Stock Market News – SanDisk Corp (SNDK) Altera Corp (ALTR) Expeditors (EXPD) and Intuit (INTU) Among Laggards

Logo for Intuit and Sandisk

(Best Syndication News) Stocks are opening lower in Asia early Monday after closing slightly higher last week (see stock charts below). There is little good news in Asia: the Australian Producer Price Index (PPI) declined last quarter and the HSBC Manufacturing PMI for China climbed to just 49.1 in April.

The dollar (USD) was lower against all major currencies on Friday; however on the week the greenback eked-out a 0.94 percent gain vs the Japanese yen (JPY). The euro (EUR) has been hit hard by the political and economic uncertainty surrounding Spanish sovereign debt (see the average forex chart below).

June gold on the COMEX gained just slightly on Friday but is lower on the week (see the commodity chart below). Light sweet crude oil on the New York Mercantile Exchange (NYMEX) added 1.02 percent on the week. Gasoline and silver prices were lower on Friday.

On Wednesday the Federal Reserve will hold their Federal Open Market Committee (FOMC) Meeting. No major announcements are expected and the target rate is expected to remain unchanged.

Of the 487 stocks in our widely-held index, only 172 were lower on Friday. SanDisk Corporation (NASDAQ:SNDK) fell more than any other constituent, down more than eleven percent during the session.

An earnings miss for their first quarter was devastating and a downgrade by Deutsche Bank didn’t help matters. The volume of trading of SNDK was up more than 400 percent above average.

Altera Corporation (NASDAQ:ALTR) was another loser in our index. The share price fell more than eight percent on volume over 300 percent above average.

The semiconductor company missed analyst expectations by just one cent, but the decline in first quarter revenue was disappointing. Analysts had expected earnings of 36 cents but the actual earnings were just 35 cents per share.

Expeditors International of Washington (NASDAQ:EXPD) also fell more than eight percent during the session. In the after-hours EXPD climbed 40 cents to $42.36.

There was a bid of $41.82 on 100 shares and an ask of $42.67 on 100 shares. Volume was up 400 percent above average.

Intuit Inc. (NASDAQ:INTU) fell nearly six percent in one day. Friday was the third-straight day of declines for the financial management solutions company after a two percent gain on Tuesday.

In the after-hours INTU fell another three cents to $57.22 a share. There was a bid of $56.44 and an ask of $58.10 for 100 shares.

The volume shot-up 500 percent after the company told investors that their revenue might not as much as forecasted.

By: Dan Wilson

Widely-Held Stock Chart:

Friday One Day One Day 1-Week 30-Day
4/20/2012 Name Symbol Change % % %
35.91 SanDisk Corporation SNDK -4.56 -11.27% -12.65% -28.54% 1
35.25 Altera Corporation ALTR -3.25 -8.44% -5.95% -7.24% 2
41.96 Expeditors Intl. of... EXPD -3.78 -8.26% -9.43% -5.35% 3
0.268 Eastman Kodak Company EKDKQ -0.02 -6.94% -2.55% -4.63% 4
57.25 Intuit Inc. INTU -3.65 -5.99% -5.12% -1.58% 5
6.64 Micron Technology, Inc. MU -0.37 -5.28% -4.60% -20.29% 6
8.36 Bank of America Corp BAC -0.41 -4.68% -3.69% 3.85% 7
53.12 Sears Holdings Corporati... SHLD -2.54 -4.56% -7.89% -34.00% 8
21.37 The Progressive... PGR -1.01 -4.51% -4.34% -1.29% 9
7.91 Southwest Airlines Co. LUV -0.32 -3.89% -0.38% -6.72% 10
               
               
82.83 ONEOK, Inc. OKE 1.89 2.34% 3.25% -0.52% 477
59.39 Honeywell International... HON 1.39 2.40% 2.27% -0.65% 478
16.57 International Game Tech. IGT 0.43 2.66% 1.28% 5.88% 479
71.7 Schlumberger Limited. SLB 1.90 2.72% 4.86% -5.46% 480
219.9 W.W. Grainger, Inc. GWW 6.64 3.11% 3.15% 3.84% 481
73.93 Yum! Brands, Inc. YUM 2.52 3.53% 1.47% 9.67% 482
25.77 Lennar Corporation LEN 0.91 3.66% -1.30% 1.26% 483
51.7 Harley-Davidson, Inc. HOG 2.13 4.30% 7.35% 10.28% 484
32.42 Microsoft Corporation MSFT 1.41 4.55% 5.23% 1.34% 485
15.38 D.R. Horton, Inc. DHI 0.76 5.20% 3.78% -0.58% 486
10.48 E TRADE Financial Corp. ETFC 0.60 6.07% 4.17% 8.38% 487

