5 Stocks Spiking on Big Volume for Your Trading Radar

DELAFIELD, Wis. (Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.

Must Read: 5 Stocks to Trade for Big Breakout Gains




Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors."



Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it's always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock.



With that in mind, let's take a look at several stocks rising on unusual volume recently.

Must Read: 10 Stocks Billionaire John Paulson Loves in 2014

Phillip Morris

Phillip Morris (PM), through its subsidiaries, manufactures and sells cigarettes and other tobacco products. This stock closed up 0.58% to $86.05 in Monday's trading session.

Monday's Volume: 6.96 million

Three-Month Average Volume: 4.22 million

Volume % Change: 68%

From a technical perspective, PM trended modestly higher here right above its 50-day moving average of $84.53 with above-average volume. This spike to the upside on Monday also pushed shares of PM into breakout territory, since the stock took out some near-term overhead resistance at $85.90. Shares of PM are now starting to trend within range of triggering another breakout trade. That trade will hit if PM manages to clear some near-term overhead resistance levels at $86.57 to $86.77 and then above $87 with high volume.

Traders should now look for long-biased trades in PM as long as it's trending above its 50-day at $84.53 or above its 200-day at $82.91 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.22 million shares. If that breakout begins soon, then PM will set up to re-fill some of its previous gap-down-day zone from June that started just above $89 or even its 52-week high at $91.81.

As of the most recently reported quarter, Philip Morris was one of the top holdings at Renaissance Technologies. It was featured recently in on RealMoney in "Philip Morris Looks Mighty Tempting."

Must Read: 5 Dividend Stocks Ready to Pay You More

Lannett

Lannett (LCI), develops, manufactures, packages, markets and distributes generic versions of branded pharmaceutical products in the U.S. This stock closed up 5.1% to $43.46 in Monday's trading session.

Monday's Volume: 1.15 million

Three-Month Average Volume: 642,678

Volume % Change: 73%

From a technical perspective, LCI spiked sharply higher here right above some near-term support at $40 with above-average volume. This spike to the upside on Monday also pushed shares of LCI into breakout territory, since the stock took out some previous overhead resistance at $41.77. Market players should now look for a continuation move to the upside in the short-term if LCI manages to clear Monday's intraday high of $43.67 and then above its gap-down-day high from July at $44.50 with high volume.

Traders should now look for long-biased trades in LCI as long as it's trending above some near-term support at $40 or above its 50-day moving average of $38.18 and then once it sustains a move or close above $43.67 to $44.50 with volume that hits near or above 642,678 shares. If that move kicks off soon, then LCI will set up to re-fill some more of its previous gap-down-day zone from July that started at $47.89. Any high-volume move above $47.89 will then give LCI a chance to re-test its 52-week high at $51.66.

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Thoratec

Thoratec (THOR) develops, manufactures and markets proprietary medical devices used for mechanical circulatory support for the treatment of heart failure patients. This stock closed up 6.1% at $27.74 in Monday's trading session.

Monday's Volume: 4.42 million

Three-Month Average Volume: 939,902

Volume % Change: 320%

From a technical perspective, THOR ripped sharply higher here right above some near-term support at $25 with monster upside volume. This sharp spike to the upside on Monday also pushed shares of THOR back above its 50-day moving average of $27.64 and into its previous gap-down-day zone from August that started at $32.22. Traders should now look for a continuation move to the upside and into that gap if THOR can manage to clear Monday's intraday high of $27.92 with high volume.

Traders should now look for long-biased trades in THOR as long as it's trending above Monday's intraday low of $25.60 and then once it sustains a move or close above $27.92 with volume that hits near or above 939,902 shares. If that move materializes soon, then TROV will set up to re-fill some more of its previous gap-down-day zone from August that started at $33.22. Some possible upside targets if THOR gets into that gap with volume are $30 to $32.

Must Read: How to Trade the Market's Most-Active Stocks

LDR Holding

LDR Holding (LDRH), a medical device company, focuses on designing and commercializing various surgical technologies for the treatment of patients suffering from spine disorders in the U.S., France and internationally. This stock closed up 2.1% at $30.42 in Monday's trading session.

Monday's Volume: 296,000

Three-Month Average Volume: 217,017

Volume % Change: 50%

From a technical perspective, LDRH trended modestly higher here right above some near-term support at $28 with above-average volume. This stock recently broke out above some key overhead resistance levels at $28.41 to $28.48 with decent upside volume flows. Market players should now look for a continuation move to the upside in the short-term if LDRH manages to take out Monday's intraday high of $30.79 with high volume.

Traders should now look for long-biased trades in LDRH as long as it's trending above some key near-term support at $28 and then once it sustains a move or close above $30.79 with volume that's near or above 217,017 shares. If that move gets underway soon, then LDRH will set up to re-test or possibly take out its next major overhead resistance levels at $34.50 to $38.

