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http://ymlp221.net/zzfMAr ——————————————————————————– February 3, 2013 Week & Month In Review…
Week & Month In Review For January 28, 2013 to February 1, 2013 Canadian Technical Penny Stocks To Watch This Week:
* 5N Plus Inc. (TSX:VNP) * Madalena Ventures Inc. (TSX-Venture:MVN) U.S. Technical Penny Stocks To Watch This Week:
* Terra Tech Corp. (OTCBB:TRTC) This week on AllPennyStocks.com:
* Article Published, January 28, 2013: Sparton Resources Sells Subsidiary as Result of Chinese Policy to Consolidate Coal Miners (http://www.allpennystocks.com/aps_ca/special-reports/325/sparton-resources-sells-subsidiary-as-result-of-chinese-policy-to-consolidate-coal-miners.htm) (CDN Company) * Article Published, January 30, 2013: Intermap Technologies Challenging 52 Week Highs as Earnings Report Approaches (http://www.allpennystocks.com/aps_ca/special-reports/326/intermap-technologies-challenging-52-week-highs-as-earnings-report-approaches.htm) (U.S. / CDN Company) Video charts for the week:
* January 30th Technical Video Chart For DVAX. The Dynavax Technologies chart made a move on Tuesday to climb off a support level at $3 dollars. The indicators are hinting that the chart is gaining strength in both momentum and trend, which could be signaling a run to try and fill a gap still open near $4. view:
( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/yfxSHQXEUto ).
* January 30th Technical Video Chart For RMC:CA. The Reservoir Minerals chart should be on radar to continue a small move on Tuesday off support at $2.20. The chart is facing resistance at around $2.50, but could see a nice climb if that resistance falls.
view: ( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/zLZpTObruzk ).
Featured Link: BullishInvestor.com ( http://www.bullishinvestor.com ) – Offering Free U.S. and Canadian technical analysis charts, buy/sell ratings and stock screening tools for over 15,000 stocks utilizing technical analysis techniques such as candlestick charting, technical analysis indicators as well as volume and trend analysis.
WEEKLY UPDATE -US STOCKS ROAR INTO FEBRUARY, NORTH AMERICAN INDICES RISE IN JANUARY Solid earnings and a blizzard of economic data (see below) capped the month of January and sent US stocks soaring to multi-year highs as the bulls simply could not be held down. The Dow Jones Industrial Average and the S&P 500 were monster performers, notching their best January this century. For the Dow, its 5.77 percent gains were the most in a January since 1994. With a 5.04 percent rise from December, the S&P 500 posted its best start to a year since 1997. With the push this past week the Dow now sits only 188.31 points from all-time highs in October 2007 and the S&P 500 is only off its highs of 1,576.09 (from October 2007) by 62.92 points.
The economic plate was full this past week with generally upbeat data delivered continuing to show the US economy is healing from the “Great Recession” a few years ago. When there was less-than-expected information, such as the unemployment rate rising in the States during January, the dismal news was dismissed and the positive portions of the reports extrapolated as a catalyst to continue to rise on Wall Street.
The Canadian markets didn`t keep pace with their US peers with the benchmark TSX Composite slipping into the red for the week after heavy down days on Wednesday and Thursday after reports that gross domestic product in America, far and away Canada`s largest trade partner, contracted in the October to December quarter. It was the TSX`s first weekly decline in five weeks. The smaller Venture exchange broke out of its funk to post a very mild gain after two straight down weeks.
Whereas the US markets got the latest key reading of unemployment, Canadians will get theirs next week. Economists aren`t expecting much, calling for a flat month in January for jobs creation and the unemployment rate to tick upward to 7.2 percent from a 7.1 percent mark in December.
As has become the strange case in the U.S., investors cheered for positive economic data and also cheered negative data to a degree.
Why Because any information that shows the economy is still limping from the global financial fallout in 2008 – 2009 means that the Federal Reserve will continue its open-ended, $85-billion-dollar per month bond and treasury buying package to help fight a sluggish economy. Too much optimistic data could mean that the monetary easing will end sooner than later, something Wall Street does not want to see happen. The latest meeting of the Federal Open Markets Committee was merely a continuation of the last statement that it is going to keep printing money for the foreseeable future.
Earnings reports continued to fly in from blue chip companies this past week. According to FactSet, of the 234 S&P 500 companies that have now reported fourth-quarter earnings, 70 percent have posted earnings that topped analyst estimates and 67 percent have beaten predictions for revenue. The blended earnings growth rate for the fourth quarter is 4.0 percent, again above what was originally projected by Wall Street experts. On the down side, 50 companies have provided negative earnings guidance for the first quarter of 2013, while only 11 have provided a positive earnings per share outlook for the first quarter.
