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CNBC - Closing Bell Stock Commentary for 2/2/2009

The most recent commentary from CNBC followed by Ockham
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“… Short because it works so well. The company saying they significantly extended the time that patients lived without their disease, advancing the exact amount of time will apparently be revealed at a in the meantime GENENTECH says it's going to talk about these promising results with the fda. But rebecca, lung cancer is the nation's number one cancer killer. >> and a big move in that stock. Thanks so much, mike huckman. …”
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“… Entirety on cnbc.Com. We do have some breaking news and we're going to head over to mike huckman. >> i'm pleased to say it's more good news on the medical front with news out of genentech and its partner OSI PHARMACEUTICALS. The tickers are gna and OSIP. These companies are saying that when you combine their two lung cancer drugs, avastin and tarciva, together that they worked so well together that …”
“… You can watch that in its entirety on cnbc.Com. We do have some breaking news and we're going to head over to mike huckman. >> i'm pleased to say it's more good news on the medical front with news out of GENENTECH and its partner osi pharmaceuticals. The tickers are gna and osip. These companies are saying that when you combine their two lung cancer drugs, avastin and …”
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“… They are much less affected than the others, and some still we are doing well. Still we are profiting like our transaction with credit suisse, still it sounds good. With BARCLAYS it is a little bit but it's not like what we see in some banks. >> would you consider putting more money into BARCLAYS right >> well, we are looking to any new opportunities and if BARCLAYS become new opportunities we will look at this seriously. We support the bank. They are in good shape. Yes, they have problem, but it's much less, according to my own …”
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“… Risky lending by banks. That just sets us up for another credit crisis. >> I want to clarify one point did the loans last year actually increase, or does this have to do with the conversion of banks like GOLDMAN SACHS and morgan stanley into bank holding is that skewing the data in any way as we look at it? >> as I understand how the fed pulls this data together, it …”
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“… Sales. Partners with ilan. In a statement it called the the stock up 31%. Dr. Fox has been a consultant and speaker for BIOGEN IDEC. He says this blood clengz procedure needs to be done on more patients to further confirm it works as well as they think of course for more check out my blog, pharmasmarket.Cnbc.Com. …”
“… But if it's treatable, then that may change some of the sentiment that neurologists and patients have about this drug. >> so checking after hours, shares of BIOGEN IDEC up 7 1/2%. Now $5.34 to $54. It closed at 50.11. The company reports earnings later this week. And fourth quarter tysabri …”
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4:10:12 PMHUMHumana Inc.
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4:09:51 PMMMacy's, Inc.
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4:07:09 PMNUENucor Corp.
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“… >> well, first of all, you have to really focus on the defensive we have started over the last few weeks upping our allocation into defensive names like altria, JOHNSON & JOHNSON, we like unilever because they can pass on those food prices to their customers and they also don't have the burden of a strengthening dollar. I think outside of those defensive names we still have a problem with big pharmaceuticals even though we do have some JOHNSON & JOHNSON, we think that the pipeline is uncertain across the big pharma industry. But we do think that you can play protectionism here a little bit, especially on some large cap names like nucor. If there is going to be …”
“… >> well, first of all, you have to really focus on the defensive we have started over the last few weeks upping our allocation into defensive names like ALTRIA, johnson & johnson, we like unilever because they can pass on those food prices to their customers and they also don't have the burden of a strengthening dollar. I think outside of those defensive names we still have a …”
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4:04:40 PMMMacy's, Inc.
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4:03:57 PMMMacy's, Inc.
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4:02:42 PMMMacy's, Inc.
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4:02:33 PMHUMHumana Inc.
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“… Nordstrom's dropped. Saks dropped. All the retailers right across the board here. Walmart is the only big retailer sitting at new multi-year lows. We had some real weakness in the industrial stocks here today including a new low by our parent company, GENERAL ELECTRIC. But rockwell automation, they came out earlier in the day and made some negative comments on their earnings front and that hurt the market overall. We did have some strength in hmo stocks as well because humana …”
“… Take a look at some of the the bottom line is macy's dropped. Nordstrom's dropped. Saks dropped. All the retailers right across the board here. WALMART is the only big retailer sitting at new multi-year lows. We had some real weakness in the industrial stocks here today including a new low by our parent company, general electric. But rockwell automation, they came out earlier in the day and made some negative comments on …”
4:02:12 PMSKSSaks, Inc.