Must Read: 5 Short-Squeeze Stocks Set to Soar on Bullish Earnings

Computer Task Group

Computer Task Group (CTG) operates as an information technology solutions and staffing services company in North America and Europe. This stock closed up 2.2% at $11.94 in Monday's trading session.

Monday's Volume: 153,000

Three-Month Average Volume: 64,461

Volume % Change: 95%

From a technical perspective, CTG jumped notably higher here right above its new 52-week low of $11.51 with above-average volume. This stock has been downtrending badly for the last two months and change, with shares falling sharply from its high of $17.38 to its new 52-week low of $11.51. During that downtrend, shares of CTG have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CTG have now started to spike higher off that 52-week low and off oversold territory, since its current relative strength index reading is 32.87.

Traders should now look for long-biased trades in CTG as long as it's trending above its 52-week low of $11.51 and then once it sustains a move or close above Monday's intraday high of $12.22 to some more near-term overhead resistance at $12.50 with volume that's near or above 64,461 shares. If that move gets started soon, then CTG will set up to re-test or possibly take out its next major overhead resistance levels at $13 to its 50-day moving average of $13.54, or even $14 to $14.50.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.

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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including

CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

U.S. Budget Deficit Falls to $128.7 Billion in August

J. Scott Applewhite/AP WASHINGTON -- The federal government ran a lower budget deficit this August than a year ago, remaining on track to record the lowest deficit for the entire year since 2008. The August deficit was $128.7 billion, down 13 percent from the $147.9 billion deficit recorded in August 2013, the Treasury Department said Thursday in its monthly budget report. With just one month left in the budget year, the deficit totals $589.2 billion, 22 percent below last year's 11-month total. The Congressional Budget Office expects the government to run a sizable surplus in September that will allow the government to close out the budget year with a deficit of $506 billion, the lowest since 2008. The improvement this year has occurred because of a 7.7 percent increase in tax revenues that offset a smaller 0.8 percent increase in spending. Revenues have been boosted by an improving economy and a tax increase that started taking effect in January 2013 that raised taxes on upper income individuals and eliminated a tax break workers had been getting on their Social Security taxes in the aftermath of the Great Recession. On the spending side, outlays have been restrained by efforts to get control of soaring budget deficits and by an improving economy which has cut spending in such areas as unemployment benefits and food stamps. With one month remaining in this budget year, outlays total $3.25 trillion while revenues total $2.66 trillion. If the deficit comes in at $506 billion as CBO is forecasting, that would be 26 percent below last year's imbalance and the lowest annual total since the 2008 deficit of $458.6 billion. The 2007-2009 recession and efforts to deal with the financial crisis sent deficits soaring above $1 trillion for four straight years. The deficit hit $1.4 trillion in 2009 and remained above $1 trillion for each of the next three years, finally falling to $680.2 billion last year. The CBO's latest forecast, released last month, sees the deficit declining to $469 billion next year before starting to rise again. The CBO forecast has the deficit climbing above $800 billion in 2021 and above $900 billion in 2022 and beyond. The big driver of those deficits will be the rising cost of Social Security and Medicare for the 78 million retiring baby boomers. Republicans blame President Barack Obama for failing to propose significant cuts to reduce soaring entitle costs. Democrats counter that Republicans would rather slash needed government benefit programs than impose higher taxes on the wealthy. Neither side has shown any desire to make major concessions in this congressional election year. Republicans controlling the House have unveiled a short-term spending bill that would keep the government open until Dec. 11. That would buy time to negotiate a catchall, $1 trillion-plus spending bill after the November midterm elections. There is little expectation that there will be a repeat of last year's tea party uprising when conservatives forced a budget standoff over implementing the new health care law that sparked a 16-day partial government shutdown.

CEO Envisions Bitcoin Stock System to "Wipe Out" Wall Street

Could a Bitcoin stock trading system be the cure for the many transgressions of Wall Street?

Overstock.com (Nasdaq: OSTK) CEO Patrick Byrne thinks so.

Last month he created a wiki page on the Internet to solicit help in creating a decentralized, purely digital stock trading system that would use Bitcoin's blockchain - the mechanism that records and verifies all the transactions - as its foundation.

"You would have an instant, frictionless market, while having the added benefit of wiping out a whole parasitic class of society - that is, the whole financial industry," Byrne told Wired in February.

Besides the Big Banks, Byrne told CoinDesk the system would bypass the Depository Trust & Clearing Corp. (DTCC), which provides clearing and settlement services to the U.S. capital markets.

"It's a corrupt organization that shows [the] influence of organized crime," Byrne said.

It's no surprise Byrne would seize upon a Bitcoin stock system as a weapon - this is not the first time he's targeted the powers of Wall Street...