This week will simply be a question of momentum and if it can continue without many catalysts this week. The rally in US equities is getting overextended, but it is clear that investors want to see the Dow hit record highs. Economic data will be muted to a degree this week, although some key information is coming on manufacturing and the US trade balance. We`re about halfway through earnings season and will see another solid batch of reports this week that will be in focus to try and guide the markets higher.
After surging 1.4 percent in the week prior against the Canadian dollar, the US dollar surrender almost 1 percent of those gains this last week, moving back below parity with its North American counterpart. The USD was generally weak again, including the euro hitting a 14-month high against the greenback as reports of the US economy shrinking stung the US currency. The ICE dollar index, which measures the USD against a basket of major currencies, tumbled 0.78 percent. On the week, Canada`s dollar advanced 0.91%, or $0.009085, against the greenback, meaning next week will begin with one Canadian dollar buying US$1.0032. After flip-flopping with parity for the first time since November, the two currencies ended January basically flat with the loonie`s rise last week.
* Gold futures swung higher largely because of a strong move on Wednesday after gross domestic product in the U.S was reported to have contracted in the fourth quarter, signaling that the Federal Reserve would continue with its aggressive monetary easing efforts to help buoy the economy. A weaker US dollar and higher unemployment rate in the States helped gold prices shine as a hedge against inflation on weak economic data that supports quantitative easing policy. However, plenty of economic data this past week showed a strengthening economy, paring gains for bullion. April contracts moved into the most actively traded position late in the week, advancing $14.00 per ounce, or 0.85%, to $1,670,60. On the month, gold remained bearish by holding its downtrend which started in October, with spot gold losing $9.00 per ounce, or 0.54 percent in January.
* Silver futures tracked gold prices with volatile movements from mid-week on, but a stronger day on Friday left silver outpacing its higher priced relative. Silver prices advanced almost 2 percent on Friday, making it the best performer of the 24 materials in the S&P GSCI Spot Index. Silver for March delivery was the most actively traded; rising 2.41%, or $0.752, to $31.958 per ounce. Across January, spot silver prices rose by 3.79 percent, or $1.15 per ounce.
* Copper prices surged to their highest level since early in October, fueled by strengthening economic data in the manufacturing sectors of the US and China, the world`s largest consumer of the red metal.
Copper is highly sensitive to factory activity because of its myriad of uses in industrial applications. Closing near its highs for the week, copper is in a solid uptrend that began in November at lows around $3.40 per pound. March contracts were the most actively traded on New York`s COMEX exchange during the week; climbing by 13.25 cents, or 3.63%, to $3.7845 per pound. In January, spot copper prices advanced 9.8 cents, or 2.69 percent.
* Oil prices rose to four-month highs on Friday as traders remain optimistic about the global economy. Investors also cheered the start-up of the expanded Cushing, Oklahoma-to-Texas Seaway pipeline, which will help lower inventories in the US. The pipeline is expected to be running at full capacity of 400,000 barrels per day in the next six months. On the week, March contracts for West Texas Intermediate crude were the most actively traded; growing by $1.89, or 1.97%, to $97.77 per barrel. Spot WTI crude was a strong performer in January, rising by $5.71 per barrel, or 6.22 percent.
Equity Market Snapshot:
(All percentages on a weekly basis unless otherwise noted) * Major gold miners continued to gimp this past week with gold still losing some luster. Yamana Gold (TSX:YRI, +0.43%) eked ahead, but Kinross Gold (TSX:K, -3.26%), Goldcorp (TSX:G, -0.81%), Barrick Gold (TSX:ABX, -2.79%), Newmont Mining (TSX:NMC, -0.68%) and Agnico-Eagle Mines (TSX:AEM, -0.06%) all moved lower.
* Also in the mining sector, Rio Tinto Group (NYSE:RIO, +3.94%), the world’s second-biggest mining company, said it may halt construction at its $6.2 billion Oyu Tolgoi copper and gold project in Mongolia because the government there wants a bigger portion of the profits from the mine.
* Energy plays were mixed even with rising crude prices. Exxon Mobil (NYSE:XOM, -1.84%), Imperial Oil Ltd. (NYSE:IMO, -1.70%) and Canadian Natural Resources (NYSE:CNQ, -1.27%) fell lower, while Suncor Energy (NYSE:SU, +1.14%), Cenovus Energy (NYSE:CVE, +1.69%) and Talisman Energy (NYSE:TLM, +5.53%) grew in value.
* Imperial Oil reported a 7 percent rise in fourth-quarter profit compared to last year by recording $1.07 billion, or $1.26 per share, as lower expenses offset declining revenue.