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“… Tarp plan will make a difference traders say some people have to get away from that idea for us to hit a real bottom here. Take a look at some of the the bottom line is macy's dropped. NORDSTROM's dropped. Saks dropped. All the retailers right across the board here. Walmart is the only big retailer sitting at new multi-year lows. We had some real weakness in the industrial stocks here today including a new low by our parent company, general …”
4:02:09 PMMMacy's, Inc.
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4:01:03 PMMMacy's, Inc.
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4:00:26 PMMMacy's, Inc.
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3:59:31 PMMMacy's, Inc.
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3:56:03 PMAFLAFLAC, Inc.
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3:55:43 PMINTUIntuit Inc.
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“… Chairman and ceo jeff kimler continued his campaign in defense of this deal, making an encore appearance here on cnbc. And that's worth about 2 1/2% but the biggest dollar gainer in big pharma is BRISTOL-MYERS SQUIBB on reports that sanofe aventis are looking to buy something. They're already partners on the …”
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3:52:39 PMWYEWyeth
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3:52:32 PMPFEPfizer, Inc.
“… >>> PFIZER, this stock was the worst performer in the dow last week. Falling about 16.5%. After the company announced it is buying wyeth. But today credit suisse upgrade the stock to outperform and …”
“… 40 bucks a barrel, declining today after a recent string of negative economic indicators. And for more on oil's next move we're joined by fadel gates, managing director of oil and gas research at OPPENHEIMER and walter zimmerman, chief technical analyst at united let's start with you, fadel. Do you agree we could see oil at 60 bucks a barrel in two months? >> not really. Well, I -- …”
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“… The need to take what you've got when you get a little something right now because of the way the market-s what is your counsel to those who may have enjoyed a little bit of prosperity over names, whether it's apple or MICROSOFT or anybody else? >> well, there's absolutely no reason not to take some off, it doesn't mean you have to take but my counsel would be if you look at research in motion it has made an absolutely …”
3:40:11 PMAAPLApple, Inc.
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3:39:43 PMDELLDell, Inc.
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“… But that's probably deserved because they continue to lose market share when you're talking about the pc sales, which are dropping dramatically. They're losing it globally. They're losing it in the u.S. They've got to get a spark. They've got to get growth. IBM did their largest acquisition ever. They did a lot of acquisitions last year. But their largest was cognose. You look at the eds deal with there's a lot of deals being done out there. There's cash to be spent. …”
3:38:47 PMDELLDell, Inc.
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3:38:39 PMAAPLApple, Inc.
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“… Anyway, let's talk stock market. You talked about how technology's one of the few things as a trend that's showing how are you engaging it? >> well, the cream has been rising to the top. As we've gone through the earnings season, we've seen IBM come out. Their numbers were much better than anyone had ever expected. Apple, now you look forward, ahead, you look at research in motion. To perform, dylan. …”
3:29:16 PMAAPLApple, Inc.
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“… >> but we know they're not going to lead us out of this right tech seems to be the only thing taking this market up at this >> I guess the question you have to ask yourself is why is it that whether it's amazon, google, apple, MICROSOFT today, the names that are holding up, are there enough things working for them in the universal of the unknown future of the economy this year that that can …”
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“… Side, bank of america suffering, those names coming off of their lows a little bit and so the market does as well. The nasdaq actually stronger. Technology, rebecca, going back a couple of weeks now, meaningful outperformer. >> yeah, MICROSOFT big performer up next the view from the floor. Get another take on how you can protect your portfolio in this …”
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3:25:02 PMMMacy's, Inc.