A Legacy of Fighting Wall Street

Back in 2005, Byrne became notorious for his accusations that Wall Street was using naked short selling techniques to manipulate the prices of his and other companies' stock for their own gain. In naked short selling, a trader doesn't borrow shares to sell on the market - they simply sell shares they don't have.

In 2007 Byrne filed a $3.48 billion lawsuit against a dozen of Wall Street's biggest players, including Goldman Sachs Group Inc. (NYSE: GS), Merrill Lynch, Citigroup Inc. (NYSE: C) and Deutsche Bank AG (NYSE: DB). That suit is still pending.

Fast forward to last year, when Byrne became intrigued with Bitcoin. Unlike many in the financial community, the unconventional CEO immediately saw great potential in the digital currency.

Overstock.com started accepting Bitcoin as payment in January - the first major retailer to do so.

But he also recognized that the underlying Bitcoin technology could serve purposes beyond mere payments.

A Bitcoin stock trading system would take his fight against Wall Street to an entirely different level.

And for those who are sick and tired of Wall Street's dangerous games - the high-frequency trading that skims money away from retail investors, the thinly disguised manipulation of stock and commodities prices, the insane risks taken in a gambit for quick profits - a system that relegates these bad actors to the ash heap sounds very tempting indeed.

Byrne has made some promising first steps in making this Bitcoin stock trading system a reality, but he also faces some daunting challenges...

A Bitcoin Stock Trading System Would Be Great - but Can It Be Done?

Byrne is the first to admit that his Bitcoin stock trading project faces an uphill battle, but that's why he created the wiki page - to enlist the help of the Bitcoin community, lawyers, and financial experts to explore solutions.

"Instead of asking some law firm to spend $1 million to try and figure it out, we're turning it over to the world and say 'Hey you folks who want to see this happen, come and help figure out some of these questions on our wiki'," Byrne told CoinDesk.

The mechanics would be the easy part. For example, a company that wanted to sell 100 million shares of crypto-stock could buy a single Bitcoin and split it into the smallest slices possible - a Satoshi, or 0.00000001 of one bitcoin. Each slice would correspond to a share, and would have all the necessary ownership data embedded in it.

Such crypto-shares could then be traded over the Bitcoin network between individuals without any need for brokers or other Wall Street interference. The network would even facilitate shareholder voting.

And because all the transactions would be recorded in Bitcoin's public ledger - the blockchain - all trading would be completely transparent, making such Wall Street creations as "dark pools" impossible.

Less clear is whether the trades could be conducted smoothly and in a timely fashion, given that the Bitcoin network can take several minutes to verify a transaction. And liquidity could also be a problem.

But the biggest threat to a Bitcoin stock trading system is government regulators, particularly the U.S. Securities and Exchange Commission (SEC).

The SEC Is Mum on the Bitcoin Stock System - So Far

Always spoiling for a fight, Byrne actually seems to be looking forward to SEC scrutiny of his wiki page, which is entitled "How to issue a cryptosecurity."

"We're open-sourcing how to create an alternative to the current corrupt institutions that dominate Wall Street," Byrne told CoinDesk. "If their lap dog, the SEC, subpoenas me, I intend to open-source their subpoena and open-source my response. And when the DOJ indicts me, I'll post that online and we'll open-source our response to that."

Byrne is even mulling whether to offer some Overstock.com crypto-shares himself, but knows that means he will need to notify the SEC.

So far the SEC and other regulators have been silent on the concept of cryptosecurities - let's face it, regulators are still trying to wrap their heads around the idea of a digital currency - but SEC obstinance could nip any Bitcoin stock trading system in the bud.

That and Wall Street's opposition to the idea could make the whole thing a non-starter, even if there's enthusiasm among retail traders.

While Byrne may not succeed in wiping out Wall Street, a Bitcoin stock trading system could find a role as a supplement to the traditional exchanges, or possibly as a venue for penny stock trading.

Regardless, Byrne is committed to the fight no matter how quixotic it might seem.

"I wish to provide the world a way to give Wall Street some payback," Byrne told Wired, "in the form of a massive hot fudge high colonic that would be a cryptosecurity."

For more Bitcoin news and insights, follow me on Twitter @DavidGZeiler.

UP NEXT: A Bitcoin stock system is just one way the blockchain could be used. But those working on these exciting new applications for the blockchain need an easier way to access it. That's where this tiny San Francisco startup comes in. Welcome to Bitcoin 2.0...