* Houston, Texas-based CononcoPhillips (NYSE:COP, -3.67%) said earnings fell as prices for oil and natural gas declined and also warned that production would be lower in 2013.
* The biggest of banks in the US were again solid performers.
Goldman Sachs Group (NYSE:GS, +3.77%), JPMorgan Chase (NYSE:JPM, +1.46%), Wells Fargo & Co. (NYSE:WFC, +0.69%), Bank of America (NYSE:BAC, +0.77%), Citigroup (NYSE:C, +0.26%) and UBS AG (NYSE:UBS, +0.57%) all climbed again. XLF (NYSE:XLF, +0.80%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, climbed again to a new multi-year high.
* Canada`s biggest banks generally squeaked higher this past week.
Canadian Imperial Bank of Commerce (TSX:CM, +0.04%), The Bank of Nova Scotia (TSX:BNS, +0.72%), National Bank of Canada (TSX:NA, +0.09%) and Royal Bank of Canada (TSX:RY, +0.71%) all advanced, while Toronto-Dominion Bank (TSX:TD, +0.00%) was flat and Bank of Montreal (TSX:BMO, -1.89%) gave up a few points.
* The unveiling of Research in Motion`s (TSX:RIM, -26.12%) new BlackBerry 10 was not a catalyst for the Waterloo, Ontario company to march higher. Although to call them “Research in Motion” any more is inaccurate as the company announced an official name change to “BlackBerry” at the event in New York City where it showed the world its new phone and operating system.
* Facebook (NASDAQ:FB, -5.74%) delivered fourth-quarter earnings of 17 cents per share, beating analyst predictions of 15 cents per share, on revenue of $1.59 billion, better than the $1.53 billion analysts had expected. Shares suffered, though as the social media giant said that mobile user growth slowed more than anticipated during the quarter.
* Shares of Boeing Co. (NYSE:BA, -0.21%) slipped a little lower as it reported profits that beat estimates and said that it doesn`t expect much of an impact from its 787 Dreamliners being grounded across the world due to mechanical issues.
* Montreal-based IT services company CGI Group Inc. (TSX:GIB.A, +6.82%) reported that fiscal first-quarter revenue soared 147 percent to $2.53 billion compared to the year prior quarter.
* Also from Montreal, Domtar Corp. (TSX:UFS, -8.23%) said quarterly earnings slid to $19 million, or 54 cents per share, in the fourth quarter from $61 million , or $1.63 per share, in the fourth quarter of 2011. Adjusted earnings dropped to $46 million or $1.31 per share, missing analyst expectations of $1.40 per share.
* The Federal Trade Commission and three state attorney generals shut down Lexington, Kentucky-based Fortune Hi-Tech Marketing, a seller of health and beauty products, calling it a “global pyramid scheme.” Fortune is a private firm, but the news hitting the wires weighed on Herbalife Ltd. (NYSE:HLF, -19.55%), a company dubbed a pyramid scheme by hedge fund manager Bill Ackerman.
* Potash Corp. of Saskatchewan (TSX:POT, -3.21%), the world`s biggest fertilizer company, reported that sales fell 12 percent as global potash demand slowed in the fourth quarter. The company whiffed on earnings expectations by only reporting $421 million, or 48 cents per share, in profits compared to $683 million, or 78 cents per share in the year prior quarter.
* Constellation Brands (NYSE:STZ, -15.12%) saw shares plunge after the Justice Department sued to stop Anheuser-Busch InBev`s (NYSE:BUD, +0.62%) proposed $20.1 billion purchase of Mexican brewer Grupo Modelo. Constellation, a liquor and wine producer, was set to expand as part of a side deal in the merger.
* Auto sales were strong in January, according to the latest reports.
General Motors Co. (NYSE:GM, -3.10%) reported a 15.9 percent spike in sales in January to 194,699 units. Ford Motor Co. (NYSE:F, -4.82%) said sales were 22 percent higher in January to 166,501 vehicles and Toyota Motor Corp. (NYSE:TM, +2.11%) said sales rose 26.6 percent to 157,725 units. All tallied, car makers sold about 1.1 million units last month, up 15 percent from January 2012.
* Shares of Celsion Corporation (CLSN) took a beating Thursday morning after the company said that its phase III HEAT trial of ThermoDox for hepatocellular carcinoma, or liver cancer, failed to meet its primary endpoint of increasing survival rates in patients without the cancer progressing. The HEAT Study, which included ThermoDox used in combination with radiofrequency ablation, was designed to show a 33 percent improvement in PFS with 80 percent power and a p-value = 0.05.
