
United States Oil and Gas Operations
Its U.S. Oil & Gas Operations include oil and natural gas assets in the Deepwater Gulf of Mexico (GOM), onshore and offshore California, the Haynesville shale in Louisiana, the Madden area in central Wyoming and a position in the Inboard Lower Tertiary/Cretaceous natural gas trend onshore in South Louis! iana.
- [By Ben Levisohn]
If you’re an oil explorer, you’re probably trying to avoid offshore right now. It’s expensive to reach, and, with oil still trading below $50, difficult to make profitable. That’s one reason companies have been touting big discoveries and buys onshore–see Apache’s (APA) big announcement from last week for one example. Yet here’s Anadarko Petroleum (APC) spending $2 billion to buy Freeport-McMoRan’s (FCX) Gulf of Mexico assets. What gives? UBS analyst William Featherston and team explain:
- [By Lee Jackson]
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) is a top diversified name to buy at Merrill Lynch and may offer investors the best total return play. The company by almost all metrics is undervalued, and it continues to raise its dividend yearly. Merrill Lynch has a $37 price target, and the consensus figure is $36.50. Investors are paid a very solid 4.0% dividend.
Top 5 Low Price Stocks For 2017: Inter Parfums, Inc.(IPAR)
Inter Parfums, Inc., together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products worldwide. It offers its fragrance and cosmetic products under the Balmain, Boucheron, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto, Van Cleef & Arpels, Abercrombie & Fitch, Agent Provocateur, Rochas, Anna Sui, Banana Republic, bebe, Coach, Dunhill, French Connection, Gap, Hollister, Oscar de la Renta, and Shanghai Tang brands. It markets and sells its products to department stores, perfumeries, specialty retailers, mass market retailers, supermarkets, domestic and international wholesalers, and distributors. The company was formerly known as Jean Philippe Fragrances, Inc. and changed its name to Inter Parfums, Inc. in July 1999. Inter Parfums, Inc. was founded in 1985 and is headquartered in New York, New York.
- [By Monica Gerson]
Inter Parfums, Inc. (NASDAQ: IPAR) is estimated to post its quarterly earnings at $0.31 per share on revenue of $110.58 million.
Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH) is expected to report its quarterly earnings at $0.37 per share on revenue of $1.10 billion.
Top 5 Low Price Stocks For 2017: International Business Machines Corporation(IBM)
International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. Its Global Technology Services segment provides IT infrastructure and business process services, including strategic outsourcing, process, integrated technology, and maintenance services, as well as technology-based support services. The company?s Global Business Services segment offers consulting and systems integration, and application management services. Its Software segment offers middleware and operating systems software, such as WebSphere software to integrate and manage business processes; information management software for database and enterprise content management, information integration, data warehousing, business analytics and intelligence, performance management, and predictive analytics; Tivoli software for identity management, data security, storage management, and datacenter automation; Lotus software for collaboration, messaging, and so cial networking; rational software to support software development for IT and embedded systems; business intelligence software, which provides querying and forecasting tools; SPSS predictive analytics software to predict outcomes and act on that insight; and operating systems software. Its Systems and Technology segment provides computing and storage solutions, including servers, disk and tape storage systems and software, point-of-sale retail systems, and microelectronics. The company?s Global Financing segment provides lease and loan financing to end users and internal clients; commercial financing to dealers and remarketers of IT products; and remanufacturing and remarketing services. It serves financial services, public, industrial, distribution, communications, and general business sectors. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. IBM was founded in 1910 and is base d in Armonk, New York.
- [By Beth Piskora]
They are listed below:
Altera (ALTR)yielding 1.7%
Apple (AAPL)yielding 2.5%
Applied Materials (AMAT)yielding 2.6%
Cisco (CSCO)yielding 2.9%
EMC Corp. (EMC)yielding 1.5%
International Business Machines (IBM)yielding 2.0%
KLA-Tencor (KLAC)yielding 3.2%
Microchip Technology (MCHP)yielding 3.6%
Oracle (ORCL)yielding 1.5%
Qualcomm (QCOM)yielding 2.1%
Texas Instruments (TXN)yielding 2.9%
Xilinx (XLNX)yielding 2.3%
Subscribe to S&P’s The Outlook here
- [By Ben Levisohn]
Berkshire’s QTD returns primarily reflected outperformance in technology and financials (International Business Machines (IBM), Moody’s (MCO), U.S. Bancorp (USB), and American Express (AXP)), partly offset by underperformance within energy, healthcare, and consumer-nondurables (Phillips 66 (PSX), Coca-Cola (KO), and DaVita HealthCare Partners (DVA)).
- [By Ben Levisohn]
Netflix tumbled 13% to $94.34 after gaining far fewer overseas subscribers than it had forecast. The Dow Jones Industrial Average was able to offset International Business Machines’ (IBM) 5.7% drop to $143.98 with gains from Goldman Sachs (GS), which gained 2.5% to $162.71, UnitedHealth Group (UNH), which rose 2.1% to $130.50, and Johnson & Johnson (JNJ), which advanced 1.6% to $112.67. IBM was hit by disappointing guidance, while Goldman Sachs shrugged off a low quality beat, Johnson & Johnson lifted guidance, and UnitedHealth easily topped earnings forecasts.
- [By Benjamin Shepherd] The US health care industry is among the heaviest regulated in the nation. Most health care-related companies must answer to federal, state and, in many cases, local regulators.
That regulatory burden will only grow more complex, as myriad new rules under the Patient Protection and Affordable Care Act, or “Obamacare,” come into effect over the next few months. In just 22 days, the first insurance exchanges are supposed to come online. On January 1, the individual mandate and changes in coverage standards become effective.
Many health care businesses and organizations were dragging their feet in complying with Obamacare’s provisions, waiting to see how the Supreme Court would come down on the law. The court didn’t rule on Obamacare until June 2012, a decision in which it upheld the law almost in its entirety.
Given that delayed decision, a study conducted by the Government Accountability Office this past June found that only 44 perc ent of key activities required for full compliance had been completed, particularly where health insurance exchanges were concerned.
As a result, there’s a massive scramble underway to achieve minimum compliance levels with the law. But there’s a paucity of workers with the requisite knowledge of federal and insurance regulations required to help companies and state governments navigate the labyrinth of regulations.
That’s creating a lot of work for consultancies such as Huron Consulting Group (NSDQ: HURN), which focuses almost exclusively on the health care sector.
While the company also works in the legal, financial, education and life sciences arenas, it primarily helps hospitals, health systems and physician groups reduce costs, maximize reimbursements from both federal and private insurers and transition towards the value-based care mandated under Obamacare. In future years, reimbursements will transition towards rewarding health c are organizations tha