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Wild Volatility Mellows into Upswing

Originally published: 12.01.14 by Margot Crabtree


Investors who survived the wild ride of October were rewarded with steady improvement in the first half of November.

As our trading session ended Nov. 14, 2014, the Dow industrials and the S&P 500 edged into new territory, with the S&P up 10 percent for the year.

The Commerce Department reported that September sales of new single-family homes increased 0.2 percent, to a seasonally adjusted annual rate of 467,000 units, the highest since July 2008. An unexpected move by the Bank of Japan (BoJ) to increase its stimulus program sent an impulsive market to new highs.

The University of Michigan's consumer sentiment index improved to a level not seen since July 2007 as it moved to 86.9, from 84.6. A report from the Labor Department said that employers in the U.S. created 214,000 jobs in October, pushing unemployment down to 5.8 percent, the lowest level since 2008.

Retail sales moved ahead 0.3 percent in October, and the Commerce Department cited a drop-off in gasoline prices as well as stronger job gains.

Homebuilders got a boost after D.R. Horton posted stronger quarterly revenue than expected, with orders up 38 percent, hinting at increased demand. High-end homebuilder Toll Brothers said revenue was up 29 percent in


the most recent quarter, and average prices rose.

"We're making new highs, volatility is low and that suggests investors are complacent enough to buy stocks at those highs," said John Kosar, director of research with Asbury Research in Chicago. "Interest rates are still low, oil prices are low and everything looks conducive to more strength between now and the end of the year."

Exchange
Symbol
Company Name
Price
7/15/14
Price
6/15/14
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 20.96 18.13 2.83 15.61% 23.09 16.78 54470 1141691.2
NYSE ABB ABB Ltd. 22.07 20.47 1.60 7.82% 27.25 19.92 2280000 50319600
NYSE ARG Airgas, Inc. 114.28 106.11 8.17 7.70% 115.14 99.32 74700 8536716
NYSE AOS AO Smith Corp. 53.17 46.24 6.93 14.99% 55.18 44.14 89540 4760841.8
NYSE FIX Comfort Systems USA, Inc. 14.90 13.74 1.16 8.44% 20.95 12.63 37640 560836
NYSE DOV Dover Corp. 80.21 72.06 8.15 11.31% 91.84 67.78 165360 13263525.6
NASD ELON Echelon Corp. 1.91 1.82 0.09 4.95% 4.18 1.77 43510 83104.1
NYSE DD E. I. DuPont de Nemours & Co. 70.80 66.43 4.37 6.58% 72.92 59.35 905950 64141260
NYSE EME EMCOR Group, Inc. 44.74 42.00 2.74 6.52% 48.00 37.48 64750 2896915
NYSE EMR Emerson Electric Co. 63.62 59.35 4.27 7.19% 70.66 57.76 699600 44508552
NYSE FCAU Fiat Chrysler 12.40 8.76 3.64 41.55% 12.50 7.20 1170000 14508000
NYSE F Ford Motor Co. 15.14 13.62 1.52 11.16% 18.12 13.26 3850000 58289000
NYSE GM General Motors Co. 31.65 29.69 1.96 6.60% 41.85 28.82 1610000 50956500
NYSE HON Honeywell International, Inc. 96.79 85.11 11.68 13.72% 98.09 82.89 782810 75768179.9
NASD HDSN Hudson Technologies, Inc. 3.79 3.02 0.77 25.50% 4.80 2.11 32030 121393.7
NYSE IR Ingersoll-Rand Plc 62.59 53.94 8.65 16.04% 64.77 52.47 265470 16615767.3
NYSE JCI Johnson Controls, Inc. 49.41 39.90 9.51 23.83% 52.50 38.60 665500 32882355
NYSE LII Lennox International Inc. 91.92 74.99 16.93 22.58% 94.69 72.61 48040 4415836.8
NYSE LXU LSB Industries, Inc. 32.98 34.73 -1.75 -5.04% 42.41 29.39 22610 745677.8
NYSE MTW Manitowoc Co., Inc. 20.72 17.33 3.39 19.56% 33.50 16.24 135520 2807974.4
NYSE NWL Newell Rubbermaid, Inc. 34.83 31.92 2.91 9.12% 35.43 28.27 271100 9442413
NYSE MLI Mueller Industries, Inc. 32.46 28.45 4.01 14.09% 32.96 27.10 56890 1846649.4
OTC NSANY Nissan Motor Co. Ltd. 18.58 17.75 0.83 4.68% 20.27 16.45 2100000 39018000
NASD OFLX OmegaFlex, Inc. 29.77 20.15 9.62 47.74% 30.48 15.93 10090 300379.3
NYSE PH Parker-Hannifin Corp. 128.44 102.96 25.48 24.75% 130.44 99.82 148640 19091321.6
NYSE RBC Regal-Beloit Corp. 71.12 63.66 7.46 11.72% 80.41 62.15 44690 3178352.8
NYSE ROK Rockwell Automation 110.12 100.78 9.34 9.27% 128.57 98.55 137870 15182244.4
OTC SIEGY Siemens Aktiengesellschaft  110.83 106.38 4.45 4.18% 139.28 103.20 838790 92963095.7
NYSE SPW SPX Corp.  91.93 84.26 7.67 9.10% 111.47 80.50 41070 3775565.1
NYSE TXN Texas Instruments 51.63 42.76 8.87 20.74% 51.80 40.33 1060000 54727800
NYSE UTX United Technologies Corp. 107.45 99.17 8.28 8.35% 120.66 97.30 911660 97957867
NYSE WSO Watsco, Inc. 101.50 89.41 12.09 13.52% 105.39 84.28 32300 3278450

 

The HVACR Business Stock Index leapt 115.38 points, or 10.14 percent, to end at 1253.12. Advancing issues almost shut out declining issues by a 31-to-1 count.

Parker-Hannifin jumped 25.48 points, or 24.75 percent, and was the top dollar gainer this month. PH reported fiscal 2015 first quarter income of $280.1 million, or $1.85 per share, a 15 percent increase from net income of $244.3 million, or $1.61 per share in the same quarter a year ago. Excluding one-time items, PH earned $1.89 per share. Revenue was off, at $3.27 billion. Analysts polled by Zacks expected earnings of $1.66 per share and revenue of $3.3 billion. PH closed at 128.44.

LSB Industries slipped 1.75 points, or 5.04 percent. LXU swung to a loss for its third quarter, and sales declined. LXU posted a net loss of $3.8 million, or $0.17 per share, versus net income of $10.3 million, or $0.43 per share. Sales came in at $171 million, compared to last year's $177.4 million. 

TheStreet Ratings cut LSB Industries to "hold" from "buy." LXU closed at 32.98, and was the top dollar and percentage loser.

Omega Flex rose 9.62 points, or 47.74 percent, and closed at 29.77. OFLX posted net income of $4 million, or $0.40 per share, a 19.3 percent improvement versus net income of $2.7 million, or $0.27 per share in the comparable year-ago quarter. 

Sales for the quarter increased 49 percent, to $23.8 million, compared to last year's $19.99 million. Omega Flex was the top percentage gainer.  


Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit  www.tradetrendsonline.com

 




About Margot Crabtree

Margot is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit tradetrendsonline.com.

 

 




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