* AstraZeneca PLC (NYSE:AZN, -3.02%) reported a decline in fourth-quarter revenue while also warning that it expects the trend to continue in 2013, citing challenges related to losing patent protection on several drugs. Revenue fell to $7.28 billion in the latest quarter from $8.66 billion in the year prior quarter and operating profit dropped 3 percent from $2.17 billion, or $1.61 per share, to $1.96 billion, or $1.56 per share. The quarterly results beat analyst expectations, but the poor outlook was a surprise.
* Shares of Amazon.com, Inc. (NYSE:AMZN, -6.69%) dumped points after initially climbing on an earning report that surprised analysts with better operating income than expected, although the other key number missed. The online retailer reported that net income fell by 45 percent to $97 million, or 21 cents per share, in the fourth quarter, compared with $177 million, or 38 cents per share, in the year prior quarter. Revenue in the latest quarter equaled $21.27 billion, ahead of $17.43 billion in Q4 2011. Analysts were expecting $22.26 billion and earnings per share of 28 cents. Operating income surged 56 percent to $405 million during the quarter, up from only $206 million in the year prior quarter.
* Yahoo! Inc. (NASDAQ:YHOO, -2.99%) reported GAAP revenue of $1.35 billion for the fourth quarter and adjusted earnings of $272.3 million, or 32 cents per share, compared to net income of $295.6 million, or 24 cents per share, in the year prior quarter. Analysts were expecting revenue of $1.21 billion and earnings per share of 27 cents.
* Caterpillar Inc. (NYSE:CAT, +4.09%), the world`s biggest mining and construction equipment maker, said that net profits in the latest quarter fell 55 percent to $697 million, or $1.04 per share, on lower sales and a $580 million, or 87 cents per share. In the year prior quarter, Caterpillar reported $1.55 billion in profit, or $2.32 per share. Excluding one-time items, profit totaled $1.46 per share.
Fourth-quarter revenue was $16.08 billion, 7 percent lower than the year earlier quarter. The revenue figure topped expectations of $16 billion, but EPS missed predictions of $1.69 per share.
* In some IPO news, TRI Pointe Homes (NYSE:TPH) made its Wall Street debut and rose from $17 to $19 per share. Zoetis, Inc. (NYSE:ZTS), an animal-health company owned by Pfizer, Inc. (NYSE:PFE, +3.32%) debut with shares pricing at $26 U.S. each, well above the target range, and closed Friday at $31.01 per share in the largest IPO since Facebook raised $16 billion last May.
Weekly Indices Results:
The S&P TSX Composite Index couldn`t recover from losses on Wednesday and Thursday and ended up dropping points for the first time in five weeks; losing 47.20 points, or 0.37%, to 12,768.83. The TSX Venture Exchange outdid its bigger counterpart; rising 1.40 points, or 0.11%, to 1,228.66.
In the States, the Dow Jones Industrial Average rose for the fifth straight week; hitting multi-year highs by gaining 113.81 points, or 0.82%, to 14,009.79. The much-broader S&P 500 followed along; adding 10.21 points, or 0.68%, to close at 1,513.17. The tech-rich NASDAQ Composite completed the green sweep in the States; appreciating by 29.39 points, or 0.93%, to 3,179.10.
Canadian Economic Data:
* Statistics Canada reported that in December the Industrial Product Price Index (IPPI) was unchanged compared with November after declining the two prior months. An increase in primary metal products (+0.9%) was offset mainly by a decline in motor vehicles and other transportation equipment (-0.5%). Of the 21 major commodity groups, 6 were up, 11 were down, and 4 were unchanged. Compared with December 2011, the IPPI was up 0.2%, the first year-over-year increase in five months.
* The Raw Materials Price Index (RMPI) fell 2.0 percent in December, largely because of lower prices for crude oil. It was the third straight month of declining prices. The decrease of the index was almost entirely attributable to lower prices for mineral fuels, specifically crude oil (- 5.9%). The RMPI excluding mineral fuels rose 0.9% in December. Among the other product groups that declined was vegetable products (-0.9%), resulting from lower prices for grain, particularly corn and wheat. The downward movement of the RMPI was partly moderated by non-ferrous metals (+2.7%), mainly because of higher prices for copper concentrates (+4.2%). Compared with December 2011, the RMPI was down 8.0%. On a year-over-year basis, the index has not recorded an increase since February 2012.
* Stats Can also said that real gross domestic product grew 0.3% in November, following a 0.1% rise in October. Most major industrial sectors increased production in November. Goods production increased 0.6% while the output of service industries rose 0.1%. Manufacturing output expanded 0.7% in November following a 0.9% decrease in October.
