Archives

Distribution Count Rises, But Indexes Cut Losses

The market suffered another session of intense institutional selling Wednesday. Or did it? The Nasdaq composite and the S&P 500 both fell 0.4%. Volume climbed on both exchanges, albeit minimally. A decline of at least 0.2% in higher volume is known as distribution, where fund managers in the market are “distributing” shares to the general investing public. They’re taking profits and building …

The Big Picture is a subscriber feature. Take a free trial now to get instant access.

Try the Digital + Weekly Print Combo and enjoy the best of both worlds!
eIBD is available after market close to give you a head start on the next day’s market action. Plus, you get the Weekly Special print edition delivered right to your home or office!

Enter in your information (* Required fields)

Leading Stock Cimpress Impresses On Weak Market Day

Only a small number of leading stocks reached new highs Wednesday as the market fell for a second straight session. Cimpress (CMPR) bucked market weakness and rallied 2.61, or 3%, to 86.99 after Barclays upgraded shares to equal weight from underweight and raised its target price to 80 from 65. The stock cleared an 86.88 buy point in a flat base. Volume was double its average Wednesday, showing …

New Highs is a subscriber feature. Take a free trial now to get instant access.

Try the Digital + Weekly Print Combo and enjoy the best of both worlds!
eIBD is available after market close to give you a head start on the next day’s market action. Plus, you get the Weekly Special print edition delivered right to your home or office!

Enter in your information (* Required fields)

Oil Surges On Production Dip, Iran Deal Is A Wild Card

Oil prices surged Wednesday as the U.S. extended its negotiations with Iran, and despite another hefty increase in U.S. crude stockpiles. Benchmark crude prices in both the U.S. and Europe rumbled ahead, leaving U.S. West Texas Intermediate up 5% at $50.09 per barrel and Europe’s Brent up 3% to $57.10.

Prices had fallen Tuesday, as a possible deal between Iran and six countries including the U.S. led to expectations for increased oil exports out of Iran. As talks were extended past the Tuesday deadline, traders placed bets on what happens next. On Wednesday, many were apparently betting that negations would fail.

If the talks succeed, at last some export restrictions are likely to be eased. That could eventually mean more than 1 million more barrels of new oil per day, plus an estimated 30 million barrels currently stored offshore in Iran.

Brent crude is likely to feel the most direct impact. A CNBC report Wednesday said the initial hit would probably be limited to $5 per barrel, but increased exports could spur Saudi Arabia to increase output to defend market share. That would place longer-term pressure on prices.

March was a wild and maybe critical month for oil prices. WTI spiked above $50 last week after a Saudi Arabia-led coalition began airstrikes vs. Shia militants in Yemen. Prices dropped to their lowest mark since 2009 on March 18, to $44 a barrel, according to Nymex data.

Inventories rose another 4.8 million barrels in the past week, the Energy Information Administration reported Wednesday. That was a bit more than the consensus estimate, but below the numbers released by the American Petroleum Institute late Tuesday.

U.S. production dipped 0.4%, the first weekly production decline since January.

The production dip contributed to the industry’s firming sense of a market set to “rebalance” in the second half of the year, as production slows and international demand improves.

International oilfield services giant Schlumberger (NYSE:SLB) updated its market outlook last week, estimating that rebalancing oil markets in the second half should lead to improving oil prices. It forecast that OPEC producers would continue focusing on market share, moving more spare output into the market to prevent a spike in oil prices.

Health Stocks Lead The Pack In Q1; Are They Fading?

Medical-related industry groups were on a tear in the first quarter but have run into some trouble in recent days. Biogen (NASDAQ:BIIB) is a good example of what’s been happening. It’s been a leader in the biotech industry and performed well in Q1. …

Cybersecurity Leader Qualys Posts Superb Earnings Growth

Shares of Qualys (NASDAQ:QLYS) have been pulling back in what is now looking like a new base for the computer security leader. The stock has been consolidating for nearly four weeks since peaking at 50 on March 5. It’s also possible to interpret the…

Top Stock Ulta Beauty Sitting Pretty, Near Buy Point

Cosmetics retailer Ulta Beauty (ULTA) is holding tight near an all-time high despite the market’s recent decline. It’s also near a buy point. The stock has shaped a 3-weeks-tight pattern with an entry at 156.10. It was less than 5% below the buy point Wednesday. The 3-weeks-tight structure lets existing shareholders add a small number of shares to their positions, but it can also be used by …

Sector Leaders Review is a subscriber feature. Take a free trial now to get instant access.

Try the Digital + Weekly Print Combo and enjoy the best of both worlds!
eIBD is available after market close to give you a head start on the next day’s market action. Plus, you get the Weekly Special print edition delivered right to your home or office!

Enter in your information (* Required fields)

Stocks Nearing Session Lows As Rebound Loses Steam

Stocks were back near their session lows late Wednesday after rebound efforts waned.
The Nasdaq was off 0.8% and wrestling with its 50-day line, which it breached earlier. Meanwhile, the Dow Jones industrial average and the S&P 500 were each off…

Stocks Work Off Lows; Cimpress Breaks Out

Stocks were off their session lows Wednesday afternoon after falling on weak jobs data and mixed reports on factory activity. Hurt by biotechs and chips, the Nasdaq lost 0.7% and the S&P 500 fell 0.5%. They were off as much as 1.2% and 0.9% intr…

Stocks Off Worst Levels After Weak ISM Report

Stocks were trading lower near midday Wednesday, but off the morning’s worst levels after the March ISM manufacturing report came in weaker than expected.
The Nasdaq and the Dow Jones industrial average fell 0.6% while the S&P 500 gave up 0.5%. …

Stocks Tumble In Heavy Trade; Twitter And Sears Holdings Gain

Stocks opened in the hole, then dug deeper Wednesday, despite data-driven rallies in China and Europe.
The Nasdaq tumbled 1%. The Dow Jones industrial average dropped 0.9% and the S&P 500 showed a 0.8% loss.
Volume was sharply higher, up 29% on th…