Ultimate Market Recap: IMF Rumors, Salesforce Dumps 10%

Friday Morning’s Top Stories

European Central Bank President Mario Draghi wants European leaders to speed things up and implement changes more quickly to the eur0-zone’s bailout fund, the European Financial Stability Facility (EFSF). In remarks at a banking forum, Draghi said leaders agreed more than 18 months ago to  launch the EFSF and during this time, leaders have agreed to boost its lending capacity (July) and leverage its firepower (October) to approximately EUR 1 trillion ($1.35 billion) .

However, Draghi asked the question, ”Where is the implementation of these long-standing decisions?”

Don’t Miss: Economic Growth Setting Record Pace for the Year.

Germany (NYSEARCA:EWG) is preparing for the bankruptcies of eurozone countries that are too big to be bailed out, according to a leaked document from Germany’s foreign office. The country’s plan includes the creation of a new European body that would take over the troubled countries, place them into receivership and then run their economies.

Toyota Motor Corp. (NYSE:TM) announced its domestic plants will operate at near normal levels through the next two weeks, beginning Nov. 21, as the disruptions from the Thai floods starts to decrease.  Production in this area will also restart on Nov.21 with normal production at its North American plants during the next two weeks.

Toyota will continue adjusted production hours at its Asia nations and South Africa plants beginning the week of Nov. 21.

Investing Insights: Congress Loves These 50 Stocks.

Private equity firm Silver Lake is interested in purchasing Yahoo! Inc. (NASDAQ:YHOO) and has held discussions with Microsoft Corporation (NASDAQ:MSFT), Canada Pension Plan Investment Board and other possible partners. Silver Lake is part of a minority of interested parties has signed a non-disclosure agreement, which is slowing down the company’s sale process.

Friday Morning Hot Stocks

NYSE Euronext, Inc. (NYSE:NYX): In an effort to gain EU antitrust approval for their mega $9B merger, Deutsche Boerse (DBOEY.PK) and NYSE Euronext submit proposals to sell European equity-option operations, and to provide competitors with access to a major derivatives clearinghouse. A decision on the proposal is due at the end of the year.  NYX shares recently traded at $27.42. Its market capitalization is $6.96 billion. They have traded in a 52-week range of $21.80 to $41.60. Volume today was 70,396 shares versus a 3-month average volume of 3,630,780 shares. The company’s trailing P/E is 10.89, while trailing earnings are $2.44 per share.

Investing Insights: Congress Loves These 50 Stocks.

Yahoo! Inc. (NASDAQ:YHOO): Private-equity firm Silver Lake has held discussions with Microsoft (NASDAQ:MSFT), Canada Pension Plan Investment Board, and other potential business partners about buying Yahoo, the WSJ reports. Silver Lake is one of a few Yahoo suitors to sign an NDA, a requirement that has slowed the sale process. YHOO shares recently traded at $15.47,. Its market capitalization is $19.03 billion. They have traded in a 52-week range of $11.09 to $18.84. Volume today was 107,323 shares versus a 3-month average volume of 33,180,600 shares. The company’s trailing P/E is 18.78, while trailing earnings are $0.82 per share.

Heinz (NYSE:HNZ): Shares fell nearly 3% before the opening bell after posting worse than expected second quarter results.  The company also expects to shut down three factories due to economic conditions.  On the positive, the firm reaffirmed fiscal year 2012 EPS in the range of $3.24-$3.32.  HNZ shares recently traded at $51.56. Its market capitalization is $16.96 billion. They have traded in a 52-week range of $46.99 to $55.00. Volume today was 8,459 shares versus a 3-month average volume of 2,620,810 shares. The company’s trailing P/E is 17.55, while trailing earnings are $3.01 per share.

Don’t Miss: H. J. Heinz Earnings Cheat Sheet: Increasing Costs Tighten Margins as Net Income Falls.