Durable goods production rose 0.9% in November, on the strength of primary metal and transportation equipment manufacturing. Conversely, machinery manufacturing declined in November. Retail trade (+0.6%) increased for a third consecutive month in November. Motor vehicles and parts dealers were the main contributors to the growth.
This week, major economic data will include Ivey PMI on Wednesday; Building Permits on Thursday; and Trade Balance, Housing Starts and the Labor Force Survey (Unemployment Rate) on Friday.
U.S. Economic Data:
* The Commerce Department reported that orders for durable goods, items from toasters to aircrafts meant to last more than three years, expanded in December by 4.6 percent, largely on the back on an increase in aircraft orders. So-called “core” durable goods, those that strip-out volatile categories like defense spending and transportation, increased by 0.2 percent, following two months of larger gains.
* A contracting inventory slowed pending home sales in December, according to the National Association of Realtors. The organization said that seasonally adjusted number of contracts to buy houses, condominiums and co-ops dropped by 4.3 percent to 101.7 in December from November, when it had hit 30-month highs. On a year-over-year basis, though, pending home sales were still 6.9 percent higher than in December 2011.
* The Dallas Federal Reserve reported that its manufacturing index registered 5.5 in January from a downwardly revised 6.8 in December.
Readings above zero indicate expansion in business activity amongst manufacturers in the Dallas region. The gains were paced by increases in new orders (+13.2), capacity utilization (+11.9) and delivery time (+11.2). Declines were only posted in two of the 15 categories, hours worked (-1.9) and finished goods inventory (-0.1).
* The S&P/Case Shiller Home Price Index showed that home prices slipped in November on seasonal weakness with half of the 20 cities comprising the index seeing lower property values, although long-term trends still showed strength. The index dropped a non-seasonally adjusted 0.1 percent for the month after a 0.2 percent decline in October. With seasonal adjustments, the index actually rose by 0.6 percent. Compared to November 2011, prices were up by 5.5 percent, although still 30 percent below peaks in 2006.
* The Commerce Department said that gross domestic product contracted in the fourth quarter, marking the first time GDP was in negative territory since the recession ended more than three years ago. Sharp cuts in government spending and business inventories in the October to December period drew-down GDP to -0.1 percent. Economists were generally not too concerned as the rest of the report was strong and the lower government and inventory expenditures were considered a one-off related to the fiscal cliff that was staring down the country in Q4. Consumer spending, which makes up about 70 percent of GDP, accelerated by a 2.2 percent annual rate in the fourth quarter.
* The latest ADP Employment Report showed that private employers in the US added 192,000 jobs in January, topping economist predictions of 165,000 additions. Meanwhile, ADP revised its December figure down from 215,000 new jobs to 185,000.
* After hitting a five-year low in the prior week, initial jobless claims rose by 38,000 to 368,000 for the week ended January 26, according to the Labor Department. Economists were expecting a climb to 355,000. The four-week moving average, a less-volatile gauge of labor trends, inched upward by 250 to 352,000 and remains near four-year lows.
* The Commerce Department said that personal incomes rose 2.6 percent in December, the largest increase in eight years and well above the 1.0 percent predicted by economists. The increase was largely attributed to dividend payments as many companies issued dividends before the new year to avoid tax increases that were enforced as part of the end of Bush-era tax cuts. Personal saving surged 6.5 percent, the largest move since 2009. Personal consumption expenditures only rose 0.2 percent.
* The Institute for Supply Management`s manufacturing index climbed to 53.1 in January from 50.2 in December, marking the highest level in nine months and beating expectations of a 50.6 reading. Readings above 50 indicate expansion in manufacturing. All of the components were strong for the month, including the two key components of new orders and production.
* The economy created a tepid 157,000 new jobs in January, said the Labor Department. With the modest gains and more people looking for work, the unemployment rate upticked from 7.8 percent in December to 7.9 percent in January. The bright spots of the latest employment situation report were revisions made to November and December, which added 127,000 more jobs than originally estimated. For all of 2012, the US created 2.17 million new jobs, about 181,000 per month, according to the latest figures. The December total is still subject to another revision next month.
* The University of Michigan/Thomson Reuters consumer sentiment index rose in January to 73.8 from 72.9 in December, beating economist expectations of a 71.5 mark. Consumer sentiment plunged in December as consumers fretted about the looming fiscal climb, but looks to be modestly on the mend to start the new year.
This week, data in the States will include Factory Orders on Monday; ISM Non-Manufacturing on Tuesday; Initial Jobless Claims on Thursday; and the latest Trade Deficit information on Friday.