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Wired: Overstock's Radical Plan to Reinvent the Stock Market With Bitcoin CoinDesk: Patrick Byrne: Overstock Exploring Blockchain-Based Public Stock Offering Wired: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street Overstock.com: How to Issue a Cybersecurity

Last Week's Biggest Stock Movers: Keep an Eye on the Cameras

www.gopro.com Plenty of stocks go up and down in any given week. The gainers inspire us to keep investing. The decliners keep greed in check while reminding us about the risks of the equity markets. Let's go over some of last week's best and worst performers. TubeMogul (TUBE) -- Up 47 percent last week The biggest winner among Nasdaq-listed stocks was TubeMogul, surprising the market with a profit in its first quarter as a public company. TubeMogul is trying to raise the bar when it comes to online video advertising, and its first time out with fresh financials is impressive. Revenue more than doubled, and TubeMogul's profit of 4 cents a share flabbergasted the pros, who were bracing for a deficit of 15 cents a share. Its guidance suggests that TubeMogul will revert back to a deficit during the next two quarters, but the market was still impressed by the healthy revenue and ad spend growth in its outlook for the balance of the year. GoPro (GPRO) -- Up 20 percent last week The leading maker of wearable cameras is going to the dogs. GoPro moved higher after introducing a new canine camera harness. GoPro's Fetch is a harness that offers a pair of mount locations for GoPro's high-def HERO cameras. The adjustable mount can be worn by dogs as small as 15 pounds, but it remains to be seen if PETA and other animal activists object to having cameras mounted on canines in the first place. Mobileye (MBLY) -- Up 15 percent last week Self-driving cars may be closer than we think. Shares of Mobileye -- a Jerusalem-based leader in camera-based advanced driver assistance systems, moved higher after analysts initiated coverage with favorable ratings. Barclays Capital (BCS), Citigroup (C), Morgan Stanley (JPM) and Robert W. Baird were among the analysts chiming in on the recently public company with upbeat outlooks. Mobileye's cameras make cars smarter, bringing us one step closer to automobiles that drive themselves. Smith & Wesson (SWHC) -- Down 15 percent last week The gun maker was firing blanks last week after posting a problematic quarterly report. Revenue plunged 23 percent, but inventory levels soared 60 percent. A glut of unsold weaponry is only going to add to the industry's cutthroat ways. Making matters worse, Smith & Wesson revised its full-year profit outlook sharply lower. Noodles & Co. (NDLS) -- Down 10 percent last week One of last year's hottest initial public offerings continues to come undone in 2014. The fast-casual chain of pasta-boiling eateries slumped after being called out not once -- but twice -- on CNBC. Jim Cramer was the first to diss Noodles & Co., singling it out on Monday's "Mad Money" show as one of five restaurant stocks that could give investors indigestion. Cramer feels that until same-store sales turn the corner, expansion is not in its best interest. "Fast Money" followed a day later, with Stephen Weiss suggesting that viewers sell the stock. GrubHub (GRUB) -- Down 10 percent last week The market was hungry for GrubHub earlier this year, but it's not really interested in going for seconds. Shares of the restaurant delivery platform stumbled after the company announced that it will sell 10 millions shares in a secondary offering. Underwriters are relaxing lock-up restrictions to allow insiders to unload some of their shares. GrubHub went public in April at $26 a share. The stock has moved sharply higher since the IPO, but secondary offerings this soon after going public often give the impression that insiders think the stock is peaking. More from Rick Aristotle Munarriz
•4 Familiar Stocks You Wouldn't Expect to Have High Yields •Wall Street This Week: Building, Furnishing Your Home •5 Dates for Savvy Investors to Circle in September

"TV Everywhere" Stinks, but These Companies Can Fix It

Your cable provider probably offers a TV Everywhere app and website with your cable subscription. And you probably don't use it.

A survey by NPD this spring found that just 21% of pay-TV subscribers used the TV Everywhere services offered to them. TV Everywhere overpromises and under delivers with just two words. You're lucky if you can stream more than 15 channels outside of your home and, often, those channels aren't worth watching. So it's no surprise that just one-fifth of subscribers "take advantage" of the service.

But "TV Everywhere" that fulfills its promise could become a reality in the near future, thanks to several companies working with content owners to provide Internet-delivered television. Sony (NYSE: SNE  ) plans to launch its service by the end of the year, and Verizon (NYSE: VZ  ) is aiming for mid-2015. Dish Network (NASDAQ: DISH  ) already has at least one content deal in the works, and rival DirecTV (NASDAQ: DTV  ) isn't far behind. Internet-delivered television could finally deliver on the promise of TV Everywhere.

A reason to switch
As Internet-delivered television starts rolling out, consumers will likely question why they should switch. After all, the same company that provides Internet access to their homes offers television service for a marginally tiny price when bundled. It will be next to impossible for these Internet-television services to beat them on price. Additionally, Internet TV isn't getting rid of the cable bundle. At least, not anytime soon.