Seagate Technology (NASDAQ:STX): Downgrades Q4 shipment goals for hard disk drives to 41M-45M units, due to the flooding in Thailand, DigiTimes reports. Seagate had previously guided to 40M-50M units during its October earnings call. The company forecasts global supply of 110M-120M HDDs in Q4, short of global demand at 180M units. STX shares recently traded at $16.40. Its market capitalization is $7.04 billion. They have traded in a 52-week range of $9.05 to $18.60. Volume today was 300 shares versus a 3-month average volume of 10,204,000 shares. The company’s trailing P/E is 15.31, while trailing earnings are $1.10 per share.

Intuit Inc. (NASDAQ:INTU): Shares are up almost 1% after reporting revenue of $594M (+12% Y/Y) and EPS of -$0.10 for its seasonally weak FQ1.  The results beat the consensus by $13.3M and $0.02. The tax software company expects FY12 revenue for $4.185B-$4.285B and EPS of $2.85-$2.94, in-line with a consensus of $4.23B and $2.90.  INTU shares recently traded at $51.98. Its market capitalization is $15.57 billion. They have traded in a 52-week range of $39.87 to $56.46. Volume today was 0 shares versus a 3-month average volume of 3,311,290 shares. The company’s trailing P/E is 25.88, while trailing earnings are $2.00 per share.

Investing Insights: Intuit Inc. Earnings Cheat Sheet: Loss Narrows and Beats Estimates.

Friday’s Trending Stocks

As the Dow Jones Industrial Average (NYSEARCA:DIA) rebounds 50 points higher and the S&P 500 Index (NYSEARCA:SPY) climbs a few points, here are the most buzzworthy stocks on Wall Street in Friday trading:

  1. H.J. Heinz Company (NYSE:HNZ): Shares of H.J. Heinz Company are trading lower 3% today. H.J. Heinz Company manufactures and markets processed food products throughout the world. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other processed food products.
  2. Blue Coat Systems, Inc. (NASDAQ:BCSI): Shares of Blue Coat Systems, Inc. are trading higher 8.5% today. Blue Coat Systems, Inc. provides Web security solutions that increase the protection and control of enterprise Web infrastructures. The Company’s Web security appliances are dedicated port 80 security solutions built to protect corporate networks against Web-based viruses, unfiltered Web communication, and inappropriate Web content. Blue Coat serves a wide range of industries.
  3. Hibbett Sports, Inc. (NASDAQ:HIBB): Shares of Hibbett Sports, Inc. are trading higher 2% today. Hibbett Sports Inc. operates a chain of sporting goods stores in the southeastern United States. The stores sell athletic footwear, apparel, and equipment.
  4. Poniard Pharmaceuticals, Inc. (NASDAQ:PARD): Shares of Poniard Pharmaceuticals, Inc. are trading higher 109% today. Poniard Pharmaceuticals, Inc. develops drugs used to treat cancer.
  5. Ann Inc (NYSE:ANN): Shares of Ann Inc are trading lower 4% today. AnnTaylor Stores Corporation, through its wholly owned subsidiary, retails women’s apparel, shoes, and accessories primarily under the Ann Taylor brand name. The Company operates throughout the United States.
  6. Aruba Networks, Inc. (NASDAQ:ARUN): Shares of Aruba Networks, Inc. are trading higher 5% today. Aruba Networks Inc. provides enterprise mobility solutions that enables secure access to data, voice and video applications across wireless and wireline enterprise networks.
  7. salesforce.com, inc. (NYSE:CRM): Shares of salesforce.com, inc. are trading lower 8% today. Salesforce.com, Inc. provides software on demand. The Company supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use Salesforce.com to manage their customer, sales and operational data.
  8. Sirona Dental Systems, Inc. (NASDAQ:SIRO): Shares of Sirona Dental Systems, Inc. are trading lower 4% today. Sirona Dental Systems, Inc. develops, manufactures, and markets a complete line of dental equipment. The Company’s products include CAD/CAM restoration equipment (CEREC), digital and film-based intra-oral, panoramic and cephalometric X-ray imaging systems, dental treatment centers and handpieces.
  9. Piedmont Natural Gas Company Inc. (NYSE:PNY): Shares of Piedmont Natural Gas Company Inc. are trading higher 1% today. Piedmont Natural Gas Company, Inc. is an energy and services company that primarily transports, distributes, and sells natural gas. The Company serves residential, commercial, and industrial customers in North Carolina, South Carolina, and Tennessee. Piedmont also, through subsidiaries, markets natural gas to customers in Georgia, and distributes propane in various states.
  10. Bank of America Corporation (NYSE:BAC): Shares of Bank of America Corporation are trading flat today. Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)