Technical Penny Stocks to Watch & Company Spotlight Results:
Amongst our “Daily Technical Penny Stocks to Watch,” the largest mover was Madalena Ventures Inc. (TSX-Venture:MVN) which was listed to watch on Friday with Thursday`s closing price of 39.5 cents. Shares churned immediately ahead to close Friday at 43 cents, for a gain of 3.5 cents, or 11.39 percent, in one day. Congratulations to all the technical traders that took notice of V.MVN this past week.
Our newest US spotlight, Terra Tech Corp. (OTCBB:TRTC), a leader in medical cannabis equipment manufacturing and distribution, provided plenty of information to investors this past week. On Monday, the company released a shareholder update of their corporate objectives and details on their current M&A opportunities. Terra Tech has been vocal about their aggressive growth plans, including acquisitions.
The company recently announced signing LOI’s to acquire two companies, GroRite Garden Centers and NB plants/ Edible Garden brand.
Upon a successful merger these two acquisitions will push annual revenue for Terra Tech to over $10 million.
Further, the company has placed a deposit on 5 acres of greenhouse structure to be erected at NB Plants in New Jersey. As phase one, NB Plants plans to construct 1.5 acres immediately to fulfill the demand of a new contract for close to $1 Million in additional product sales.
The construction of the additional 3.5 acres is planned over the following 24 months. Each acre of greenhouse has the ability to produce close to $2 million of produce annually. Interested parties are encouraged to read the complete shareholder letter to learn more about Terra Tech.
Also, an audio interview (http://smallcapvoice.com/blog/1-23-13-smallcapvoice-interview-with-terra-tech-corp) with SmallCapVoice.com, Inc. was published last week. Derek Peterson, CEO of Terra Tech, called in to SmallCapVoice.com to go over the business model, market, the recent news for company and much more.
The interview also includes the goals for TRTC in 2013.
We said in the week prior that TRTC looked technically positioned to make a move and that move gained momentum last week. Volume got heavier and the share price moved quickly, jumping 23.40 percent, or 11 cents per share, to close the week at 58 cents. Now the indicators are looking strong for possible continuation this week, so keep it on your watchlists.
The Month at a Glance – January After a rough month in December when investors, consumers and policymakers were staring down the barrel of the fiscal cliff, stock roared back in January for a historic month, as mentioned above. By large, commodities had a good month as well, with the exception of gold as traders stay cautious about bullion given the indecisiveness surrounding it as a hedge against inflation. Manufacturing globally, especially from the US and China, showed growth again in January, even if tepid at times, wending way for optimism regarding future demand for industrial metals like copper and silver as well as crude oil.
Crude prices are nearing the $100 mark again for the first time since early in September.
China delivered some promising data showing that the country is not in for the hard landing with its economy that some economists were expecting. Early in the month, the world`s second largest economy showed signs of expansion again by posting a whopping 14.1 percent increase in exports in December compared to the year prior month, the biggest rise since May. Further, the country said it grew by 7.9 percent in the fourth quarter, topping the prior year`s quarter 7.4 percent growth rate.
Money is flowing back into the markets like it hasn`t done in years.
Consulting firm Strategic Insight said that roughly $51 billion in net deposits were moved into investment funds in January, marking the largest influx of investor`s cash since January 2004.
January was filled with political wrangling in Washington. Lawmakers postured for position surrounding the US budget and the fiscal cliff.
No long-lasting decisions have been made, but most of the real substantial spending cuts and automatic tax hikes that comprised the so-called cliff were averted with a Congressional agreement on budget modifications hours into the new year. The bill increased taxes on the wealthiest two percent of Americans (couples making more than $450,000 annually and individuals making over $400,000) and permanently keeps Bush-era tax cuts in effect for the “middle class.” Also part of the deal, taxes increased two percent as the Social Security tax cut was revoked. Amongst other things, the deal also kept extended unemployment benefits in place for jobseekers through 2013. Further automatic spending cuts were postponed until March in an attempt to keep the US from hitting the debt ceiling that it is scraping against.
Also from Washington, President Barrack Obama was inaugurated for his second term in January and the House of Representatives passed a three-month extension of the debt limit. The bill, known as the “No Budget, No Pay Act of 2013,” directs the Senate and the House to adopt a new budget for 2014 by April 15th. If either chamber doesn`t pass a budget by that day, then the paychecks for everyone in the chamber will be put into an escrow account until a budget is passed.
The debt issues of the US were the topic of a report from credit rating firm Fitch, who said that the United States is facing a “material risk” of losing its AAA status if federal regulators repeat the political jockeying over raising the debt ceiling like they did in 2011. Fitch`s current AAA rating for the USA is now asterisked with a “negative outlook.” Midway through the month, the World Bank cut its global growth forecast for 2013, warning of potential downside risks, while also saying that the worst of the financial crisis seems to be behind us.
