Stocks to reopen Wednesday; Disney inks a big deal

Disney will buy Lucasfilm for $4.1 billion. The major exchanges say they can resume normal stock trading on Wednesday. Ford has decent results; GM's earnings are on tap. Apple has a big management shuffle. October may be a loser for investors.

By Charley Blaine Oct 30, 2012 5:13PM
Charley BlaineUpdated: 5:46 p.m. ET.

Trading in U.S. stocks will resume Wednesday with the major exchanges planning regular trading hours.

The open will feature market reaction to a blockbuster media deal. Walt Disney (DIS) said late today it will buy Lucasfilm in a $4.05 billion deal. The company will pay half of the purchase price in cash and issue close to 40 million shares at the closing for the balance. Lucasfilm is the production company of Star Wars director George Lucas.

The New York Stock Exchange, American Stock Exchange and Nasdaq system were closed Monday and again today as Hurricane Sandy slammed into New York and New Jersey, causing power outages, flooding and even fires. Some 38 deaths are attributed to the storm. The New York subway system experience widespread flooding in its tunnels.

Gold (-GC) and crude oil (-CL) traded in U.S. markets moved modestly higher. The national average retail price of gasoline fell to $3.534 today, according to AAA's Daily Fuel Gauge Report from $3.543 a gallon on Monday. The price has fallen 6.7% this month.

The market will reopen after struggling last week. The Dow Jones industrials ($INDU) fell 1.8%. The Standard & Poor's 500 Index ($INX) was off 1.5%, and the Nasdaq Composite Index ($COMPX) slipped 0.6%.

Article continues below.
When testing of generators and backup systems late Monday and today were successful,  the exchanges announced the reopening plans. Prices for stocks index futures trading moved higher in electronic trading today after falling on Monday. European markets were stronger.

There's been some decent data: Personal income was up in September; spending was up more, the government said Monday.

The S&P/Case-Shiller Home Price Index showed prices in 20 major markets rose 2% in August from August 2011, the biggest year-to-year gain in more than two years. The report suggested the housing recovery is advancing solidly.

But several big reports are ahead, especially the Labor Department's big jobs report due Friday.

Wednesday brings the ADP National Employment report and the Chicago Purchasing Managers Index. Thursday's reports include the weekly report on jobless claims and the Institute for Supply Management's U.S. manufacturing index.

When the markets do reopen, there will be some winners. Chief among them will be home-improvement retailers Home Depot (HD) and Lowe's (LOW). Both have been organizing inventory to sell once Sandy dissipates and rebuilding-and-repair efforts begin. Wal-Mart Stores (WMT), Target (TGT) and similar retailers should see more business from the rebuilding.

At the same time, property-casualty insurers are expected to be the losers, facing $5 billion to $10 billion in losses at the least.

Energy prices -- New York close



Tues.     Mon.

Month chg.

YTD chg.
Crude oil (-CL)

$85.68

$85.54

-7.06%

-13.31%
(per barrel)











Heating oil (-HO)

$3.0697

$3.0873

-2.83%

5.34%
(per gallon)











Natural gas (-NG)

$3.6910

$3.8030

11.17%

23.49%
(per mil. BTU)











Unleaded gasoline (-RB)

$2.6155

$2.6411

-10.43%

-1.58%
(per gallon)











Brent crude 

$108.86

$109.44

-0.63%

1.38%
(per barrel)











Retail gasoline

$3.5340

$3.5990

-6.68%

7.88%
(per gallon; AAA)













GM highlights Wednesday's reports; Ford has a decent quarter
General Motors
(GM) reports third-quarter results on Wednesday. It should report decent sales for North America and sizable losses from its European businesses. 

GM said today that its northeast U.S. vehicle sales will be hurt by the hurricane, although it did not provide a specific estimate.

Rival Ford Motor (F) reported decent results overall and especially for its North American business, which had its best third quarter even Its European business is struggling. The company announced it is shutting down plants in Belgium and the United Kingdom.

