Stock Market News – Office Depot (ODP) E TRADE (ETFC) MEMC (WFR) and Nabors (NBR) Report

WFR and SATC logo

(Best Syndication News) Stock markets are opening mixed in Europe after closing lower in Asia early Monday (see the stock charts below). Sovereign debt concerns are weighing heavy on equities.

Most markets in the United States and Europe ended lower last week while stock markets in Asia were generally higher (see the world index chart below). The DJIA was down 1.61 percent on the week while the Shanghai composite index gained 2.28 percent.

Although the Federal Reserve’s release of their Beige Book provided some optimism for investors Wednesday, higher than expected initial jobless claims and slower growth in China contributed to the pessimism.

Only 70 of the 487 stocks in our widely-held index were higher on Friday (see the widely-held index chart below). Office Depot Inc (NYSE:ODP) fell more than any other constituent in our index, down more than six percent in one day.

Investors in ODP began to take profits after two straight days of four-percent advances. In the after-hours the share price of ODP shot-up nearly two percent to $3.12. There was a wide range between the bid and ask prices.

E TRADE Financial Corporation (NASDAQ:ETFC) fell more than five percent. Two days of stellar gains and a new “neutral” rating provided the impetus for a sell-off of ETFC.

The financial sector was hit especially hard on Friday. The S&P financial sector dropped 2.52 percent while the energy sector fell only 1.58 percent (see the sector chart below).

MEMC Electronic Materials, Inc. (NYSE:WFR) was another loser, down nearly five percent. The silicon wafer maker shot up 12 percent on Wednesday providing a selling opportunity Thursday and Friday. The volume of trading was below average.

Solar companies, including WFR, were higher last week after SatCon Technology Corporation (NASDAQ:SATC) reported that first quarter orders could be up 27 percent.

In the after-hours, WFR gained a penny to $3.55. There was a bid of $3.30 on 500 shares and an ask of $3.72 for 1,000 shares.

Nabors Industries Ltd. (NYSE:NBR) fell nearly five percent during the trading day. Low natural gas prices hurt the drilling company’s stock. Natural gas futures on the New York Mercantile Exchange (NYMEX) are down 42 percent over the last 100 days.

By: Dan Wilson

World Market Chart:

Friday World Stock Indexes 1 Day 1 Day 1 Week 30-Day 100-Day
4/13/2012 N. & S. AMERICA Pt Change % Change % Change % Change % Change
12,849.59 Dow Jones Industrial -136.99 -1.05% -1.61% -0.87% 11.51%
1,370.26 S&P 500 -17.31 -1.25% -1.99% 0.43% 14.90%
3,011.33 NASDAQ Composite -44.22 -1.45% -2.25% 2.06% 19.15%
12,040.39 S&P TSX Canada -174.26 -1.43% -0.52% -3.86% 3.44%
61,887.28 Brazil Bovespa Stock -1,170.72 -1.86% -2.83% -7.58% 10.48%
38,444.01 IPC MXX - Mexico -913.80 -2.32% -2.42% 0.76% 8.12%
2,502.08 MerVal Buenos Aires -60.60 -2.36% -2.17% -7.01% 3.14%
796.29 Russell 2000 Sm-Cap -12.30 -1.52% -2.68% -0.92% 14.10%
810.73 Russell 3000 98% Mkt -10.26 -1.25% -2.02% 0.25% 14.99%
EUROPE
5,651.79 FTSE 100 England -58.67 -1.03% -1.26% -3.80% 6.38%
3,189.09 CAC 40 France -80.70 -2.47% -3.94% -8.56% 5.85%
6,583.90 DAX Germany -159.34 -2.36% -2.82% -4.12% 14.60%
714.78 Athens Greece Comp. 0.00 0.00% 1.01% -2.71% 7.17%
730.8 IGBM Madrid Spain -27.20 -3.59% -5.36% -14.21% -10.39%
6,072.12 SSMI - Swiss Market -53.27 -0.87% -1.48% -1.33% 9.95%
15,359.93 FTSE Italia All (Italy) -500.70 -3.16% -5.41% -13.54% 0.25%
ASIA & PACIFIC
2,359.16 Shanghai China 8.30 0.35% 2.28% -3.55% -1.13%
9,637.99 Nikkei 225 Japan 113.20 1.19% -0.52% -0.62% 16.30%
20,701.04 Hang Seng Hong Kong 373.72 1.84% 0.52% -2.65% 14.76%
7,788.27 TSEC Taiwan Exchange 125.35 1.64% 1.06% -2.70% 12.89%
4,323.30 S&P ASX 200 Australia -0.70 -0.02% 0.08% 1.96% 6.53%
17,094.51 BSE Sensex Bombay -238.11 -1.37% -2.24% -1.55% 5.74%
5,207.45 CNX NIFTY NSE India -69.40 -1.32% -2.17% -1.38% 7.34%
2,008.91 Korea Com KOSPI 22.28 1.12% -0.99% -0.35% 10.67%
2987.82 STI Singapore 9.68 0.33% 0.05% -0.13% 10.89%

