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From Briefing.com: Weekly Recap - Week ending 27-Dec-13

Dow -1.47 at 16478.41, Nasdaq -10.59 at 4156.59, S&P -0.62 at 1841.4

Sector Performance (% change of the day): Financials (-0.08%), Tech (-0.20%), Health Care (-0.13%), Consumer Staples (+0.25%), Consumer Discretionary (-0.35%), Industrials (-0.10%), Energy (+0.49%), Telecom (0.00%), Materials (+0.23%), Utilities (+0.19%).

Dow 0%, S&P 500 0%, Nasdaq -0.3%, Nasdaq 100 -0.3%, S&P 400 +0.1%, Russell 2000 -0.1%
The major averages did little to distinguish themselves in the final session of the week. The Dow Jones Industrial Average and S&P 500 both ended flat while the Nasdaq underperformed, shedding 0.3%.

Today's trading range was limited to just five points in the S&P 500, but that masks the fact the index rested near its flat line for the vast majority of the trading day. It is understandable that some rest was in order after the benchmark index gained 3.4% during the previous six affairs.

Buyers and sellers alike stuck to the sidelines today, but then again, just about everyone elected to forego today's session. On that note, NYSE floor volume totaled a paltry 414 million shares.

There was no concerted leadership among individual sectors as two cyclical groups-energy (+0.5%) and materials (+0.2%)-and two defensive sectors-consumer staples (+0.3%) and utilities (+0.2%)-posted gains.

The energy sector was powered, in part, by crude oil, which rose 0.8% to $100.31 per barrel. The sector also drew strength from its top-weighted components. Chevron (CVX 125.23, +0.42) and ExxonMobil (XOM 101.51, +0.61) gained 0.3% and 0.6%, respectively.

The other commodity-related sector, materials, was kept afloat by steelmakers. The largest steel producer, ArcelorMittal (MT 17.75, +0.42) jumped 2.4% while the broader Market Vectors Steel ETF (SLX 49.71, +0.83) advanced 1.7%.

Despite the modest gains in a handful of sectors, the broader market was held in check by the underperformance of its three largest groups as technology (-0.2%), financials (-0.1%), and health care (-0.1%) spent the entire afternoon in the red.

Although the major averages ended little changed, the same could not be said for a recent momentum favorite. Twitter (TWTR 63.75, -9.56) plunged 13.0% after Macquarie downgraded the stock to 'Underperform' from 'Neutral.' Entering today, shares of Twitter were up 76.4% in December but today's tumble trimmed its month-to-date advance to 53.4%.

Elsewhere, the Treasury market endured a sleepy session as the 10-yr note slipped three ticks with its yield ending just a shade below 3.01%.

There was no data released today and Monday's economic data will be limited to the Pending Home Sales report, which will be released at 10:00 ET.
Nasdaq +37.7% YTD Russell 2000 +36.7% YTD S&P 500 +29.1% YTD DJIA +25.8% YTD

Week in Review: Santa Claus Visits NYSE

On Monday, the S&P 500 settled higher by 0.5%, registering its third consecutive gain. The benchmark index extended its December advance to 1.2% as eight of ten sectors ended in the green. Stocks jumped at the open with the technology sector (+1.5%) driving the early surge. The space received considerable support from its largest component, Apple (AAPL 560.09, -3.81), which spiked 3.8% after inking a long-rumored distribution agreement with China Mobile (CHL 52.76, +0.26).

Stocks ended Tuesday's abbreviated session with modest gains that were paced by cyclical sectors. The S&P 500 added 0.3% as energy (+0.6%), industrials (+0.5%), and materials (+1.0%) outperformed.

On Wednesday, U.S. bond and equity markets were closed for Christmas.

