Just a brief update this evening before trading begins tomorrow. Spoke to the guys at Lange Financial Services tonight and thought I would post some of the thoughts here for all to read.
The shares of Coal stocks have recently been in a sharp correction phase, more so than the overall markets. We remain bullish on Coal and Coal related shares. There is rising demand for Coal worldwide coupled with rising prices for actual commodity. This gives us good reason to accumulate shares. Peabody Energy now looks attractive along with Cliffs Natural Resources, Walters Energy, and Alpha Natural Resources.
Google released better than expected numbers today. We would be buyers of the shares for aggressive accounts, especially during periods of weakness. We expect the analysts to raise their earnings estimates and share price targets for Google tomorrow. The 2011 outlook is excellent. Management Changes- positive for the future.
We also remain very bullish on Apple as mentioned earlier today. When this stock turns, which could be any time now, we expect the technology shares that have also been aggressively sold in the past two days to perform better, as they follow the leader AAPL back up. A few we like are F5 Networks which is down about $40 points from a recent high, VMware, Qualcomm and IBM.
Tomorrow before the bell we have earnings coming from:
Air Products and Chemicals, Inc. (NYSE: APD) – consensus EPS $1.34
Airgas, Inc. (NYSE: ARG) – consensus EPS $0.79
Applied Industrial Technologies (NYSE: AIT) – consensus EPS $0.44
Bank of America Corp. (NYSE: BAC) – consensus EPS $0.15
BB&T Corp. (NYSE: BBT) – consensus EPS $0.26
First Horizon National Corp. (NYSE: FHN) – consensus loss $0.02
General Electric Co. (NYSE: GE) – consensus EPS $0.32
Metals USA Holdings Corp. (Nasdaq: MUSA) – consensus EPS $0.09
Prosperity Bancshares, Inc. (Nasdaq: PRSP) – consensus EPS $0.68
Schlumberger (NYSE: SLB) – consensus EPS $0.77
SunTrust Banks, Inc. (NYSE: STI) – consensus EPS $0.07
Tennessee Commerce Bancorp, Inc. (Nasdaq: TNCC) – consensus EPS $0.04