Now, these services might provide a nice user interface. Tim Cook has remarked on several occasions how bad the television user experience has become -- leading to multiple Apple TV rumors. But most people are willing to put up with a suboptimal user interface on their big screens.

However, the TV Everywhere angle could be a huge selling point for Internet-delivered TV.

A survey from Nielsen found that for every hour of television Americans watched on a television set, they spent 20 minutes watching television on a smartphone or tablet. If the content available on mobile devices improves, those numbers will move closer together. There's clearly demand for content on devices other than television sets.

Why content companies are hesitant
Don't blame your cable company for its terrible TV Everywhere service. Content companies are hesitant to offer a lot of content because password sharing has become commonplace. It seems like everyone I know has an HBO Go password, but none of them pays for HBO.

The services that Dish, Sony, DirecTV, and Verizon are working on are personal streaming services. That means that they would be set up so they can only stream one channel to one device at a time.

The reason that hasn't been implemented with traditional pay-TV packages is that cable is supposed to be for a whole household. So, if you're traveling, your wife is commuting home, and your kids are over at a friend's house, and 24 Live Another Day is about to come on, you should all be able watch Jack Bauer at the same time.

Personal streaming should take care of the password sharing problem. Nobody's going to share a password because when showtime rolls around, and Jack Bauer's about to start busting heads, you don't want to be locked out of your TV service.

It's worth noting that these personal streaming models are aimed at individuals, not families, so they're limited to a single stream. However, Dish Network chairman Charlie Ergen might have a different definition of single-stream than the content companies, which makes the service more appealing to families if the company can deliver: "If everybody is watching the same channel," he told analysts, "We call that single stream."

What to expect from Internet TV
Dish seems to have made the most headway with content companies, negotiating deals with Disney and, more recently, A+E Networks and Scripps Networks. Sony has a deal in place with Viacom, and is reportedly speaking with Disney and Fox. Verizon and DirecTV have yet to announce any agreements with content companies despite talking about their plans.

Sony and Verizon seem to have an advantage over the satellite TV providers. Sony doesn't have to worry about cannibalizing other television services, and has millions of Internet-enabled devices in people's households already. Verizon has the infrastructure in place -- a content-delivery network, a wireless network -- to support Internet TV and keep prices low.

Dish Network and DirecTV don't have any huge advantages. Unless they can compete on cost or content, which is a double-edged sword considering it could cannibalize their satellite services, they won't be able to compete with Sony or Verizon's infrastructure.

Your cable company is scared, but you can get rich
You know cable's going away. But do you know how to profit? There's $2.2 trillion out there to be had. Currently, cable grabs a big piece of it. That won't last. And when cable falters, three companies are poised to benefit. Click here for their names. Hint: They're not Netflix, Google, and Apple.

An Option to Consider for your Portfolio

Sungy Mobile (GOMO) started exchanging Friday morning. The IPO was evaluated at $11.22, the high end of the $9.50-$11.50 range, however the stock opened for exchanging higher yet at $14.11. Speculators seem energetic about this versatile application powerhouse.

Outline

Sungy offers items to help clients deal with the capacities, applications, and gadgets on their Android-based telephones. Sungy's GO product offering applications incorporate with the Android working framework. They are expansions, additional items, and improvements to the working framework, running between the OS layer and the applications themselves. The GO Launcher stage is continually running and noticeable to the end client as though it was a piece of the Android working framework. Illustrations of their applications are the Go Locker and Go Launcher stage.

One preference Sungy has over some other portable application organizations is that as opposed to requiring a client to open a particular application, say a gaming application, in place for an organization to achieve and cooperate with the client, the GO Launcher stage is continually running on their cell phone. This brings Sungy and its income producing offerings, for example, outsider publicizing and premium offerings-closer to the end client. This perceivability is preference that may clarify Sungy's capability to adapt from versatile clients.

Sungy's item is decently received as seen by aggregate downloads on Google Play. For every App Annie Intelligence Report, the main 3 distributer rankings in 2013:

1. Facebook (FB)

2. Google Inc. (GOOG)

3. GO Launcher Dev Team

Development

Sungy is developing its GO product offering client base quickly. The table beneath pulled from the plan shows dynamic client development up just about 250% in the most recent eighteen months. Downright clients are up an incredible 300% over the same period. Sungy is likewise developing incomes rapidly. Anyhow not at all like numerous others in this space, the organization is really creating benefit. The initial nine month 2013 budgetary figures demonstrated beneath have officially surpassed full year 2012 numbers.

Valuation

Valuations in the versatile space shift enormously, yet by and large, they are well above what is connected to most different divisions because of fast development. A considerable lot of these versatile organizations are not productive, obligation ridden, or still prerevenue. Sungy Mobile then again has done about $10 million in net pay for the initial 9 months of 2013 and has no obligation. Anticipating out, the organization should do at any rate $13.5 million in pay for the full year 2013. Regardless of the possibility that development is moderating (from 80%-90% development), the organization is still right now creating incomes at any rate a 60% year over year cut.