The bullish trend continued on Thursday with little in the way of the major averages. The Dow Jones Industrial Average (+0.8%) logged its sixth consecutive gain while the S&P 500 (+0.5%) posted its fourth advance in a row. Technology (+0.3%) and the financial sector (+0.2%) were the only cyclical groups that could not keep pace with the broader market. The remaining four cyclical sectors-consumer discretionary (+0.6%), energy (+0.9%), industrials (+0.7%), and materials (+0.6%)-all finished ahead of the S&P. Although trading volume finished at a one-year low, Twitter maintained its torrid pace on heaviest volume (82.5 million) since its market debut. The stock surged 4.8%, extending its December gain to 76.4%

Best and worst performing S&P 500 industry groups for Friday:
Industry Groups Gain Components
Aluminum +2.49% AA
Coal & Consumable Fuels +2.11% BTU, CNX, MEE
Steel +1.75% AKS, ATI, CLF, NUE, X
Diversified Metals & Mining +1.46% FCX, TIE
Oil & Gas Drilling +1.40% DO, HP, NBR, RDC
Leisure Products +1.15% HAS, MAT
Gold +1.12% NEM
Gas Utilities +0.96% GAS, OKE
Homebuilding +0.84% DHI, LEN, PHM
Advertising +0.82% IPG, OMC
Industry Groups Decline Components
Airlines -2.32% LUV
Computer & Electronics Retail -2.29% BBY, GME, RSH
Home Entertainment Software -2.12% ERTS
Internet Retail -1.65% AMZN, EXPE, PCLN
Specialized Consumer Services -1.45% HRB
Office REITs -1.33% BXP
Food Retail -1.16% KR, SVU, SWY, WFMI
Office Services & Supplies -0.88% AVY, PBI
Apparel Retail -0.82% ANF, GPS, LTD, ROST, TJX, URBN
Automobile Manufacturers -0.72% F

 
 Index	   Started Week  Ended Week  Change  % Change	YTD % 
 DJIA	     16221.14	 16478.41   257.27	1.6	25.7 
 Nasdaq	      4104.74	  4156.59    51.85	1.3	37.7 
 S&P 500	1818.31	  1841.40    23.09	1.3	29.1 
 Russell 2000  1146.40	  1161.09    14.69	1.3	36.7

Large Cap Gainers

S (10.7 +7.43%): Trading higher amid continued speculation that T-Mobile (TMUS) merger is in the works via Softbank.
BIDU (173.59 +3.77%): Perfect World (PWRD) entered into a definitive agreement to sell Beijing Huanxiang Zongheng Chinese Literature Website to Beijing Baidu Netcom Science Technology for RMB ~191.5 mln.
TOT (61.2 +1.53%): Strike at La Mede refinery has ended, according to reports.

Large Cap Losers

TWTR (67.85 -7.45%): Downgraded to Underperform from Neutral at Macquarie.
GIB (34.03 -4.49%): Co payments being threatened by two states, according to NYTimes.
DAL (27.02 -3.08%): Reuters discused how website glitch caused some to get flights for next to nothing for a short period of time yesterday - co will honor the transactions.

Mid Cap Gainers

QIWI (56.95 +1.73%): Announced acquisition of Blestgroup Enterprises.
WLK (120.58 +1.93%): Upgraded to Positive from Negative at Susquehanna; tgt raised to $145 from $118.

Mid Cap Losers

NLY (9.83 -2.87%): Trading ex-dividend today.
AAL (25.16 -3.71%): Weakness in airline names (SAVE also lower).

3D Systems (DDD 93.88, +1.82): +2.0% is seeing continued momentum that has the stock up nearly 25.0% in December.

5:53AM JinkoSolar Holding announced that four of its solar PV projects totaling 80MW in Xinjiang Uygur Autonomous Region have been successfully connected to the national grid (JKS) 28.25 :

Co announced that four of its solar PV projects totaling 80MW in Xinjiang Uygur Autonomous Region have been successfully connected to the national grid. As of the end of the fourth quarter of 2013, the Company has connected approximately 213MW worth of solar PV projects to the grid.
With an annual power generation capacity approaching 324 million kWh, all 213MW projects are qualified for China's national feed-in-tariffs over 20 years at the rate of RMB1.00 per kW/h (with 10MW qualifying for RMB1.15 per kW/h). Overall, these projects are expected to reduce CO2 emissions by 256,000 tons annually, saving about 110,000 tons of standard coal per year.