Sector Chart:

Friday S&P Sector Name (10) One-Day One-Week 30-Day 100-Day
4/13/2012 % Change % Change % Change % Change
514.39 Energy -1.58% -1.46% -7.52% 1.64%
228.31 Materials -1.10% 0.47% -3.10% 9.43%
313.73 Industrials -1.22% -0.21% -1.62% 11.14%
352.29 Consumer Discretionary -0.28% -0.07% 2.57% 17.88%
346.49 Consumer Staples -0.09% -0.43% 1.70% 8.36%
423.39 Health Care -0.96% -1.25% 1.04% 11.60%
203.38 Financials -2.52% -1.18% 1.72% 21.15%
486.9 Info Tech -1.64% -1.33% 2.52% 19.49%
127.65 Telecom Svc -0.99% -0.42% -2.08% 4.25%
174.32 Utilities -0.40% -1.15% -1.33% -0.27%
Friday Dow Sectors (10) One-Day One-Week 30-Day 100-Day
4/13/2012 % Change % Change % Change % Change
3023.48 Basic Materials -1.28% -0.71% -3.55% 7.68%
3570.43 Consumer Goods -0.19% -1.53% 0.81% 10.67%
3934.54 Consumer Services -0.44% -0.98% 2.44% 15.95%
3132.56 Financials -2.05% -2.42% 1.78% 19.07%
3571.77 Health Care -1.04% -2.95% 0.52% 13.16%
3301.41 Industrials -1.27% -1.90% -1.00% 12.29%
5640.35 Oil & Gas -1.66% -2.84% -7.85% 1.86%
7360.12 Technology -1.74% -2.05% 2.03% 18.62%
1091.64 Telecommunications -1.01% -1.34% -1.99% 5.64%
1806.68 Utilities -0.41% -1.85% -1.55% -0.35%

Widely-Held Index:

Friday One Day One Day 1-Week
4/13/2012 Name Symbol Change % %
3.06 Office Depot, Inc. ODP -0.21 -6.42% -5.85% 1
10.06 E TRADE Financial Corp. ETFC -0.60 -5.63% -5.63% 2
8.68 Bank of America Corp BAC -0.49 -5.34% -5.96% 3
20.83 First Solar, Inc. FSLR -1.17 -5.32% -0.71% 4
17.28 Morgan Stanley MS -0.94 -5.16% -6.04% 5
3.54 MEMC Electronic... WFR -0.18 -4.84% 2.61% 6
16.16 Nabors Industries Ltd. NBR -0.82 -4.83% -2.65% 7
7.97 KeyCorp KEY -0.38 -4.55% -3.63% 8
8.02 Janus Capital Group Inc. JNS -0.37 -4.41% -5.65% 9
115.09 Goldman Sachs Group... GS -5.30 -4.40% -2.47% 10
             
             
33.2 The Dow Chemical Company DOW 0.53 1.62% -0.66% 477
61.67 Starbucks Corporation SBUX 1.05 1.73% 6.00% 478
123.16 Visa Inc. V 2.14 1.77% 1.78% 479
23.52 Avon Products, Inc. AVP 0.45 1.95% 0.43% 480
41.25 Autodesk, Inc. ADSK 0.79 1.95% -0.46% 481
26.56 The Gap Inc. GPS 0.60 2.31% 0.42% 482
32.57 Johnson Controls, Inc. JCI 0.74 2.32% 2.68% 483
40.67 Verisign, Inc. VRSN 0.98 2.47% 4.44% 484
21.19 Safeway Inc. SWY 0.52 2.52% 7.45% 485
0.275 Eastman Kodak Company EKDKQ 0.01 2.61% 0.73% 486
72.86 Yum! Brands, Inc. YUM 1.99 2.81% 3.08% 487

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