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“… >> and it's interesting to note list that's not looking for help from the government at least as far as today goes, that's trending to the up side. I want to get specifically into your picks, anton. JPMORGAN at the top of the list but let's talk more specifically about your others. >> sure. Another name is tfs financial. They're headquartered in cleveland. They have way too much capital. How about that in today's world? So they're making prudent loans. …”
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“… Share from $14. The analysts there expecting the nation's largest paper and forest products company to cut its dividend by mid-year. 13% comes out of the name as a barclays capital reducing FORD MOTOR to underweight from equal weight on increasing cash and concerns of slowing in international sales. >> thanks, dylan. Financials are expected to see more volatility this week with washington focused squarely on …”
“… Share from $14. The analysts there expecting the nation's largest paper and forest products company to cut its dividend by mid-year. 13% comes out of the name as a BARCLAYS capital reducing ford motor to underweight from equal weight on increasing cash and concerns of slowing in international sales. >> thanks, dylan. Financials are expected to see more volatility this week with washington focused squarely on …”
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“… >>> let's take a look at some of the research calls of the day. Latest upgrades and downgrades coming to you. GOLDMAN SACHS the first name that i'd like to discuss for hang on one second. Let me get my microphone off the floor so we can have a better casino equipment maker scientific games becomes a buy. It was a neutral. …”
3:15:46 PMAFLAFLAC, Inc.
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“… Be able to prosper when the economy turns around? There's going to be early a little longer in the curve that are not going to prosper at the very beginning. Companies like DOW CHEMICAL, for example, a chemical company. When companies start ramping up in the wave of the next economy growth period, you're going to need companies that produce chemicals, companies that are going to be involved in they're going to be able to …”
3:10:26 PMDELLDell, Inc.
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“… Breach of a number of debt covenants. Also the regional banks today hitting lows on the fact that that bad bank situation continues to be on hold, at least until next week. And take a look at the restaurants, STARBUCKS. S&p put its credit watch on and denny's today gets a nice bounce following the super bowl. Offering free breakfast from 6:00 a.M. To 2:00 p.M. …”
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“… Gone the nasdaq today. Overall the big caps have been attracting a little bit of take a look at apple now, up just 17 cents. Google had been up higher, now giving back nearly $2. APPLIED MATERIALS really the issue in the chip space. The chip equipment maker is cutting its forecast. Also says it's going to take about 200 million in charges, nearly 50 million for what it assumes are going to be bad …”
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3:03:57 PMAAPLApple, Inc.
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“… Almost 100 points in the dow as a result of that. As for the competition, well, predictably, 4%, 5%, 6% declines in their direct competitors like nordstrom and saks. WALMART, by the way, ironically is the only big retailer at a new low today. Let's move on here. Just about an hour ago the fed has a quarterly loan survey that came out. You want to know how tough the environment is. …”
“… When macy's dropped, we lost almost 100 points in the dow as a result of that. As for the competition, well, predictably, 4%, 5%, 6% declines in their direct competitors like NORDSTROM and saks. Walmart, by the way, ironically is the only big retailer at a new low today. Let's move on here. Just about an hour ago the fed has a quarterly loan survey that came out. …”
3:02:49 PMSKSSaks, Inc.
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3:02:32 PMMMacy's, Inc.
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3:02:23 PMKSSKohl's Corp.
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3:02:23 PMSKSSaks, Inc.
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“… Bad because the competitors are going to be down even more. Now, thompson's -- we'll get the numbers for retail sales for a lot of these companies out on but saks, kohl's, NORDSTROM, penney's, we're talking double-digit declines, and these are the current analysts' most of them think that they're probably underestimating because they've been consistently underestimating the numbers. So bear in mind, when macy's says they're down 6% to 8% and …”
3:01:46 PMMMacy's, Inc.
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“… Down a percent and a half right now on the dow. The nasdaq, here's the standout, folks, the nasdaq actually trending to the up side throughout today's session thanks to some strength in chips. And MICROSOFT now up just one in the s&p 500, the overall market also trending to the down overall, right now, it's looking a little bit weak, dylan. Down a percent. >> again, the market trying to …”
previous show: Closing Bell for 2/1/2009