Goldman Sachs Posts Huge Earnings Miss

Further evidence of weakness among global banks came in the form of a huge earnings disappointment issued by Goldman Sachs (NYSE: GS) earlier today. Goldman’s earnings missed analyst expectations by a wide margin, reporting an anemic $0.78 EPS compared to the already depressed $1.99 EPS that analysts were expecting. Even taking into account one time… Continue Reading

Trina Solar Surging on Analyst Upgrade, Risk Appetite

Trina Solar (NYSE: TSL) continues to surge in trading today, following an analyst upgrade and a strong show for risk appetite more broadly. Collins Stewart analyst, Dan Ries, is upping his target for Trina from $27 to $29 per share, noting that the company’s cost structure is among the most favorable in the space. Mr…. Continue Reading

Equities Rally in Early Trade on Retail Fever

US indexes are higher at this hour as investors pin their hopes to a higher retail sales number tomorrow. This appears to be a case of putting the horse in front of the cart. As noted in the weekly playbook, the 10,000 mark for the Dow will serve as a stubborn level of resistance as… Continue Reading

Equities, Euro Surge on Short Covering; ISM Disappoints

Following declines in 9 of the past 10 trading days, traders are covering their short positions and pushing markets higher in the process. The major US indexes are gaining better than 1.5% apiece at this hour while the euro heads higher across the board. The ISM data came in worse than expected at a reading… Continue Reading

Tesla IPO Debuting Soon – A loser in the making

Tesla Motors (NDAQ: TSLA) is scheduled to debut any time now, with indications pointing to a $17 per share price tag. The target range for Tesla had been set for $14 to $16 per share, making the $17 pricing better than expected — but perhaps for no good reason. The company has been a net… Continue Reading

Morgan Stanley Leads Bank Shares Lower

Bank shares are getting routed in early today, with Morgan Stanley (NYSE: MS) leading the group to fresh lows. Shares of Morgan Stanley are lower by over 3% in early trading, last priced at $23.73. As a whole, the banking sector has faced extreme pressure in trading of late, as concerns ranging from a slowing… Continue Reading

Goldman Sachs: First Solar Shares a ‘Top Pick’ Buy

Goldman Sachs (NYSE: GS) sees upside for First Solar (Nasdaq: FSLR), initiating coverage on the stock with a “buy” rating and an optimistic target price. Goldman analyst, Mark Wienkes, is naming First Solar a “top pick,” tantamount to a strong buy rating on the stock. (Of course, Goldman’s record with top picks has been a… Continue Reading

Options Trader Betting on KB Home

A trader is selling volatility on KB Home, following last weeks earnings release that dragged shares of the homebuilder lower by 9%. The trader sold over 3,000 contracts of the August $10 puts on the homebuilder, which nearly matches the average daily options volume on KB Home in a single trade. The contracts were written… Continue Reading

BP Shares Plummet on Technical Breach

Shares of BP (NYSE: BP) are falling sharply in trading today, as shares took out the key $29 support level during yesterday’s session. Last priced at $27.21, shares of the oil giant are down over 5% in early trading. Yesterday, shares broke through the $29 support level, which should send shares as low as $21… Continue Reading

KB Home Leads Homebuilders Lower

Home builders are on the decline in trading today, led by a worse-than-expected earnings report out of KB Home (NYSE: KBH). Shares of KB Home are lower by over 8% in early trading — and falling fast — as the homebuilder posted a loss of $0.40 per share for the quarter ended May 31, compared… Continue Reading