Forex Table:

Friday Average Surveys 1 - 3 % Change Day % Change Wk % Ch 30-Day Ch 100-Day
4/20/2012 Average 1US$ = Currency Pos=$US Gain Pos=$US Gain Pos=$US Gain Pos=$US Gain
0.9636 Average Against Aussie -0.44% -0.31% 2.25% -3.98%
0.7563 Average Against Euro € -0.59% -0.84% -0.36% 0.87%
81.4519 Average Against Yen ¥ -0.09% 0.94% 0.15% 4.46%
0.6203 Average Against Pound £ -0.35% -1.41% -2.22% -3.50%
0.9087 Average Against Franc -0.64% -0.88% -0.73% -1.48%
0.9923 Average Against Canadian -0.28% -0.66% -0.37% -4.00%
Average 1Currency = US$ Pos=$US Loss Pos=$US Loss Pos=$US Loss Pos=$US Loss
1.0378 Average Against Aussie 0.44% 0.31% -2.20% 4.14%
1.3222 Average Against Euro 0.59% 0.85% 0.36% -0.86%
0.0123 Average Against Yen 0.09% -0.93% -0.15% -4.27%
1.6122 Average Against Pound 0.35% 1.43% 2.27% 3.63%
1.1005 Average Against Franc 0.64% 0.88% 0.74% 1.50%
1.0078 Average Against Canadian 0.28% 0.66% 0.37% 4.17%

Futures Chart:

Friday Survey # 2 (BSNCOM2) One-Day One-Day 1 Week 30-Day 100-Day
4/20/2012 Energy and Metal Settle $ Change % Change % Change % Change % Change
2056.00 Aluminum 3-mo LME 0.00 0.00% -2.51% -8.52% -2.37%
118.85 Brent crude (not settled) 0.54 0.46% -1.95% -2.57% 11.20%
56.47 Coal -0.11 -0.19% -0.93% -2.69% -17.11%
3.70 Copper HG 0.07 1.94% 1.96% -1.06% 12.09%
103.88 Crude oil (WTI) 1.61 1.57% 1.02% -0.78% 7.18%
2.15 Ethanol ZE CBOT -0.02 -0.83% -3.11% -6.24% -15.57%
1642.80 Gold GC 1.40 0.09% -1.05% -1.75% -2.13%
3.14 Heating Oil (HO) 0.01 0.40% 58.38% -1.59% 4.79%
1.93 Natural gas NG HH 0.02 1.05% -2.73% -18.21% -43.31%
676.20 Palladium PA 13.60 2.05% 4.63% 0.93% 15.45%
1580.40 Platinum PL 6.20 0.39% -0.19% -1.95% 2.48%
3.14 RB RBOB Gasoline -0.01 -0.36% -6.08% -2.70% 26.26%
31.65 Silver SI -0.13 -0.40% 0.83% -3.45% 1.72%
687.00 Steel Hot-Roll Coil 0.00 0.00% -0.43% -0.43% 9.05%
51.10 UxC Uranium U3O8 0.00 0.00% -0.58% -0.78% -4.49%
4/20/2012 Averages and Ratios Change One-Day 1 Week 30-Day 100-Day
354.5 Average All 1.66 0.47% 0.11% -1.30% 3.22%
664.3 Metals Average 3.52 0.53% 0.24% -1.39% 2.35%
41.4 Energy Average 0.29 0.71% -0.35% -2.10% 2.19%
51.9 Ratio Gold/Silver Prices 0.25 0.49% -1.86% 1.76% -3.79%
-62.4 Difference Plat-Gold 4.80 -7.14% -18.75% 3.65% -54.29%
1.04 Ratio Plat/Gold 0.00 -0.31% -0.86% 0.21% -4.50%
1.1 Ratio Brent / WTI Prices -0.01 -1.10% -2.94% -1.80% 3.75%
$14.97 Difference Brent - CL -1.07 -6.67% -18.55% -13.37% 50.30%

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