As the offer value shows amid the first day of exchanging, Sungy surely is not "shabby". The organization charges a premium PE degree, unmistakably over the business normal. Yet this valuation is not totally unreasonable. Net salary went from a misfortune in 2011, $2 million benefit in 2012, to $10 million

Markets Close The Week On Negative Note As Ukraine Worries Mount

Related AAP UPDATE: Credit Suisse Reiterates On Advance Auto Parts As Merger Moves Forward Markets Gather Some Momentum As Volume Remains Light, Geopolitical Tension Improving

U.S. stocks erased early morning gains and finished lower following reports that Ukrainian artillery forces engaged armored vehicles entering Ukraine from Russia.

Narayana Kocherlakota, Minneapolis Fed President stated that labor strength in its current state appears to be far away from the Fed's goals.

“The fraction of people aged 25 to 54—our prime-aged potential workers—who actually have a job is still at a disturbingly low rate,” Kocherlakota said in a speech today. “Second, a historically high percentage of workers would like a full-time job, but can only find part-time work. Bottom line: I see labor markets as remaining some way from meeting the FOMC's goal of full employment.”

In addition, Kocherlakota said that he agrees with Congressional Budget Office's prediction that inflation won't rise to two percent until 2018.

Looking forward to the week ahead, CPI and housing starts will be on focus. The Fed will release the minutes from its July 29-30 meeting on Wednesday. Central bank leaders will convene in Jackson Hole on Thursday as both Janet Yellen and Mario Draghi will speak a the event.

Recommended: Best & Worst ETFs Of The Week Amid Geopolitical Uncertainty

The Dow lost 0.30 percent, closing at 16,662.91. The S&P 500 lost 0.01 percent, closing at 1,955.06. The Nasdaq gained 0.27 percent, closing at 4,464.93. Gold lost 0.79 percent, trading at $1,305.30 an ounce. Oil gained 1.54 percent, trading at $97.05 a barrel. Silver lost 1.61 percent, trading at $19.58 an ounce. News of Note July Producer Price Index rose 0.1 percent month on month, in-line with expectations. July core PPI rose 0.2 percent month on month, in-line with expectations. August Empire State Survey fell to 14.69 (versus expectation of 20) from 25.6 in July. July Industrial Production rose 0.4 percent, above the 0.3 percent expected. Capacity Utilization improved to 79.2 percent (in-line with expectations) from 79.1 percent. Preliminary August Reuters/UofM Consumer Sentiment declined to 79.2 (versus expectations of 82.3) from 81.8. Second Quarter E-Commerce Retail sales rose 4.9 percent quarter over quarter to $75 billion. Canada revised last week's employment report revising jobs gained from just 200 to 42,000. Analyst Upgrades and Downgrades of Note

Analysts at Credit Suisse maintained an Outperform rating on Advance Auto Parts (NYSE: AAP) with a price target raised to $160 from a previous $150. Also, analysts at Nomura maintained a Neutral rating on Advance Auto Parts with a price target raised to $135 from a previous $125. Shares lost 0.09 percent, closing at $131.47.

Analysts at Barclays maintained an Equal-weight rating on Aercap Holdings (NYSE: AER) with a price target raised to $53 from a previous $24. Shares lost 1.32 percent, closing at $47.06.

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Analysts at Nomura maintained a Buy rating on Berkshire Hathaway (NYSE: BRK-A) with a price target raised to $219,000 from a previous $208,000. Shares hit new 52-week highs of $$203,355.00 before closing the day at $201,227.00, down 0.80 percent.

Analysts at JPMorgan maintained an Overweight rating on Copa Holdings (NYSE: CPA) with a price target raised to $168 from a previous $163. Shares lost 0.25 percent, closing at $125.38.

Analysts at Credit Suisse downgraded E-Commerce China Dangdang (NYSE: DANG) to Neutral from Outperform. Taking the opposite side, analysts at JPMorgan upgraded Dangdang to Neutral from Underweight with a price target raised to $15 from a previous $7.50. Shares gained 0.91 percent, closing at $14.49.

Analysts at Argus Research downgraded JDS Uniphase (NASDAQ: JDSU) to Hold from Buy. Shares lost 0.69 percent, closing at $10.86.

Analysts at Wells Fargo downgraded KKR & Co (NYSE: KKR) to Market Perform from Outperform. Shares lost 2.08 percent, closing at $22.58.

Analysts at Nomura maintained a Buy rating on Kohl's (NYSE: KSS) with a price target raised to $65 from a previous $62. Also, analysts at MKM Partners maintained a Buy rating on Kohl's with a price target raised to $64 from a previous $63. Shares lost 0.05 percent, closing at $56.88.

