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Closing Bell: Choppy But Solid Day Ahead of Unemployment (HPQ, DELL, PAR, ME, BKC, OREX, AAPL)

Today was up most of the day but it felt choppy compared to yesterday's gains. A strong gas supply, a tick up in housing data, and a small decrease in weekly jobless claims all helped to offer a strong market for many sectors. Here were today's unofficial closing bell levels:

Dow Jones 10,320.10 +50.63 (0.49%)
S&P 500 1,090.10 +9.81 (0.91%)
Nasdaq 2,200.01 +23.17 (1.06%)

Continue reading Closing Bell: Choppy But Solid Day Ahead of Unemployment (HPQ, DELL, PAR, ME, BKC, OREX, AAPL)

Closing Bell: The Bulls Start Taking Cover (AIG, ACAS, CAL, GRMN, ITMN, MPEL)

Protests and riots in Greece continued as the country's financial situation remained on the edge of the abyss. It seems that even a $144 billion aid package isn't going to be enough to calm the skeptics.

Here were today's closing bell levels:

Dow 10,866.83 -59.94 (-0.55%)
S&P 500 1,165.87 -7.73 (-0.66%)
Nasdaq 2,402.29 -21.96 (-0.91%)

Top Analyst Calls

Continue reading Closing Bell: The Bulls Start Taking Cover (AIG, ACAS, CAL, GRMN, ITMN, MPEL)

Seven Buys for the Chinese New Year

"Happy New Year. No, I'm not seven weeks late. 1.3 billion Chinese are celebrating the biggest holiday of the year -- Chinese New Year," notes Tony Sagami.

The contributing editor to UnCommon Wisdom explains, "The Lunar New Year is considered to be a combination of Thanksgiving, Christmas and New Year's all rolled into an elaborate celebration of reflection, gratitude, renewal and hope. It is the single most celebrated holiday in China.

Continue reading Seven Buys for the Chinese New Year

Options Update: Barrick Gold volatility low; gold rallies to $977

Barrick Gold (NYSE: ABX) closed at $37.18. Gold is recently up 1.43% to $977 according to Bloomberg. ABX June option implied volatility is at 45, July is at 47; below its 26-week average of 66, according to Track Data, suggesting decreasing price movement.

Melco Crown Entertainment (NYSE: MPEL) closed at $6.06. MPEL's City of Dreams in Cotai, Macau, is scheduled to open on June 1. MPEL June option implied volatility is at 91, October is at 95; near its 26-week average according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Melco Crown (MPEL): Gamble on Macau

"Since 2002, Macau has become a gambling mecca like no other, even Las Vegas" says Jim Trippon, who looks at Melco Crown Entertainment (NASDAQ: MPEL).

In his specialty newsletter, The China Stock Digest, he explains "Simply put, the Chinese love to gamble, and the combination of their new freedoms and new wealth have uncorked a gusher of revenue."

He explains, "Melco has delivered industry-beating earnings growth in the booming Macau gaming, entertainment, and hospitality industries. The company's recent reorganization has lifted it from a loss to profitability. Net revenue for the first quarter of 2008 was $482.9 million, up from $179.8 million in the fourth quarter of 2007. That's a 267% jump!

"Net income for the first quarter of 2008 was $43.2 million, compared with a net loss of $36.5 million in the fourth quarter of 2007. In a few short months the company's key asset, Crown Macau, has become the busiest casino in the world in gaming volume.

"Macau's government announced in April that it would rein in the booming gaming industry by halting the issue of new licenses and by freezing land allocations for the construction of more casinos.

Continue reading Melco Crown (MPEL): Gamble on Macau

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 11:16 PM

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