Chrysler CEO Sergio Marchionne assured workers in a company-wide letter that Jeep assembly lines will remain in the U.S. after ads from the Mitt Romney campaign airing in hotly contested Ohio focused on the automaker's supposed desire to move production to China. A Chrysler blog post highlights details on its expansion plan in the U.S.

Also reporting: brewing-giant Anheuser Busch Inbev (BUD); Hyatt Hotels (H); credit-card processors Master Card (MA) and Visa (V), Metlife (MET), Ralph Lauren (RL) and gun-maker Strum, Ruger (RGR).

Apple turmoil may lead to stock gyrations
Apple
(AAPL) may have a volatile day after reports that Scott Forstall, a key executive, was asked to leave the company after refusing apologizing for shortcomings in Apple's new mapping service.

The Wall Street Journal said the dispute between Forstall, who had been in charge of Apple's mobile business, led to one of the most significant management shake-ups in Apple's recent history and its most sweeping changes under CEO Tim Cook.

Apple announced Forstall's departure late Monday along with the departure of its new retail chief, John Browett. Sources told the Journal that Browett, who had joined the company only five months ago, was also asked to leave.


Brown's tenure was rocky from the start, The Journal said. A big issue was a new staffing formula that cut some employee hours. Apple may be up 49% for the year, but it's down 14% since peaking at $702.10 on Sept. 19.

A crummy October
Stocks had been struggling before the storm. The Dow is down 2.5% for the month. The S&P 500 is off 2%, and the Nasdaq  has dropped off 4.1%. 

If the indexes hold at current levels, the indexes will be down for the first time in five months. In the addition, the the Dow will be down for only the second month this year. The S&P 500 and Nasdaq will be down for just the third month.

Twelve of the 30 Dow stocks are higher, led by Travelers Companies (TRV), Bank of America (BAC) and Johnson & Johnson (JNJ). Hewlett-Packard (HPQ), DuPont (DD) and Cisco Systems (CSCO) are the laggards.

Coal-producer Peabody Energy (BTU), Netflix (NFLX) and coal-producer Consol Energy (CNX) are the S&P 500 leaders. Some 336 S&P 500 stocks are up for the month. Advanced Micro Devices, Mondelez International (MDLZ) and F5 Networks (FFIV) are the laggards.

Only 34 stocks in the Nasdaq-100 Index ($NDX) are higher for the month, led by Netflix (NFLX),  Sears Holdings (SHLD) and Lam Research (LRSX). For-profit college operator Apollo Group (APOL), F5 Networks and Dollar Tree (DLTR) are the laggards.

Short hits from the markets -- New York close



Tues.

Mon.

Month chg.

YTD chg.
Treasury yields











13-week Treasury bill

0.1100%

0.110%

22.22%

1000.00%
5-year Treasury note 

0.761%

0.761%

20.79%

-8.31%
10-year Treasury note

1.750%

1.750%

6.90%

-6.47%
30-year Treasury bond

2.918%

2.918%

-3.76%

1.00%
Currencies











U.S. Dollar Index

79.987

80.318

-0.05%

-0.66%
British pound

1.6080

1.6036

-0.50%

3.49%
(in U.S. $)

 








U.S. $ in pounds

£0.622

£0.624

0.50%

-3.37%
Euro in dollars

$1.30

$1.29

0.92%

0.12%
(in U.S. $)

 








U.S. $ in euros

€ 0.771

€ 0.775

-0.91%

-0.12%
U.S. $ in yen 

79.81

79.80

2.36%

3.51%
U.S. $ in Chinese

6.26

6.24

-0.31%

-1.02%
yuan











Canada dollar

$1.001

$0.999

-1.53%

2.04%
(in U.S. $)

 








U.S. dollar 

$1.000

$1.001

1.63%

-2.01%
(in Canadian $)

 








Commodities

 

 

 

 
Gold (-GC)

$1,712.10

$1,708.700

-3.48%

9.27%
(per troy ounce)

 








Copper (-HG)

$3.506

$3.495

-6.71%

2.04%
(per pound)

 








Silver (-SI)

$31.8160

$31.745

-7.99%

13.97%
(per troy ounce)

 








Wheat (-ZW)

$8.5875

$8.580

-4.85%

31.56%
(per bushel)

 








Corn (-ZC)

$7.4175

$7.370

-1.92%

14.73%
(per bushel)

 








Cotton 

$0.7092

$0.726

0.38%

-22.64%
(per pound)

 








Coffee

$1.5720

$1.617

-9.39%

-31.55%
(per pound)

 








Crude oil (-CL)

$85.68

$85.540

-7.06%

-13.31%
(per barrel)










 

78Comments
Oct 30, 2012 6:39PM
avatar

seeing how it's post-Sandy time, and pre-election time, how about we all give some whole blood? 