Analysts at BTIG Research upgraded MBIA (NYSE: MBI) to Buy from Neutral. Shares gained 6.17 percent, closing at $10.49.

Analysts at Deutsche Bank maintained a Buy rating on Nordstrom (NYSE: JWN) with a price target lowered to $77 form a previous $78. Shares lost 5.21 percent, closing at $65.11.

Analysts at Jefferies maintained a Buy rating on Red Robin Gourmet Burger (NYSE: RRGB) with a price target lowered to $80 from a previous $90. Also, analysts at Wunderlich maintained a Buy rating on Red Robin with a price target raised to $92 from a previous $76. Shares gained 4.31 percent, closing at $54.90.

Analysts at Credit Suisse maintained an Underperform rating on The ExOne Company (NASDAQ: XONE) with a price target lowered to $21 form a previous $25. Also, analysts at Jeferies maintained a Hold rating on ExOne with a price target lowered to $30 from a previous $32. Shares lost 3.66 percent, closing at $27.61.

Analysts at Jefferies maintained a Buy rating on Vipshop Holdings (NYSE: VIPS) with a price target raised to $280 from a previous $240. Also, analysts at Macquarie maintained an Outperform rating on Vipshop with a price target raised to $270 from a previous $200. Shares gained 0.55 percent, closing at $218.49.

Analysts at JPMorgan maintained a Neutral rating on Wal-Mart (NYSE: WMT) with a price target lowered to $78 from a previous $80. Also, analysts at Raymond James maintained an Outperform rating on Wal-Mart with a price target lowered to $80 from a previous $83. Shares lost 0.66 percent, closing at $73.90.

Equities-Specific News of Note

BHP Billiton (NYSE: BHP) said that it would consider a de-merger of itself by spinning off various mining assets into new entities to simplify its portfolio. Shares gained 1.83 percent, closing at $72.45.

NQ Mobile (NYSE: NQ) announced that its Chief Financial Officer KB Teo resigned due to “family reasons” after only 11 months on the job. Shares gained 1.09 percent, closing at $6.48 but traded as low as $5.10 in the morning.

The U.K.'s National Institute for Health and Care Excellence supported the use of Gilead Pharmaceuticals' (NASDAQ: GILD) Sovaldi therapy. Shares closed the day at new 52-week highs of $99.49, up 3.25 percent.

Deere & Company (NYSE: DE) announced it will place 600 employees on indefinite layoff at some of its agricultural factories due to poor market demand. Shares lost 0.11 percent, closing at $84.80.

NGL Energy Partners (NYSE: NGL) and Transmontaigne Partners (NYSE: TLP) said that they have ended discussions over NGL Energy's non-binding proposal to acquire the outstanding units of Transmontaigne. Shares of NGL Energy lost 0.57 percent, closing at $42.21 while shares of Transmontaigne gained 0.54 percent, closing at $43.03.

Noble Energy (NYSE: NBL) said that its Bright exploration well in the deep-water Gulf of Mexico came up dry. Shares gained 0.73 percent, closing at $70.01.

Darden Restaurants (NYSE: DRI) hired recruiting consultants to assist the company in finding a new CEO. Shares lost 1.53 percent, closing at $46.37.

Priceline Group (NASDAQ: PCLN) plans to offer a private offering of notes worth $1 billion. The company said part of the proceeds will be used for stock repurchases. Shares lost 1.14 percent, closing at $1,270.12.

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Steven Madden (NASDAQ: SHOO) announced it acquired Dolce Vita Holdings for $60.3 million. Shares gained 2.41 percent, closing at $33.10.

Last night the board of directors of Chiquita Brands International (NYSE: CQB) rejected Cutrale and Safra's Groups acquisition offer of $13 per share and noted that it plans to proceed with a merger of Fyffes. Shares of Chiquita Brands hit new 52-week highs of $13.77 before closing the day at $13.63, up 0.89 percent.

Winners of Note

Coca-Cola (NYSE: KO) announced last night that it acquired a 16.7 percent stake in Monster Beverage (NASDAQ: MNST) as part of a strategic alliance. As part of the agreement, Monster Beverage will transfer its non-energy segments (such as Hansen's Natural Sodas, Huberts Lemonade) to be controlled by Coca-Cola. In exchange, Coca-Cola will transfer ownership of its energy segments including NOS and Full Throttle to Monster Beverage. Coca-Cola will now have two of its directors sitting on Monster Beverage's board. Shares of Coca-Cola gained 1.74 percent, closing at $40.88 while shares of Monster Beverage surged to new 52-week highs of $94.93 before closing the day at $93.50, up 30.50 percent.