Overall macroeconomic conditions still resulted in the institution revising its expected global growth for the year to 2.4 percent, down from the original 3.0 percent growth forecast in June.
In Canada, Finance Minister Jim Flaherty said that he expects to choose a successor to central bank Governor Mark Carney in April.
Flaherty said that he is looking around the globe to find the right candidate to run the Bank of Canada when Carney heads overseas to assume the position of Governor of the Bank of England.
Global central bankers softened the rules requiring lenders to set capital aside as part of two-year old Basel III regulations in an attempt to support a global financial recovery and help corporations get their hands on new money. The watered-down rules, amongst other things, tweak the definition of what constitutes “safe bank capital.” Much like before the global financial collapse, stocks and AAA-rated mortgage-backed securities once again count towards a bank`s reserve capital.
Monthly Indices Results:
* S&P TSX Composite: up 2.02% (+251.71 pts.) * TSX-Venture: up 0.01% (+0.11 pts.) * Dow Jones Industrial Average: up 5.77% (+756.44 pts.) * S&P 500: up 5.04% (+71.92 pts.) * NASDAQ: up 4.06% (+122.62 pts.) Monthly Equity Market Snapshot:
(All percentages on a monthly basis unless otherwise noted) * Apple, Inc. (NASDAQ:AAPL, -0.41%) fell for the fourth straight month and even relinquished its position as the world`s biggest company to Exxon Mobil (NYSE:XOM, +3.95%) as the company posted record quarterly revenue of $54.4 billion and net profit of $13.08 billion, or $13.81 per share in fiscal Q1 2013. The company has been under scrutiny lately with analysts questioning its ability to sustain its growth path and those concerns were re-ignited as Apple forecast revenue of $41 billion to $43 billion for the first quarter, below analyst predictions of $45.6 billion in sales. Shares were also hurt by reports that management had cut orders for iPhone 5 components because of weak demand.
* Aurizon Mines Ltd. (TSX:ARZ, +34.69%) encouraged shareholders to reject a hostile $780-million in cash and share takeover bid by Alamos Gold Inc. (TSX:AGI, -12.15%). Aurizon`s board has adopted a shareholder rights plan to hold-off the takeover attempt and buy some time to pursue other alternatives.
* BlackBerry (TSX:RIM, +9.49%), the company formerly known as Research in Motion, stumbled far from highs in the last week of January, but still recorded its fifth consecutive green month as it unveiled its new BlackBerry 10, changed its name and enjoyed Apple`s report of fleeting sales. The stock got a rise from an article in a German newspaper in which RIM`s CEO said that the company is exploring the idea of licensing its handset business to rivals. Also in January, Jefferies upgraded RIM to buy from hold and boosted its target price to $19.50 from $13.
* Shares of Dell Inc. (NASDAQ:DELL, +2.49%) advanced after CNBC reported that Microsoft (NASDAQ:MSFT, +2.31%) was in talks with private equity firm Silver Lake Partners and Dell CEO Michael Dell to invest up to $3 billion in the buyout of the embattled PC manufacturer. Shares of Dell (NASDAQ:DELL, +18.01%) jumped after reports surfaced that the struggling computer maker was in negotiations to go private with investment firms and its founder, Michael S. Dell, in a leveraged deal worth more than $20 billion.
* ConocoPhillips (NYSE:COP, +0.02%) said that it has agreed to sell its properties in the Cedar Creek Anticline to Denbury Resources Inc.
(NYSE:DNR, +15.00%) for $1.05 billion in cash. The land, comprised of about 86,000 net acres, is located in southwestern North Dakota and eastern Montana.
* VF Corporation (NYSE:VFC, -2.25%) and Altamont Capital Partners said that they have presented an offer to acquire Australia’s Billabong International Ltd. for A$526.8 million ($556 million U.S.), or A$1.10 per share ($1.16 U.S.). VF Corp., which has name brands like The North Face, Timberland, Vans, Lee and Wrangler in its portfolio, is looking to expand its sports product line with the purchase of Australia’s largest surf brand. Altamont’s motivation seems to be to acquire Billabong’s other assets and brands, which include niche lines like Element, Von Zipper and Tigerlilly.
* Switzerland`s Swatch Group reached an agreement to buy Harry Winston Diamonds` (NYSE:HWD, +4.98%) retail jewelry and watch division for $1 billion in cash and assumed debt. The Toronto-based company will retain its gemstone mining operations, which it intends to utilize the cash to pursue mining opportunities as Dominion Diamond Corp. Harry Winston also announced a plan to buy BHP Billiton`s (NYSE:BHP, +0.38%) Ekati diamond operations in Northern Canada but that plan hit a snag with a minority partner filing a lawsuit to try to block the deal.
