U.S. stocks rose Friday, for their second consecutive weekly advance, as upbeat earnings reports from a number of companies, including Walt Disney and JC Penny, spurred optimism that the economic recovery is gaining momentum.  A dip in the value of dollar, on concerns consumer spending is likely to remain bleak, sent shares of commodity-related companies up. 

On Friday, the 30-stock Dow Jones industrial average rose 73 points, or 0.72%, to 10,270.47. The broad Standard & Poor's 500-stock index was up 6.24 points, or 0.57%, at 1,093.48. The tech-heavy Nasdaq composite index advanced 18.86 points, or 0.88%, to 2,167.88.  For the week the Standard & Poor’s 500 Index jumped 2.3% to 1,093.48.  The Dow average rose 247.05 points, or 2.5%, to 10,270.47, following its 3.2% advance the prior week.

The spike in commodities came after the greenback fell Friday on news that the trade deficit widened more than expected in

A drop in the number of newly laid-off workers and upbeat remarks from bellwether Cisco Systems injected confidence about an economic recovery ahead of this morning’s highly expected October jobs report, propelling the Dow average to its first close above 10,000 in two weeks. 

Cisco Systems’ (NASDAQ:CSCO) CEO John Chambers said he now sees a global economic recovery, fueling a rebound in the company’s sales this quarter.  The Dow average jumped 203 points, or 2%, while the tech-heavy NASDAQ, riding high on Cisco’s forecast, bolted up 50 points or about 2.4%. 

All ten S&P 500 industry groups ended in the green, with banking shares advancing 2.6% as analyst Dick Bove of Rochdale Securities noted the group will double by the end of 2010.  Technology shares advanced 2.2%.  Qualcomm Inc. (NASDAQ:QCOM) jumped 5.4% to $43.85 and Microchip Technology Inc. (NASDAQ:MCHP) gained 3.9% to $25.37 after it was raised to “buy"

Stocks broke a four-day losing streak, helped by better-than-projected August sales from retailers but the advance was lukewarm as investors chose to play it safe ahead of today’s non-farm payrolls report.  After touching their 2009 highs, stocks have drifted lower this week on concerns that a major correction is in the offing.  Sentiments are also shaky as September has historically been a rough month for stocks.  

Yesterday, the 30-stock Dow Jones industrial average finished higher by 63.94 points, or 0.69%, at 9,344.61.  The broad Standard & Poor's 500-stock index rose 8.49 points, or 0.85%, at 1,003.24, closing above 1,000 for the first time since Monday; the technology-laden Nasdaq composite index gained 16.13 points, or 0.82%, to 1,983.20.  Twenty two of the thirty DJIA components advanced.

Although stocks traded in a tight range yesterday, the final hour of trading witnessed activity as traders picked up technology and financial stocks.  Better-than-expected

• Gap (NYSE:GPS) reported after the close second quarter earnings of 33 cents a share, one cent above expectations, as revenues dropped 7.3% from a year ago to $3.25 billion, versus estimates of $3.23 billion. The firm also said inventory per square foot measure fell 14% by quarter's end

• Boeing (NYSE:BA) shares responded to a report its Dreamliner 787 initial flight may occur in late to early November

• JM Smucker (NYSE:SJM) reported second quarter earnings of 92 cents a share ex-items, 12 cents better than expected, on revenues of $1.051 billion versus estimates of $1.04 billion. The company expects fiscal 2010 sales of about $4.5 billion versus consensus estimates of $4.55 billion, and earnings per share ex-items of $3.65 to $3.80 a share

A sharp rebound in Chinese shares helped erase yesterday’s slump and sent Asian stocks sharply higher Thursday, a day after Shanghai’s big fall ignited fears of a Chinese stock collapse and triggered a selling spree around the world.  Asian markets also drew comfort from an overnight recovery on Wall Street after a surprise drop in U.S. crude stockpiles lifted hopes for an economic recovery and sent investors back on the buying table.

Shanghai's main index jumped 126 points, or 4.5%, to 2,911.58, while Japan's Nikkei 225 stock average climbed 179.41 points, or 1.8%, to 10,383.41.  Hong Kong's Hang Seng rose 374.63, or 2%, to 20,336.36.  South Korea’s Kospi advanced 2% to 1,576.39.

Stock futures pointed to a higher open on Wall Street Thursday.  Dow Jones industrial average futures rose 24, or 0.3%, to 9,300. Standard & Poor's 500 index futures edged up 3.70, or 0.4%, to 1,000.80, while Nasdaq

Companies featured in this edition of the newsletter: ACTC, CVM, CUR, DKAM, FMTI, ICLK, IMUC, IWEB, OMCM, ONEZ, SIHI, TAGS

Markets took pause from their four week run this week, as some less than encouraging economic reports coupled with profit taking led to slight declines in all of the major indices. All told, the Dow ended the week down 0.5%, surrendering 48 points to close at 9321, bringing its YTD gains to 6.2%. The Nasdaq was off 0.7%, closing at 1985, up a healthy 25.9% on the year, while the S&P 500 and Russell 2000 were down 0.6% and 1.5% respectively, paring their yearly gains to 11.2% and 12.9%.

Disappointing economic data relating to inventories and consumer sentiment soured the mood for much of the week, as worse than expected declines in retail sales, consumer sentiment, and business and wholesale inventories gave investors cause for concern. Retail sales

PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

Tuesday August 4, 2009

PennyOmega.com Stock Report!

**************************************************************

Vicor Corporation (NASDAQ: VICR) today reported its financial results for the second quarter and six months ended June 30, 2009. Revenues for the second quarter increased to $50,627,000, compared to $49,297,000 for the corresponding period a year ago and $50,448,000 for the first quarter of 2009. Gross margin increased to $22,598,000 for the second quarter of 2009, compared to $21,113,000 for the corresponding period a year ago and $21,831,000 for the first quarter of 2009. Gross margin, as a percentage of revenue, increased to 44.6% for the second quarter of 2009 compared to 42.8% for the second quarter of 2008, and

* BankUnited Financial Corporation (NASDAQ:BKUNA) became the largest US bank failure of the year, sold to private investors led by Wilbur Ross

* A Washington Post article said the administration if preparing to send General Motors (NYSE:GM) into bankruptcy as soon as next week: however, Treasury officials advised the June 1 deadline will remain

* AIG (NYSE:AIG) CEO Liddy announced plans to leave the company as soon as a replacement is found

* Citigroup (NYSE:C) announced likely savings of over $1 billion from technology savings this year

* Johnson & Johnson (NYSE:JNJ) announced plans to purchase Cougar Biotech (NASDAQ:CGRB) for $1 billion, or $43 per share

* Sears Holding (NASDAQ:SHLD) reported earnings of 38 cents per share, ex-items, versus last year's 43 cent per share loss, and up from Street estimates of an 88 cent loss

* Gap (NYSE:GPS) announced first quarter earnings of 31 cents per share, one cent above Street estimates, versus 34 cents