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Stocks Waffle, Earnings Season Begins

Originally published: 05.01.15 by Margot Crabtree


News was mixed, but the trend was positive as our trading session ended April 15, 2015. The main drivers were an uptick in oil prices, and indication from the Federal Reserve that any rate hikes in the offing will come later in the year.

The National Association of Home Builders/Wells Fargo builder sentiment index fell to 52, the third straight monthly decline, but that shifted as our session came to an end: the index increased to 56 in March.

The Commerce Department said that new home sales rocketed up 7.8 percent in February to the strongest showing since February 2008. The University of Michigan sentiment index slid to 93 in March, from 95.4 in February, in large part because of rising gas and home heating prices. Consumer spending increased in February after three declining months.

The Labor Department released its much-anticipated March jobs growth report, which showed weakness in hiring, with the smallest gain since December 2013, especially prominent in the products-producing arena. That led investors to conclude that the Federal Reserve will delay interest rate raises until September, instead of June as earlier expected.

Alcoa launched the first quarter earnings season, with market-watchers wary about worldwide economic pressures' influence on


corporate results, especially the strong dollar. Thomson Reuters data estimates that earnings for S&P 500 companies will decrease by 2.9 percent from a year ago. If the projections hold true, that will mark the first time since 2009 that earnings have shrunk.

"Companies can jump over a bar that's about as low as a limbo stick," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Beating expectations should be relatively easy."

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. 24.56 22.15 2.41 10.88% 24.84 16.78 54060 1327713.6
NYSE ABB ABB Ltd. 22.08 20.16 1.92 9.52% 26.35 19.14 2260000 49900800
NYSE ARG Airgas, Inc. 105.48 114.84 -9.36 -8.15% 119.00 101.36 75120 7923657.6
NYSE AOS AO Smith Corp. 65.71 62.04 3.67 5.92% 66.13 44.60 89360 5871845.6
NYSE FIX Comfort Systems USA, Inc. 21.17 19.42 1.75 9.01% 21.44 12.63 37110 785618.7
NYSE DOV Dover Corp. 73.99 71.25 2.74 3.85% 91.84 67.13 163040 12063329.6
NASD ELON Echelon Corp. 0.93 1.08 -0.15 -13.89% 2.96 0.89 43990 40910.7
NYSE DD E. I. DuPont de Nemours & Co. 72.10 80.50 -8.40 -10.43% 80.65 63.70 905410 65280061
NYSE EME EMCOR Group, Inc. 47.53 44.63 2.90 6.50% 48.00 38.68 62980 2993439.4
NYSE EMR Emerson Electric Co. 59.16 55.26 3.90 7.06% 69.94 54.95 685200 40536432
NYSE FCAU Fiat Chrysler 16.49 16.41 0.08 0.49% 17.08 8.54 1280000 21107200
NYSE F Ford Motor Co. 16.07 16.20 -0.13 -0.80% 18.12 13.26 3960000 63637200
NYSE GM General Motors Co. 36.94 38.05 -1.11 -2.92% 38.99 28.82 1610000 59473400
NYSE HON Honeywell International, Inc. 103.79 101.17 2.62 2.59% 106.15 82.89 782660 81232281.4
NASD HDSN Hudson Technologies, Inc. 3.93 4.20 -0.27 -6.43% 4.80 2.55 32320 127017.6
NYSE IR Ingersoll-Rand Plc 69.19 67.22 1.97 2.93% 69.42 52.47 263320 18219110.8
NYSE JCI Johnson Controls, Inc. 50.00 48.82 1.18 2.42% 52.00 38.60 657290 32864500
NYSE LII Lennox International Inc. 113.58 107.86 5.72 5.30% 114.08 72.91 44680 5074754.4
NYSE LXU LSB Industries, Inc. 41.81 39.68 2.13 5.37% 42.91 28.91 22660 947414.6
NYSE MTW Manitowoc Co., Inc. 22.45 21.41 1.04 4.86% 33.50 16.24 135620 3044669
NYSE NWL Newell Rubbermaid, Inc. 39.63 38.60 1.03 2.67% 40.73 28.27 268500 10640655
NYSE MLI Mueller Industries, Inc. 36.93 34.84 2.09 6.00% 37.18 27.10 56920 2102055.6
NASD NTK Nortek, Inc. 89.16 84.40 4.76 5.64% 92.30 70.73 16260 1449741.6
OTC NSANY Nissan Motor Co. Ltd. 20.90 21.33 -0.43 -2.02% 21.46 16.65 2100000 43890000
NASD OFLX OmegaFlex, Inc. 26.67 29.51 -2.84 -9.62% 39.46 15.93 10090 269100.3
NYSE PH Parker-Hannifin Corp. 123.50 117.72 5.78 4.91% 133.41 99.82 142460 17593810
NYSE RBC Regal-Beloit Corp. 77.44 76.65 0.79 1.03% 80.77 62.15 44710 3462342.4
NYSE ROK Rockwell Automation 114.14 111.52 2.62 2.35% 128.57 98.55 135440 15459121.6
OTC SIEGY Siemens Aktiengesellschaft  110.14 108.66 1.48 1.36% 136.90 103.20 881000 97033340
NYSE SPW SPX Corp.  85.82 83.58 2.24 2.68% 111.47 77.30 40980 3516903.6
NYSE TXN Texas Instruments 58.50 57.12 1.38 2.42% 59.99 41.47 1050000 61425000
NYSE UTX United Technologies Corp. 117.87 118.74 -0.87 -0.73% 124.45 97.30 907160 106926949.2
NYSE WSO Watsco, Inc. 124.67 120.39 4.28 3.56% 131.10 84.28 32360 4034321.2

 

The HVACR Business Stock Index inched forward, hampered by sharp declines in share prices by DuPont and Airgas. The index rose 6.96 points, or 0.52 percent, and closed at 1336.20. Advancing issues easily outpaced declining issues by a 24-to-9 count.

Parker-Hannifin jumped 5.78 points, or 4.91 percent. Zacks Investment Research rated PH as "hold." The consensus price target on the stock is $130.10 per share. PH will report earnings on April 28, 2105, after production deadline. PH closed at 123.50, and was the top dollar gainer.

Airgas tumbled 9.36 points, or 8.15 percent, after the company lowered its fiscal fourth quarter profit forecast. ARG now expects to earn between $1.13 and $1.16 per share, down from an earlier $1.25 to $1.30 per share. Airgas also cut its organic revenue growth, now projected to increase by 1 to 2 percent, from an earlier 6 to 7 percent. Investment firm Global Hunter cut its rating on Airgas to "accumulate" from "buy." ARG closed at 105.48, and was the top dollar loser.

AAON reached new 52-week highs, and as our session ended, topped out at a high of 24.84. The consensus target price for the company is $25. The company expects to post earnings during the first week in May. AAON increased 2.41 points, or 10.88 percent, and was the top percentage gainer. AAON closed at 24.56.


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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