 

it's my low budget health program.  i dump a pint every 2 or 3 months.  i know whatever cholesterol i might have is deleted from MY body and the next guy likely will not be in a position to fuss about getting it.....

 

seriously.  give blood! 

Oct 30, 2012 5:57PM
avatar
TO ALL:

God Bless America...and People, if you have only learned
one thing from all the organized religions, its the ultimate
commandment- TAKE CARE OF EACH OTHER.

Have you given to Red Cross, earmarked "Sandy" yet?
Please do.                 Thank you.....

Oct 30, 2012 9:32PM
avatar

I am going in the business to sell ink to the tattoo parlor....

Yes, Obama is promoting teens with tatto to have sex with someone who has 'OBAMACARE" and will provide the "morning after pill"...........and then what will happened.......YOU WILL PAY FOR IT....

Oct 30, 2012 6:36PM
avatar

My Grandson is in Brooklyn for the last 6 months....

Said he is doing okay, flooding and some trees down.

But he comes from tough stock..And the Midwest.

Oct 30, 2012 6:31PM
avatar
A might bit late today, eh Charley.??
Oct 30, 2012 9:06PM
avatar

What happened to the Liberal HERO..........Obummer who promised to lower the ocean level.,..........

huh?

Oh Yeah, Oh Yeah, he prefers to take care of the Libs/Dems NewYorkers than the BENGHAZI AMBASSADOR AND THE OTHER AMERICANS WHO HIS MAJESTY LET HIS BROTHERS ....THE MUSLIMS KILLED OUR FELLOW CITIZENS...

 

IN OTHER WORDS...........WHAT CAN THE STUPID O'BUMMER DO AGAINST MOTHER NATURE.........??????????

Oct 30, 2012 6:57PM
avatar

Yeah I seen the Red Cross calling for  blood, think it might be "modus operandi" anytime a disaster strikes.....In the U.S. or nearby....But they can always use it..

Heart patient, but got my 3 gallon pin before I quit giving....

Mom got me started when I was young....One of her passions, Red Cross. 

Oct 31, 2012 10:21AM
avatar
We are open again....Will be a volatile morning, the whole day probably....Not everything working properly down here yet....Don't get too excited about being up 80 points....Be cautious today, low volume, and manipulators did not drown unfortunately....We gave back a lot of the gains already...Just be careful...More later.
Oct 31, 2012 11:08AM
avatar
Well, if we were not here looking at things as they happen it would be hard to believe, even comical....The scumbags that unfortunately not drown these last 2 days are again doing their thing...At 1035 hrs they called for the first wave of selling of the day and down the crapper we go....Again, with this low volume and that many manipulators on and off the floor its hard to keep things going...Oh well, we will see what this afternoon brings us...So sad.
Oct 30, 2012 7:49PM
avatar

We see so much maligning in the world, in politics, in the way we treat each other, but the real foe at times in mother nature herself...this is where we need to expend our energy and come together as a "planet"...we never know when we will need each other.  Michael

Oct 30, 2012 6:38PM
Oct 31, 2012 1:26AM
avatar

Looking at the Dow, Dec Daily Chart, the 20 day moving average is down another 19 points, it's been averaging about 18 per day.  Both the top and bottom Bollinger Bands are now falling, indicating price should fall.  What I see from the formation, it hasn't made much of a Wave 4, should at least retrace to 13,155 (38%) before falling.  Commodity Channel is rising, maybe today it will retrace upward.

 

Trend is still a SELL, according to formation is ready for Wave 5 downward. 