5:51AM LDK Solar submitted proposal to offshore creditors; issues FY14-18 revenue guidance (LDK) 1.40 :

Co announced that it executed confidentiality agreements in December 2013 with certain unaffiliated holders of the Renminbi-denominated US$-settled 10% Senior Notes due 2014 issued by LDK Solar, to facilitate discussions with the Holders concerning LDK Solar's potential restructuring of its offshore liabilities.
Pursuant to the terms of the Confidentiality Agreements, LDK Solar agreed that it would, immediately following the expiry of a period of time agreed with the Holders, disclose publicly the discussions between LDK Solar and the Holders and other confidential information concerning LDK Solar that was disclosed to the Holders. The information included in this announcement is being furnished to satisfy LDK Solar's public disclosure obligations under the Confidentiality Agreements. a part of an ongoing liability management program commenced in September 2013, LDK Solar has explored ways to restructure its highly leveraged balance sheet and reduce its significant cash flow requirements.
Following execution of the Confidentiality Agreements, LDK Solar and the Holders have further discussed LDK Solar's capital structure and various restructuring options proposed by LDK Solar in an effort to achieve a consensual restructuring and to prevent or forestall a liquidity crisis. LDK Solar has discussed the terms of the Proposal with holders of approximately 40% in aggregate principal amount of the outstanding Senior Notes and their financial and legal advisors.
But the Holders have not signed any agreement with LDK Solar to memorialize any agreed restructuring terms, and the negotiations are continuing. LDK Solar intends to continue discussions with the Holders on the terms of the restructuring support agreement. There can be no guarantee, however, that LDK Solar will successfully negotiate any restructuring support agreement or, if a restructuring support agreement has been reached, that it will reflect the terms of the Proposal, or achieve all or any of the stated objectives of the proposed restructuring.
Similarly as a part of the ongoing offshore liability management program, LDK Solar has also been in private discussions with certain holders of the Preferred Obligations, to explore ways to restructure its highly leveraged balance sheet and reduce its significant cash flow requirements. Affiliates of holders of Preferred Obligations have provided and/or agreed to provide financing, including a part of the RMB 2 billion working capital and capital expenditure facility referenced above, to LDK Solar for its continued operations, subject to various conditions and restrictions placed on the financing arrangements.
Likewise, none of the holders of the Preferred Obligations has signed any definitive agreement with LDK Solar to memorialize their restructuring terms, and the negotiations are continuing.
Co sees FY14 revs of $1.243 bln, may not compare to Capital IQ consensus $748 mln); FY15 revs of $1.631 bln; sees FY16 revs $1.797 bln; sees FY17 revs $1.849 bln; sees FY18 revs $1.846 bln (no FY15-18 ests)

Blackberry (BBRY) Co-founder Michael Lazaridis disclosed lowered stake in BBRY; currently shows a 4.99% stake in SC 13D. Lowered stake appears to be related to terminated agreement with issuer following conclusion of its review of strategic alternatives.On December 23, 2013, Ontario Limited, a corporation controlled by Michael Lazaridis, sold 3,166,893 Shares at an average price per share of $7.55 and on December 24, 2013, sold 333,107 Shares at an average price per share of $7.63, in each case through open market sales.

Ituran Location and Control (ITRN) announced that at the annual meeting of the shareholders of Ituran Location and Control held on December 26, 2013, the following resolution was adopted: To renew the appointment of the firm of Fahn Kanne & co. (a member firm of Grant Thornton international) as the Company's independent auditors for the year ending December 31, 2014 and until the Company's next annual general meeting and authorize the Audit Committee of the Company to determine their remuneration.

SuperCom (SPCB) announced that it has completed the acquisition of the Smart ID division from On Track Innovations (OTIV). Subsequently all the SmartID operations, key employees, regional subsidiaries, products and technologies, the broad range of ID and e-ID solutions, software platforms, patents and other IP assets have been transferred to SuperCom. In addition, SuperCom is gaining high gross-margin contracts, a rich and extensive pipeline of bids, proposals and leads, as well as a satisfied customer base and references around the world.