Achillion Pharmaceuticals (NASDAQ: ACHN) disclosed that its HCV product candidate, ACH-3102 in combination with Sovaldi cured all 12 patients in a Phase 2 clinical trial. The company now plans to initiated a six week treatment with ACH-3102 and sofsobuvir without ribavirin. Shares hit new 52-week highs of $10.20 before closing the day at $9.25, up 9.60 percent.

Decliners of Note

This morning, Dillard's (NYSE: DDS) reported its second quarter results. The company announced an EPS of $0.80, missing the consensus estimate of $0.86. Revenue of $1.47 billion missed the consensus estimate of $1.53 billion. Net income for the quarter fell to $34.5 million from $36.5 million in the same quarter a year ago as the company increased markdown activities. Gross margin declined 33 basis points while SG&A expenses rose to $400.5 million from $398.2 million a year ago due to increased payroll expenses. The company sees its depreciation and amortization in 2014 being the same as it was a year ago at $255 million. Rentals are projected to come in one million lower in 2014 at $26 million interest and debt expenses is projected to fall to $61 million from $65 million a year ago. Capital expenditure is expected to rise from $95 million in 2013 to $150 million in 2014. Shares lost 8.21 percent, closing at $106.11.

A federal appeals court hearing Vringo's (NASDAQ: VRNG) case against Google has ruled against Vringo. As justification, the court cited a recent Supreme Court ruling that upheld the patent-ability of software concepts, but barred companies from patenting only an abstract idea on a computer. Shares collapsed to new 52-week lows of $0.67 before closing the day at $0.88, down 72.01 percent.

Earnings of Note

This morning, The Estee Lauder Companies (NYSE: EL) reported its second quarter results. The company announced an EPS of $0.45, missing the consensus estimate of $0.56. Revenue of $2.73 billion beat the consensus estimate of $2.66 billion. Net earnings for the quarter rose to $257.7 million from $94.0 million in the same quarter a year ago due to growth across all segments and all regions. Sales in the Americas rose 11 percent from a year ago to $1.103 billion; Europe, the Middle East & Africa sales rose 15 percent to $1.132 billion; Asia/Pacific sales rose 12 percent to $489.9 million. In addition, the company saw revenue gains in all of its product categories from a year ago. Skin Care revenues rose 14 percent to $1.205 billion, Makeup sales rose 12 percent to $1.064 billion; Hair Care sales rose six percent to $134.9 million while Other sales rose 95 percent to $11.3 million. Looking forward, Este Lauder expects its global prestige beauty will grow three percent to four percent, higher than industry averages. Shares gained 0.34 percent, closing at $76.16.

This morning, JD.com (NASDAQ: JD) reported its second quarter results. The company announced an EPS of –RMB0.01 and revenue of RMB28.6 ($4.61 billion.) Net loss for the quarter fell to RMB582.5 million ($93.9 million) from RMB28.3 a year ago due to amortization of intangible assets resulting from assets and business acquisitions related to the Tencent strategic partnership. Gross margin improved to 11 percent from five percent a year ago. Active customer accounts rose to 38.1 million from 19.6 million a year ago while fulfilled orders rose 126 percent from a year ago to 163.7 million. JD.com said that it will spend $569 million to $732 million in capex throughout 2014. The company issued guidance and expects its third quarter revenue to be in a range of $4.55 billion to $4.72 billion, below the consensus estimate of $4.77 billion. Shares lost 1.43 percent, closing at $29.58.

Quote of the Day

"In a similar vein, earlier this year, the Congressional Budget Office predicted that inflation will not reach 2 percent until 2018—more than 10 years after the beginning of the Great Recession. I agree with this forecast. This means that the FOMC is still a long way from meeting its targeted goal of price stability." -Narayana Kocherlakota in a speech delivered Friday.

Posted-In: Achillion PharmaceuticalsEarnings News Treasuries Economics After-Hours Center Markets Movers Best of Benzinga

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Mortgage Rates Slip to Near Lows for the Year

Mike Kane/Bloomberg via Getty Images WASHINGTON -- Average long-term U.S. mortgage rates declined this week, approaching their lows for the year. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan slipped to 4.12 percent from 4.14 percent last week. The average for a 15-year mortgage, a popular choice for people who are refinancing, fell to 3.24 percent from 3.27 percent last week. Mortgage rates are below the levels of a year ago. They have fallen in recent weeks after climbing last summer when the Federal Reserve began talking about reducing the monthly bond purchases it was making to keep long-term borrowing rates low. Mortgage rates often follow the yield on the 10-year Treasury note. The 10-year note traded at 2.42 percent Wednesday, brushing its low for the year of 2.41 percent and down from 2.47 percent a week earlier. It fell to 2.38 percent in trading Thursday morning. At 4.12 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Fed has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end in October.