* Flowers Foods (NYSE:FLO, +15.51%) rose in value after the company announced an offer to buy Wonder Bread, Nature`s Pride and three other bread brands from bankrupt Hostess for $360 million. Separately, Flowers said it would also buy the Beefsteak brand of rye bread for $30 million. Along with the brands, Flowers will get 20 bakeries and 38 shipping depots. Flowers product line already includes Nature`s Own and Tasykake brands.
* Boeing`s (NYSE:BA, -1.98%) shares were under pressure related to its heralded 787 Dreamliners. Two Japanese airlines grounded all of their fleets of 787 aircraft after one of All Nippon Airways` Dreamliners was forced into an emergency landing. Officials in Europe, India and Japan have now joined the Federal Aviation Administration in prohibiting flights on Dreamliner planes, citing worries about onboard lithium-ion batteries that have caught fire twice recently and other mechanical problems.
* First Quantum Minerals Ltd. (TSX:FM, -8.22%) said that it sent its $5.1-billion takeover offer for Inmet Mining Corp. (TSX:IMN, -2.72%) directly to the copper miner`s shareholders. In December, First Quantum increased its offer to $72 per Inmet share in a 50/50 cash and stock deal. To that end, Leucadia National Corporation, the largest shareholder of Inmet Mining, said that it plans to tender its shares to First Quantum. At this point, the offer is open until February 14.
* Air Canada (TSX:AC.B, +39.43%) had shares jump to their highest close since March 2011 as it posted record load factors in December and all of 2012. The airline said its load factor climbed 1.1% and rose to 82.1% in December and 82.7% for 2012 from 81.6% in 2011. Rival WestJet Airlines (TSX:WJA, +7.82%) also posted record numbers for December (load factor = 81.9%). WestJet has risen in 10 straight months and 13 out of the last 14 months.
* Car-sharing company Zipcar, Inc. (NASDAQ;ZIP, +48.18%) agreed to be acquired by rental car giant Avis Budget Group, Inc. (NASDAQ:CAR, +8.63%) for $12.25 per share in an all-cash transaction valued at approximately $500 million, representing a 49% premium to the prior day`s closing price.
* Bombardier Inc. (TSX:BBD.B, +3.99%) continued a steady stream of deal flow with news that it received an order to supply Germany`s Abellio Rail with 35 of its Talent 2 trains for use in 2015 in a deal valued at $226 million.
* Solar plays shone bright on reports of increasing future demand from China as well as news that Warren Buffett`s Berkshire Hathaway (NYSE:BRK/B, +8.06%) invested between $2 billion and $2.5 billion in two projects of SunPower Corp. (NASDAQ:SPWR, +38.61%). Joining the solar rally were shares of Suntech Power Holdings Co., Ltd. (NYSE:STP, +9.15%) and LDK Solar Co., Ltd. (NYSE:LDK, +16.67%).
Monthly Penny Stocks To Watch Leaders & Company Spotlight Results:
Among our daily technical stocks to watch each day, 8 of the 20 choices presented opportunities for double-digit gains. The biggest play for the month was East Asia Minerals Corp. (TSX-Venture:EAS), which was presented as the first Company of the month when shares were trading at 20.25 cents and looked to be breaking through resistance.
A steep climb followed to highs of 36 cents in a two weeks, representing a top gain of 15.75 cents, or 77.78 percent.
Our latest US spotlight, Terra Tech Corp. (OTCBB:TRTC) was released only just over a week ago, but the company has provided solid gains already for our members. Companies involved in the medical marijuana industry are simply starting to catch fire and with all that Terra Tech has going on with acquisitions and organic growth, we believe that the upward trend could continue. From its introductory price of 45 cents on January 23, the stock has already risen almost 30 percent and is now pushing through a key resistance point, so we encourage our members that haven`t done so yet to begin their due diligence, starting with the latest corporate news and our profile detailing the company and industry here: (http://www.allpennystocks.com/aps_us/company_spotlights/archives/trtc.asp).
————————- Forward Looking Statements This report includes forward-looking statements that reflect the mentioned companies current expectations about its future results, performance, prospects and opportunities. the mentioned companies has tried to identify these forward-looking statements by using words and phrases such as “may,” “will,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “we are confident” or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause the mentioned companies actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company`s growth expectations and ongoing funding requirements, and specifically, the Company`s growth prospects with scalable customers, and those outlined above. Other risks include the Company`s limited operating history, the Company`s history of operating losses, consumers` acceptance, the Company`s use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company`s securities, the possible volatility of the Company`s stock price, the concentration of ownership, and the potential fluctuation in the Company`s operating results.
Disclaimer AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable.
For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company`s expectations and estimates.
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