No more hot picks from The Penny King, sorry, but keep the funnin cumin...
Driving the Western devils out of Saudi Arabia not only plays to its fervored fundamentalist constituency but also throws another monkey wrench into the oil spigot. Meanwhile, OPEC and Saudi Arabia sources don’t believe the attacks will materially impact increased production, but oil prices could nevertheless rise when the New York and London crude futures markets reopen today. If there is any “good” to be had out of rising oil prices, it has to be the prospect that alternative fuels and alternative engines and delivery systems will rise from the ashes.
The Investrend Earnings Calendar focuses on Pall Corp (NYSE: PLL), expected at $0.39 versus $0.36, United Natural Foods (NASDAQ: UNFI), expected at $0.20 versus 0.16, ande Esterline Technologies (NYSE: ESL), at $0.38 versus $0.26.
The Investrend Economic Calendar features ISM Manufacturing Index for May, Construction Spending for April, Challenger Layoffs Report for May, all at 10 a.m., and Treasury auctions for 3- & 6-month bills.
The Investrend Events Calendar spotlights the TriQuint Semiconductor Mid-Quarter Financial Update in Hillsboro, Oregon.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE / NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Thursday’s Investrend “money stocks” showed 28 advancers and 32 decliners. The advancers were led by Utstarcom, Inc. (NASDAQ: UTSI), up 10.34%, Level 3 Communications (NASDAQ: LVLT), ahead 6.96%, Ciena Corp. (NASDAQ: CIEN), up 6.53%, and Novellus Systems (NASDAQ: NVLS), ahead 6.09%. The decliners were led by Super Tech (NASDAQ: SCON), down 11.54%, Coeur D’Alene (NYSE: CDE), off 7.31%, and El Paso Corp. (NYSE: EP), down 6.73%.
These conditions may impact the conference calls on tap today on Investrend Broadcast via partner BestCalls. Conference call details are at Investrend Broadcast at http://www.investrendbroadcast.com
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Qaeda Plan to Run Americans Out of Saudi Arabia Appears to be Working June 1, 2004. (FinancialWire) Employees of General Electric (NYSE: GE), Honeywell (NYSE: HON) and Royal Dutch / Shell (NYSE: RD) were among those living at the compounds struck by the terrorist attacks over the weekend in Saudi Arabia.
CAFTA, Son of NAFTA, Signed by U.S., Central American Countries June 1, 2004. (FinancialWire) Son of NAFTA, the U.S.-Central American Free Trade Agreement, aka CAFTA, has been signed by the U.S. and Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
Stent Wars Will Last At Least Until October 2005, After Injunction Fails June 1, 2004. (FinancialWire) The Stent Wars entered a new phase Friday when an appeals panel refused to quash a court ruling that allows Boston Scientific’s (NYSE: BSX) drug-eluting stent to continue to compete in the marketplace during its patent disagreement with Johnson & Johnson (NYSE: JNJ). Cordis, a J&J unit, had hoped to secure an injunction against Boston Scientific’s Taxus stent, accusing it of infringing on the Cordis patent.
Mining Sector in Play: Lots of Takeover Candidates June 1, 2004. (FinancialWire) The mining sector appears to have been set into play with the offer by Coeur d'Alene Mines Corp. (NYSE: CDE) to acquire Wheaton River Minerals Ltd. (TSX: WRM; AMEX:WHT) for $1.7 billion in stock and cash, and the $884 million all-shares bid by Golden Star Resources (AMEX: GSS; TSX: GSC) to buy Iamgold Corp. (AMEX: IAG; TSX: IMG).
StockGate: Torrent of Berlin Delistings in What One Company Calls ‘German Listing Scam’ June 1, 2004. (FinancialWire) Demands for “delisting” from the Berlin Stock Exchange have become a torrent since FinancialWire first reported April 26 that the exchange had included some 200 companies, most of them without permission, among its listings. On April 29, in an exclusive interview with FinancialWire, officials of the Berlin exchange admitted to the listings, but claimed permission from the companies was not necessary.
