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March 8, 2012
Jim Cramer said its still not too late to take some money off the table. He told investors to forget about how the major averages are fairing and instead focus on individual stocks, some of which are doing well while others are imploding. Cramer said that in the markets of old, stocks tended to trade together, but not in today's market. In today's market, companies like Cypress Semiconductor (CY) announced seriously disappointing earnings, while rivals like Qualcomm (QCOM) and Broadcom (BRCM) were both up sharply. In the telco equipment space, shares of Ciena (CIEN) rallied while rival Cisco (CSCO) saw its shares slide south. The oil service sector was also mixed, with Ensco (ESV) heading higher and Baker Hughes (BHI) heading lower. Cramer said this pattern is repeating in sector after sector. The price of oil was up, but oil stocks were down. Gold was up, gold stocks were down. Apparel maker Lululemon Athletica (LULU) rallied, while Deckers Outdoor (DECK), a sector favorite, was down sharply. Cramer said with all this volatility in everything from the rails to the drugs to the industrials, investors need to lighten up on their winners and swap out of their losers. He said all of the major risk factors, including Greece, Iran and China, are still in play. Next, on the heels of the company’s big iPad announcement, Cramer said "It's getting difficult to trade Apple." He said the better strategy, "invest in Apple." Cramer said that many pundits are weighing in on whether Apple (AAPL) is worth owning after the stocks' big run ahead of the announcement. Traditionally, Apple shares have run up ahead of new products, only to sell of afterwards. But Cramer said he's done trying to trade Apple, he'd just rather own it for the long haul. Cramer said the new iPad is making major in-roads in the corporate world as Research In Motion's (RIMM) Blackberry is riding off into the sunset. Cramer said no matter how you look at it, shares of Apple are still cheap and are still worth owning for the long haul.Looking for an Internet stock? Cramer said "forget about the dot-com IPOs" like Pandora (P), Yelp (YELP) and Groupon (GRPN). What investors really need is a seasoned dot-com that's been around the block a few times. Cramer said that IAC Interactive (IACI) is the polar opposite of a stock like Yelp. This company has no hype, but a ton of earnings and a share huge buyback program. EXECUTIVE DECISION: Cramer sat down with Mike Stice, president and CEO of Chesapeake Midstream Partners (CHKM), a natural gas gathering master limited partnership with a 12% growth rate and a juicy 5.4% dividend yield. Stice started off by saying that he's encouraged by the Obama administration's recent support for natural gas vehicles. He was also equally excited about a recently announced partnership between Chesapeake Energy (CHK) and General Electric (GE) to offer home fueling stations for natural cars. Cramer said that Chesapeake Midstream is one of only a few companies that offer growth plus yield. LIGHTNING ROUND: (Bullish) EOG; GLD; HEI; IBKR. (Bearish) AVP; HES; ABX; DELL; DE; GLW.
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April 3, 2014
16:13 EDTCSCOCisco initiated with an Outperform at Northland Securities
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16:00 EDTAAPLOptions Update; April 3, 2014
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15:10 EDTIBKRInteractive Brokers confirms addition of IEX
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13:50 EDTGLWCorning May calls and puts active as shares at three-year high
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13:24 EDTIBKRInteractive Brokers to offer routing to IEX, CNBC reports
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13:09 EDTYELPYelp volatility up a day after FTC reveals over 2,000 complaints since 2008
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11:56 EDTYELPYelp drops again after revealing subpoenas are issued monthly
Shares of Yelp (YELP) are declining for a second straight day after the Federal Trade Commission disclosed yesterday that it had received over 2,000 complaints about the company over the last five years. Meanwhile, The Wall Street Journal, citing a Yelp spokeswoman, reported today that the company receives about six subpoenas per month. WHAT'S NEW: Yelp's stock is falling for a second day after the Federal Trade Commission yesterday stated that it had received 2,046 complaints about Yelp from 2008 through March 4, 2014. The agency's statement came in response to a Freedom of Information Act request by Wall Street Journal writer Angus Loten. Many of the subpoenas received by Yelp relate to lawsuits filed by business owners over reviews, The Journal reported. Other subpoenas that the company receives seek the names of anonymous users who have posted reviews on Yelp, the newspaper added. WHAT'S NOTABLE: Later this month, the Virginia Supreme Court is slated to hear a key lawsuit involving Yelp, The Journal noted. The carpet cleaning business that filed the lawsuit alleges that seven negative reviews about it which were placed on Yelp were fraudulent and may have been posted by its competitors, the newspaper stated. The business has sued the seven reviewers for defamation and is trying to force Yelp to disclose the names of the reviewers, The Journal reported. ANALYST REACTION: In a note to investors earlier today, SunTrust analyst Robert Peck wrote that the 6% decline in the stock yesterday was "likely an overreaction." The number of complaints received by the FTC against Yelp is not "noteworthy," given the large number of reviews on the website, Peck stated. Moreover, the number of subpoenas that the company receives is "uninspiring," the analyst argued. He kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, Yelp fell $3, or 4%, to $72.60.
10:49 EDTLULULululemon Athletica active call volume attributed to renewed takeover chatter
Lululemon Athletica active April weekly 55 and 56 call total call volume is attributed to renewed takeover chatter. April weekly call option implied volatility is at 43, April is at 34, June is at 38; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:34 EDTLULURumor: lululemon strength attributed to unconfirmed takeover speculation
10:00 EDTPPandora rises 5.1%
Pandora is up 5.1%, or $1.59, to $33.03
10:00 EDTBRCMOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
09:37 EDTAAPLActive equity options trading on open
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09:30 EDTAAPL, GEApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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09:27 EDTYELPYelp sell-off yesterday likely an overreaction, says SunTrust
SunTrust believes the number of FTC complaints regarding Yelp is not noteworthy given the number of companies that have been reviewed on the company's platform. The firm views yesterday's sell-off in shares as a likely overreaction but keeps a Neutral rating on the name.
08:31 EDTPPandora reports 75.3M active listeners at the end of March
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08:00 EDTQCOMQualcomm well positineed for China TD LTE opportunity, says Canaccord
Canaccord's monthly survey work indicates Buy rated Qualcomm is maintaining its dominant market share and content share in leading Android smartphones. The analyst also has increased confidence in Qualcomm's TD-LTE smartphone opportunity in China. As a result, the firm raised estimates and increased its price target to $90 from $86.
07:40 EDTAAPLApple bulls bet new products to prompt stock revival, Bloomberg says
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07:15 EDTDECKPiper remains a buyer of Deckers Outdoor following meetings
After spending two days with management, Piper Jaffray says it remains a buyer of Deckers Outdoor shares. Piper believes its Q1 DTC estimates could prove conservative and it expects shares to move higher as the company's growth recovers this year. It has an Overweight rating on the stock with a $96 price target.
06:36 EDTYELPYelp receives subpoenas monthly over users, WSJ reports
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05:52 EDTGLDSPDR Gold Trust overall implied volatility at 16; 26-week average is 19
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