The U.S. economy lost 190,000 jobs in October, higher than the 175,000 expected. Unemployment rate went up to 10.2%, the highest since 1983. This continued labor market weakness even in the face of an otherwise growing economy (the economy grew 3.5% in the third quarter) remains a major headwind at this stage of the economic cycle.  On the positive side, the number of jobs lost in October was the lowest since August 2008. Also, the previously reported August and September 2009 job loss numbers were revised upwards – a total of 91,000 fewer jobs were lost than originally reported.  The deceleration in job losses is clearly evident in the recent monthly payroll numbers, including this one, indicating that we may be nearing a turnaround in the labor market. My sense is that towards the end of the first quarter or the start of the second quarter of 2010, ...

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"

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For Immediate Release

Chicago, IL – November 6, 2009 – Zacks Equity Research highlights Acorda Therapeutics (ACOR) as the Bull of the Day and Canon (CAJ) the Bear of the Day. In addition, Zacks Equity Research provides analysis on Big Lots (BIG), Wal-Mart (WMT) and Nordstrom (JWN).

Full analysis of all these stocks is available at http://at.zacks.com/?id=5506

Here is a synopsis of all five stocks:

Bull of the Day:

Acorda Therapeutics (ACOR) is one of the more interesting biotechnology companies under our coverage. The company's key pipeline drug, Fampridine-SR, is currently under U.S. FDA review, with a decision expected in late January 2010.

Outside the U.S., Acorda has partnered with Biogen Idec under very favorable terms. Fampridine-SR has blockbuster potential worldwide in our view. Plus, the company is extremely well-capitalized with over $290 million in cash, and management has commercial experience

...

Easy comparisons and relatively favorable weather helped increase same-store sales in the typically weak month of October for retailers, up 1.8% from the year-earlier level but below the 2% growth expectation. Results for this series, which tracks data for stores open at least a year from 30 major retailers, had come ahead of expectations the last two months. As a result of the financial crisis last fall, conditions were extremely bad in October of last year, when retail sales were down 4.1%. October is typically a weak month for retailers, sandwiched as it is between the active shopping periods of back-to-school and the holiday season. The monthly sales numbers do not include data from Wal-Mart (WMT), which stopped giving monthly sales numbers earlier this year. Results were mixed among the major retail categories, particularly department stores and teen retailers. Sales at Macy’s (M) and ...

Initial claims for unemployment insurance fell by 20,000 this week to 512,000. Last week's numbers were revised slightly higher, so arguably the drop was 18,000, but that's still a nice improvement. The four-week moving average dropped by 3,000 to 523,750. Since new claims can be volatile from week to week, the four-week moving average is generally considered a better gauge of where we are. The graph below (from http://www.calculatedriskblog.com/) shows the history of that average. We are now 135,000 below the peak set back in April. This is a key piece of evidence that the recession is over. However, we remain above the highest levels seen in either of the last two recessions. The level indicates that we are still losing jobs, but at a slower rate than we had been. In the past we did not start to see actual increases in the number of ...

Dr Stock Pick HOT News & Alerts!

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Monday November 2, 2009

DrStockPick.com Stock Report!

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Consorteum Holdings Inc. (OTCBB: CSRH) announced that it has proceeded to launch its consumer stored value rebate card. The consumer rebate card program will offer manufacturers and retailers a new way to process mail-in rebates that ensures increased customer loyalty and decreased overhead costs. Consorteum will work directly with manufactures and retailers to reduce the administration costs associated with mail-in rebate programs while providing a new way to increase consumer awareness. Additional revenue and cost-saving opportunities will be

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Nordstrom, Inc. (JWN) has more than doubled the market's return over the past year. During the last 3 months, JWN saw even more bullish trading as shares nearly tripled the performance of the major averages. Analysts are also bullish, lifting the full-year Zacks Consensus Estimate from $1.57 per share to $1.65 over the past month.

Company Description

Nordstrom, a fashion specialty retailer, operates 179 stores located in 28 states. The company was founded in 1901 as a shoe store in Seattle. Today, Nordstrom runs 112 full-line stores, 64 Nordstrom Racks, 2 Jeffrey boutiques and 1 clearance store. In addition, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its catalogs.

Strong Momentum and Bullish Forecasts

The company has more than doubled the market's return over the past year. During the last 3 months, JWN saw even more bullish trading as shares nearly tripled the performance of the major averages.

Analysts

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• Nordstrom (NYSE:JWN) reported inline fiscal second quarter earnings of 48 cents a share as revenues fell 6.2% from a year earlier to $2.15 billion versus Zacks estimates of $2.14 billion.  The firm raised its full-year guidance to $1.50 to $1.65 a share from its previous guidance of $1.25 to $1.50 a share

• Abercrombie & Fitch (NYSE:ANF) reported a second-quarter loss of 30 cents a share, compared with Zacks estimates of a 6 cents loss on inline revenues off 23.3% to $648 million

• Blockbuster (NYSE:BBI) reported a second quarter loss of 19 cents, a 7 cents miss, on revenues of $1.02 billion off Zacks estimates of $1.11 billion.  The firm said it now expects 2009 EBITDA of $3.05 to $3.25 a share, compared with its prior view of $2.70 to $2.90 a share

• JCPenney (NYSE:JCP) beat estimates of a 1 cent loss, posting breakeven results on inline revenues of $3.94

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U.S. stocks paused for a breather Monday, after a month-long rally saw indexes scaling multi-month highs.  After last week’s big gains, investors appeared cautious and refrained from making new bets.  In the absence of any major economic and corporate developments, stocks drifted lower even as investors turned their attention towards Fed for indications on how the economic picture is shaping up.  Concerns over the oncoming auction of government treasuries also played in the minds of investors.

The Dow Jones industrial average retreated 32 points, or 0.3%. The S&P 500 index fell 3 points, or 0.3%. The Nasdaq dipped 8 points, or 0.4%. On the New York Stock Exchange, 1.09 billion shares exchanged hands and losers were ahead of winners by a narrow margin.

The two-day Fed meet that begins today is expected to keep interest rates near close to zero.  However, Bernanke and Co’s assessment of how the economy

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Companies featured in this edition of the newsletter: CBAI, ICLK, ITUI, IWEB, MBCI, OMCM, SIHI, SRCO

Markets continued their torrid pace this week on the strength of encouraging reports from two of the most beleaguered economic sectors, which led to gains in all of the major indices following the week’s activities. All told, the Dow ended the week up 2.2%, gaining 198 to close at 9370, bringing its YTD gains to 6.8%. The Nasdaq gained 1.1% on the week, bringing its yearly gains to 26.8% while the S&P 500 and Russell 2000 posted gains of 2.3% and 2.28 % respectively, bringing their yearly gains to 11.9% and 14.6%.

Economic news stole the spotlight this week as earnings season wound down, leaving investors with a more definitive picture of the overall state of recovery than in many weeks prior. The good news started early in the week, as the ISM

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