ValuEngine Upgrades RF Micro, FelCor, Cytogen to ‘5’ Rating June 1, 2004. (FinancialWire) (Investrend Research Syndicate) ValuEngine, Inc. (www.ValuEngine.com) has upgraded six companies, including RF Micro Devices Inc (NASDAQ: RFMD), Kindred Healthcare Inc (NASDAQ: KIND), FelCor Lodging Trust Incorporated (NYSE: FCH), and CYTOGEN Corporation (NASDAQ: CYTO) to a “5” rating, its highest.
Misonix Upgraded to ‘Buy,’ Digital Recorders at ‘Specuative Buy,’ But at What Price? June 1, 2004. (FinancialWire) Misonix (NASDAQ: MSON) was upgraded from “speculative buy” to buy by analyst John Nobile of Taglich Brothers, and Digital Recorders Inc (NASDAQ: TBUS) was reiterated at “speculative buy,” but its target price raised from $7.30 to $12, according to New Ratings, which posts research updates on major websites such as Yahoo (NASDAQ: YHOO).
Kids ‘Green’ Monster Movie Tops Adult’s ‘Green’ Environment Flick June 1, 2004. (FinancialWire) All those late night lines at the boxoffice and “sold out” notices over the Memorial Day weekend may have been for "The Day After Tomorrow," released by Twentieth Century Fox, a unit of News Corp.'s (NYSE: NWS) Fox Entertainment Group Inc (NYSE:FOX), but an $86 million boxoffice wasn’t quite enough to overtake the $92.2 million the kids were shilling out in the afternoons for “Shrek 2,” from DreamWorks.
Orphan Boy Resources Raises $2.6 Million in Private Placement June 1, 2004. (FinancialWire) Orphan Boy Resources (TSX Venture: ORS) has closed a non-brokered private placement for $2,652,333. The placement is for units comprised of one common share and one non-transferable warrant at a price of $1.00 per unit. Each non-transferable warrant entitles the purchaser to purchase one common share for a period of two years at the exercise price of $1.25.
IMI International Medical Licenses Technology to Johnson & Johnson Unit June 1, 2004. (FinancialWire) IMI International Medical Innovations Inc. (TSX: IMI; Amex: IME) has announced an exclusive worldwide non-Canadian licensing agreement with McNeil Consumer Healthcare, a Johnson & Johnson company (NYSE: JNJ), for IMI's non-invasive cardiovascular risk assessment technology.
Broadview Press Gains 28.21% on 4X Average Volume Friday June 1, 2004. (FinancialWire) Broadview Press (TSX Venture: BDP) gained 28.21% on Friday on volume of 11,500, more than four times its average volume, to close at $0.25. There were no trades yesterday, which was a holiday in the U.S.
FirstAlert: 10-11 a.m. Investrend / Bestcalls June 1, 2004. (FinancialWire) Conference calls scheduled during the 10 a.m. to 11 a.m. period on Investrend Broadcast via partner BestCalls include TippingPoint Technologies (NASDAQ: TPTI), United Natural Foods,Inc. (NASDAQ: UNFI).
FirstAlert: 1-2:30 p.m. Investrend / Bestcalls June 1, 2004. (FinancialWire) Conference calls scheduled during the 1 p.m. to 2:30 p.m. period on Investrend Broadcast via partner BestCalls include First Consulting Group, I (NASDAQ: FCGI), Flagstar Bancorp, Inc. (NYSE: FBC), Bank of Nova Scotia (NYSE: BNS).
FirstAlert: 4 p.m. Investrend / Bestcalls June 1, 2004. (FinancialWire) Conference calls scheduled during the 4 p.m. period on Investrend Broadcast via partner BestCalls include CompuCom Systems, Inc. (NASDAQ: CMPC), Safeguard Scientifics, In (NYSE: SFE), eOn Communications Corp. (NASDAQ: EONC).
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