Market Recap

Markets closed mixed on Wall Street today: Dow +0.22%, S&P -0.04%, Nasdaq -0.60%, Oil -1.20%, Gold +0.16%.

On the commodities front, Oil (NYSE:USO) fell to $97.74 a barrel. Precious metals were up, with Gold (NYSE:GLD) climbing to $1,730.00 an ounce while Silver (NYSE:SLV) climbed 2.44% to settle at $32.34.

Hot Feature: Will the Budget Supercommittee Reach a Deal by Deadline?

Today’s markets were mixed because:

1) U.S. economy. The Conference Board’s index of leading indicators in the U.S. surprised to the upside Friday. The latest reading rose 0.9% in October, better than the 0.6% rise economists expected, a sign that the American economy may pick up in the coming months.

2) EU. Borrowing costs in Italy and Spain eased after record high levels in recent days pressured the broader market, a signal that bond investors are less fearful of a default by those countries. However, leaders of Germany and the U.K. were unable reconcile their differences on plans for European treaty changes and a financial transaction tax at a meeting in Berlin today after European Central Bank chief Mario Draghi had criticized euro-zone leaders earlier in the day for failing to follow through with plans to resolve the debt crisis.

3) Companies. Companies that rely most heavily on economic expansion to make money were the best-performing stocks today. Hewlett-Packard (NYSE:HPQ) popped 2.57%, more than any of the Dow’s other 29 components. Boeing Co. (NYSE:BA) rose 2.07%. However, after a couple of disappointing earnings reports, ketchup-maker H.J. Heinz Co. (NYSE:HNZ) and retailer Gap Inc. (NYSE:GPS) both slid deep into negative territory.

BONUS: ECB May Fund Bailouts Through Loans to IMF

After Hours Radar Stocks

Shares of Micron Technology Inc (NASDAQ:MU) continue to slide 1.2% in late trading.  However, shares have outperformed the broader technology sector by rising nearly 16% this week.

After closing down 10%, shares of Salesforce.com Inc(NYSE:CRM) are edging .80% higher in extended trading.  On Thursday, the company reported a loss of $3.8 million for the third quarter.  Competitors include: Oracle Corp (NASDAQ:ORCL) and SAP AG (NYSE:SAP).

Don’t Miss: Salesforce Shares Return from the Clouds.

Marvell Technology Group (NASDAQ:MRVL) is down .34% after the closing bell.  Late Thursday, the company reported third quarter results.  Net income fell to $195.1 million (32 cents per share), compared to $255.7 million (38 cents per share) a year earlier. This is a decline of 23.7% from the year earlier quarter.

Shares of chip maker Nvidia (NASDAQ:NVDA) are in the red after its chief executive said one of the biggest problems for tablet makers in the US is figuring out how to best sell the gadgets.  “Apple (NASDAQ:AAPL) stores have an advantage over anything sold through Best Buy (NYSE:BBY),” Jen-Hsun Huang said. “Everything sold through Best Buy has to pay Best Buy a margin.”

United Parcel Service Inc. (NYSE:UPS) is attracting attention in late trading.  The company plans to raise its rates next year 4.9% on its ground package shipping and air shipping.  UPS spokesman Norman Black said the increases weren’t driven by any one factor, “though clearly fuel is always part of the mix.” He said the increases reflected a combination of cost and demand for services.

Trending Now: Gold Demand Increases As Central Bank Purchases Jump 556%.

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