CIT
CIT Group announced Sunday that former Merrill Lynch CEO John Thain will be their new CEO. CIT feels confident that Mr. Thain will be able to help repair the company and their image; the financial lender filed for bankruptcy protection last year and suddenly pulled out in December before it was finalized. John Thain left Bank of America in January 2009; Merrill Lynch was sold to Bank of America in September of 2009. There was ongoing controversy over losses, bonus payments and excess spending, it was also reported that Thain spent over $1 million when he worked at Merrill Lynch in '08 to redecorate his office. Thain will take over as Ceo of CIT immediately, replacing Peter Toblin who took over after former CEO Jeffrey Peek retired from CIT on January 15th; Peter Toblin will remain at CIT and serve on the board of directors. It is reported that CIT will pay Thain an annual cash salary of $500,000, along with over $5 million a year in stock. CIT also offered the new CEO up to $1.5 million in bonuses, but that will be based off of the company's performance and will also be decided by the company's board of directors. Thain has quiet the impressive resume, he served as CEO for the New York Stock Exchange and also worked for Goldman Sachs for many years. In a statement Thain said, "Much has been accomplished in recent months to position CIT for renewed success, we will build upon this progress and work even harder to support small and mid-market businesses. CIT can and will serve an important role in the recovery of the U.S. economy and the creation of jobs." Investors responded well to the news, shares of the company rose in early morning trading.
CVS reported a gain of $0.74 a share, or $1.05 billion in the fourth quarter, up from the $949 million they earned in the same quarter last year. Net revenue for the fourth quarter increased by $1.7 billion to $25.8 billion; analysts' expected revenue of $26.43 billion. Hasbro reported an increase of $1.09 per share, or $165.6 million, up from $93.6 million in the same quarter last year. With investors still focusing on the troubles in Europe stock slipped today; commodity and energy prices rallied. Bond prices fell, the yield on the benchmark 10-year note rose to 3.59 from 3.56 Friday. Gold rose $17.20 to $1,070.00 an ounce and crude oil rose $0.39 to $71.58 a barrel, the fall in the dollar helped commodity prices rise in the trading session.
Economic data released today: N/A
At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) shed 101.12 points, EOD 9,911.11
NYSE (New York Stock Exchange) shed 68.88, EOD 6,713.87
National Association of Securities Dealers Automated Quotations (NASDAQ) shed 15.33 points, EOD 2,125.79
S&P 500 (SPX) shed 9.57 points, EOD 1,056.62
BEL 20 (BEL20) gain 9.63 points, EOD 2,402.15
CAC 40 (CAC40) gain 43.51 points, EOD 3,607.27
FTSE100 (UKX100) gain 31.41 points, EOD 5,092.33
NIKKEI 225 (NIK/O) shed 105.27 points, EOD 9,951.82
New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,109 declined stock prices 1,993, unchanged stock prices 80, stock prices hitting new highs 33 and stock prices hitting new lows 15. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: HAS gain 3.91, HOD 35.19, LOD 33.53, EOD 34.71; LO shed 0.29, HOD 75.55, LOD 73.70, EOD 74.21; MA gain 5.65, HOD 228.46, LOD 220.17, EOD 226.39; FAS shed 3.68, HOD 65.97, LOD 61.70, EOD 61.82; CME shed 0.52, HOD 293.83, LOD 280.18, EOD 280.28; MON shed 2.53, HOD 76.74, LOD 74.06, EOD 74.21; POT shed 1.97, HOD 105.63, LOD 101.30, EOD 101.51; CGA shed 0.53, HOD 14.69, LOD 13.33, EOD 13.49; CNA shed 1.03, HOD 23.58, LOD 22.52, EOD 22.55.
National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 945, declined stock prices 1,723, unchanged stock prices 117, stock prices hitting new highs 27 and stock prices hitting new lows 30. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: AAPL shed 1.34, HOD 197.38, LOD 194.06, EOD 194.12; ISRG shed 1.46, HOD 328.69, LOD 321.96, EOD 323.95; OTEX gain 1.07, HOD 46.89, LOD 45.28, EOD 46.51; DBTK gain 0.24, HOD 8.53, LOD 8.16, EOD 8.46; STLD shed 0.14, HOD 15.20, LOD 14.45, EOD 14.85; MSTR gain 2.13, HOD 81.94, LOD 78.10, EOD 81.26; AMAG shed 1.10, HOD 40.15, LOD 36.38, EOD 36.67.
Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 226, declined stock prices 259, unchanged stock prices 55, stock prices hitting new highs 3 and stock prices hitting new lows 3.
Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1055.75; Change -4.00
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,736.50; Change -8.50
E-mini DOW $5 (YM) Mar 10: EOD 9,898; Change -43
E-mini S&P MidCap 400 (MF) Mar 10: EOD 692.10; Change 2.00
Nikkei 225 (Yen) Mar 10: EOD 9,870; Change -105
World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7321 U.S. Dollars 1.3659
Japanese Yen 89.3200 to U.S. Dollars 0.0112
British Pound 0.6412 to U.S. Dollars 1.5596
Canadian Dollar 1.0743 to U.S. Dollars 0.9308
Swiss Franc 1.0725 to U.S. Dollars 0.9324
COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (March 10) gain $0.68, EOD $71.87 per barrel ($US per barrel)
Heating Oil (March 10) gain $0.01, EOD $1.89 a gallon ($US per gallon)
Natural Gas (March 10) shed $0.11 EOD $5.41 per million BTU ($US per mmbtu.)
Unleaded Gas (March 10) gain $0.01 EOD $1.89 gallon ($US per gallon)
Metals Markets - Comex:
Gold (April 10) gain $13.20, EOD $1,066.00 ($US per Troy ounce)
Silver (March 10) gain $0.27, EOD $15.10 ($US per Troy ounce)
Platinum (April 10) gain $0.40, EOD $1,475.50 ($US per Troy ounce)
Copper (March 10) gain $0.07, EOD $2.93 ($US per pound)
Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (April 10) gain $2.05, EOD $68.78
Pork Bellies (May 10) gain $2.00, EOD $82.00
Live Cattle (April 10) gain $0.40, EOD $90.80
Feeder Cattle (March 10) gain $0.90, EOD $99.23
Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (March 10) gain $5.00, EOD $356.50
Soybeans (March 10) gain $18.50, EOD $929.50
BOND MARKET:
2 year EOD 100 6/32, change 0, Yield 0.77, Yield change 0.01
5 year EOD 99 30/32, change -3/32, Yield 2.26 Yield change 0.03
10 year EOD 98 10/32, change -3/32, Yield 3.57 Yield change 0.01
30 year EOD 97 25/32, change 7/32, Yield 4.51, change -0.01
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