Stocks Fall On Greek Debt Worries, Log Weekly Loss


Uncertainly over Greece’s debt deal hurt stocks Friday. S&P’s downgrade of Italian banks and weak economic data didn’t help either.

The Nasdaq lost 0.8%, while the Dow Jones industrial average and the S&P 500 fell 0.7% each. Twenty-nine of 30 Dow stocks lost ground. Only Home Depot (HD) rose. The major averages suffered their biggest one-day losses of the year. Volume fell across the board, which alleviated the impact of the selling.

The market snapped a five-week win streak. The Dow fell 0.5%. But the broader S&P 500 and Nasdaq barely budged. They eased 0.2% and 0.1%, respectively.

True Religion Apparel (TRLG) gapped below its 50-day and 200-day moving averages and plunged 28% in monster trade. Late Thursday, maker of high-end jeans reported Q4 earnings and sales that missed views. The company guidance was also disappointing. Brean Murray, Caris & Co. and Benchmark all downgraded the stock Friday.

Nuance Communications (NUAN) gapped down and tumbled 13% in huge volume following late Thursday’s disappointing quarterly results. The stock closed below its 50-day line, but held above its recent 25.92 buy point. Nuance was up as much as 20% after breaking out Jan. 3

InvenSense (INVN) reversed lower and lost nearly 2% in more than twice its average volume. Despite this, the stock is still more than 50% past an 11.95 buy point from an IPO base cleared Jan. 9.

Alexion Pharmaceuticals (ALXN) rose 4% to a new high, thanks to an upgrade. Robert W. Baird raised shares to outperform from neutral. Alexion closed 18% past a 70.52 buy point from a flat base. Earlier this week, the company delivered strong Q4 results and said it expects sales of its bread and butter Soliris to surge at least 80% this year.

Iconix Brand Group (ICON) and Vitamin Shoppe (VSI) are a couple of notable companies reporting earnings Monday.


Stocks End Modestly Higher


Stocks seesawed to a modestly higher finish Wednesday. Trading was choppy as investors wait for new reform measures from debt-ridden Greece.

Visa (V) and Whole Foods Market (WFM) were higher after hours as both reported quarterly results above views. Networking giant Cisco Systems (CSCO) was also up in extended trading after it, too, topped expectations.

The Nasdaq climbed 0.4% and the S&P 500 gained 0.2%. Meanwhile, the Dow Jones industrial average ended fractionally higher. Turnover climbed across the board. Despite little movement in the major averages, some leaders had big moves.

On the heels of late Tuesday’s better-than-expected earnings report, Buffalo Wild Wings (BWLD) gapped up and rocketed 17% to an all-time high. Volume swelled to more than 10 times average. Even in the face of volatile chicken prices, Buffalo Wild Wings’ earnings and sales surged 33% and 34%, respectively. Those were the biggest gains in many quarters.

Ralph Lauren (RL) gapped up and surged 9% to an all-time high. It gapped above a 164.65 buy point from a cup base in almost five times average trade. Before the open, the apparel firm beat expectations with a 3% rise in fiscal Q3 profit and a 17% gain in sales. Ralph Lauren also raised its full-year revenue outlook. Shares were up 14% at their session highs.

InvenSense (INVN) rose 3% in fast trade and bounced back from Tuesday’s downside reversal. The stock also finished at a new closing high. InvenSense is well-extended after clearing an IPO base Jan. 9.

On the downside, Panera Bread (PNRA) tumbled 5% after reporting disappointing quarterly sales late Tuesday. The stock closed 4% past a 145.56 buy point from a flat base. It had been up as much as 11% after breaking out Jan. 13.

Alexion Pharmaceuticals (ALXN) ended off its session low, but still down 3% in its busiest session in almost four months. The company reports earnings Thursday. Wall Street sees profit rising 31% to 34 cents a share. Alexion closed 9% past a 70.52 flat-base buy point cleared Dec. 27.

Expedia (EXPE), Nuance Communications (NUAN) and True Religion Apparel (TRLG) are among some other notable companies reporting earnings Thursday. Initial jobless claims and wholesale inventories will also be out Thursday.

Stocks Gain in Higher Trade


Stocks reversed modest losses and scored small gains Tuesday on reports of progress over Greece’s bailout.

After the close, Buffalo Wild Wings (BWLD) surged after the company delivered Q4 earnings and sales that topped expectations. But Panera Bread (PNRA) was little changed after reporting mixed results. Profit met views, but revenue missed.

The S&P 500 and Nasdaq rose 0.2% and 0.1%, respectively. The Dow Jones industrial average outshined with a 0.3% gain. Turnover climbed on both major exchanges.

SolarWinds (SWI) bolted 9% to a record high, thanks to better-than-expected Q4 results. The software maker’s earnings rose 21% to 29 cents a share. That marked its slowest growth in four quarters, but still beat views by 4 cents. Sales, which also topped views, surged 34% to $55.6 million. The company’s Q1 earnings guidance was in line with expectations, while its revenue guidance topped analysts’ forecasts. SolarWinds closed 8% past a 33.78 buy point from a cup base.

Tractor Supply (TSCO) rallied 4% to a new high in nearly triple its average volume. It cleared an 82.60 buy point in a four-weeks-tight pattern. Prior to Tuesday’s pop, the stock had been trading sideways since gapping out of a flat base Jan. 12.

On the downside, Sally Beauty (SBH) gapped down and dropped 5% in its busiest session in four months. The retailer announced a secondary offering of 20 million shares. The offering is from a shareholder and not the company. Intraday, the stock fell as much as 5% below a 21.95 buy point from a cup base.

Despite reporting upbeat Q4 results, Allot Communications (ALLT) reversed lower and tumbled 5% in almost triple its average volume. Before Tuesday’s open, the Israeli network optimization firm beat views with a 100% surge in earnings, the fifth straight quarter of triple-digit growth. Sales, which also topped expectations, rose 36%. Tuesday’s reversal erased all of Monday’s work.

BJ’s Restaurants (BJRI), Cisco Systems (CSCO), Copa Holdings (CPA), O’Reilly Automotive (ORLY), Ralph Lauren (RL), Visa (V) and Whole Foods Market (WFM) are some notable companies reporting earnings Wednesday.