Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
(By Genevieve Hawkins) Last week might have been fine if it hadn't been for Friday's sell-off, where the Dow's 316-point drop led all of the indexes into negative territory. The Dow lost a modest .9% last week, while the S&P 500 shed 1.7% and the ever-falling Nasdaq dropped 1.4% on increasing recession fears and a weak dollar. With some camps coming to the conclusion that the worst may not be in the rear view mirror, there is a renewed risk of market sell offs. Economic data of interest in the coming week include the ISM manufacturing and service sector reports, Thursday's data on pending home sales, and Friday's February employment report. Investors have largely formed two camps in regards to the markets going forward, with the Bulls thinking that the worst is over, that now is the time to find deals before the market gets hot again. The Bears, meanwhile, believe that it's been a sucker's rally, and that not only is the worst to come but that the entire system is about to collapse. The Bulls have history, which says that the markets will trend towards their means and eventually rise, while the Bears have a smattering of reports that indicate that these times are unprecedented, and therefore that there is no bottom. The Bears may have an edge for the coming week until the dollar stops its plunge.
The Investrend Earnings Calendar features ABM Industries (NYSE: ABM), expected at $0.17 a year ago versus $0.18, Financial Federal (NYSE: FIF), expected at $0.5 versus $0.46. The market will also be watching the Investrend Money Index Most Actives Novell Inc (NASDAQ: NOVL) up 13.91% and 3com Cp (NASDAQ: COMS) up 13.06%.
The Investrend Economics Calendar lists Construction Spending for January (10 a.m.), ISM Index for February (10 a.m.), Treasury auctions 3- and 6-month bills (1 p.m.), Auto Sales for February.
The Investrend Events Calendar showcases CTXS, GOOG, HPQ, MOT, JAVA, VRSN, CREL at Morgan Stanley Technology Conference, GLUU, BCSI, GLOW, FTWR, INAP, LCCI at Merriman Curhan Ford, & Co. 2nd Annual IP Video Conference, HME, OFC, WRI, AKR, TCO, CLP at Citigroup Global Property CEO Conference, LNC, XL, ALL, AGII, UNM at AIFA Annual conference, TOL, CZN, MDTH, SXCI, CERN, HLX, ARW at Raymond James Annual Institutional Investor Conference, XL, ALL, HRH, AGII at AIFA Annual Conference.
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. Last session's trading showed six advancers versus 44 decliners. Advancers were led by Novell Inc (NASDAQ: NOVL) up 13.91%, 3com Cp (NASDAQ: COMS) up 13.06%. Decliners followed RH Donnelley New (NYSE: RHD) down 24.09%, MF Global (NYSE: MF) down 17.18%, Sonus Networks Inc (NASDAQ: SONS) down 13.99%, Sprint Nxtel Cp (NYSE: S) down 12.11%, E*Trade Finl Corp (NASDAQ: ETFC) down 9.15%, Amer Intl Group Inc (NYSE: AIG) down 6.56%, Companhia Vale Ads (NYSE: RIO) down 6.39%, Level 3 Comm Inc (NASDAQ: LVLT) down 6.30%, Juniper Networks (NASDAQ: JNPR) down 6.19%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
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Quote of the Day: "You can build a throne with bayonets, but you can't sit on it for long." Boris Yeltsin
Today is: National Anthem Day.
Happy Birthday: George Pullman, Alexander Graham Bell, Jean Harlow, Julius Boros, James Doohan, Doc Watson, Lee Radziwill, Jessica Biel.
Today in History: The United States Mint was created by the U.S. Congress in 1791. The U.S. Congress passed the Missouri Compromise in 1820. Florida was admitted as the 27th U.S. state in 1845. The United States Department of the Interior was established in 1849. The U.S. Congress enacted the Comstock Law in 1873, making it illegal to send any "obscene, lewd, or lascivious" books through the mail. The United States Geological Survey was created in 1879. Kaiser Wilhelm II of Germany became the first person to make a sound recording of a political document, using Thomas Edison's cylinder in 1904. J.D. Rockefeller Jr. retired from managing his businesses in 1910 so that he could devote full time to being a philanthropist. TIME magazine was first published in 1923. The United States officially adopted "The Star-Spangled Banner" as its national anthem in 1931. Elvis Presley appeared on television for the first time in 1955. Nuri as-Said became the prime minister of Iraq for the 14th time in 1958. The tallest free-standing structure in the Southern Hemisphere, Sky Tower in downtown Auckland, New Zealand, opened in 1997 after two-and-a-half years of construction.
[FirstAlert was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert do not necessarily reflect the opinions of Investrend.]
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