 

Dec Daily Chart in Crude Oil, the 20 day moving average conitunues to fall and both the Daily & Monthly Bollinger Bands are diverging, meaning Oil is definitely in a SELL posture.

Oct 30, 2012 8:04PM
avatar

FEMA: Federal Emergency Management Agency.  

AMEA: American Military Emergency Assistance.

 

We don't always need an Agency whose sole function is Emergency Management. We do need some functional assistance in emergency situations. I dealt with a Business Proposal once that focused on Emergency Preparedness by maintaining certain generalized equipment where it might see regular or frequent use, thereby be updated by necessity rather than antiquity. The Phase II and III equipment is regionally based along with trained personnel. The "team" the entity put together all had military and/or emergency experience. It seems to me that we would be wrong to eliminate FEMA but more fiscally responsible to incorporate it as AMEA into another fiscal area and work to keep it streamlined and efficient.

Oct 31, 2012 1:13PM
avatar

good old Rush Limbaugh spending his morning talking about New Jersey as if they are all "1 percenters" along the beach. 

 

having grown up in the area, the regions hit are FAR from the "1 percenters".

 

he's once again showing extreme ignorance.  he'll first declare these beach area people as "1 percenters", be unchallenged in his show, and proceed to spout off as if he knows what he's talking about. 

 

saddly, much of the nation - especially the midwest - are so far removed from his areas of topics they simply take his word and form their opinions based on his word. 

 

and so 'ditto heads' are born and nurtured. 

Oct 31, 2012 1:53PM
avatar
Well, things havent changed a whole lot other than at 1200 hrs they called to accelerate the selling....A bit over 2 hours to go, expect more volatility....Nothing we can do with these cheating crooks...They will try to bring us down a lot more,,,Better believe that.
Oct 30, 2012 9:03PM
avatar

Why is the man such a habitual liar...And flip flops continually...Always changes to the populist side at the drop of hat...

Never seems to have a true direction or even a path to follow...

 

I don't really care for either person running for President or Re-election.

But what's worst how can anyone except what Romney really stands for or even know ???

Oct 31, 2012 10:07AM
avatar
WHERE WAS ROMNEY? WHERE WAS THE PARTY OF NO IN CONGRESS? America watched and waited but it's a foregone conclusion that Republicans for New World Order and NOT for America is no illusion. Romney's back on the campaign trail for what? You're a DEADBEAT, Mitt. The President will spend at least another day making sure the country is alright. THAT is leadership. Republicans are NOT leaders, they are bleeders sucking off the American Worker teet.

NO REPUBLICANS. Don't vote them in, vote the ones in-- OUT.

Oct 30, 2012 8:49PM
avatar

I agree that October may be  a bad month for investors. No good news with do nothing Congress but please explain this to me somebody. I have a question about race relations. The year is 2012. We have an intelligent black President. We have young white girls with black boyfriends. We have Pell grants, opportunity in the military, opportunity to attend community college or college, freedom to travel, freedom to start a business. We have hope. Just why is it that every time we have a natural disaster be it LA Riots, flooding of New Orleans, this Hurricane, you always see black faces looting, stealing and assaulting police officers? What does this say about 2012 and how far we still have to go before we are all on the same page and respecting one another? Religion seems to have failed. The GOP lost the drug war, failed to enforce our borders, failed to control the emergence of gangs and organized crime. What can we do to get the message across to those who would commit such crimes that we are tired of it all? Move forward.

Oct 30, 2012 7:37PM
avatar
Headline: 
6:17 PM ET at Bloomberg

THANK YOU B of A .  Maybe its not too late to infuse corporate America with a conscience.

Oct 31, 2012 11:52AM
avatar
"Well, if we were not here looking at things as they happen it would be hard to believe, even comical....The scumbags that unfortunately not drown these last 2 days are again doing their thing..."

You need to stop calling the general public- scumbags and make sure you grasp that Goldman Sachs has manipulated America into the worst most precarious financial condition in it's history. What we all saw this morning was cumulative lift from two days of backroom bank negotiations with the Fed. What we are seeing now is the Reality and gravity of hired-in executives, who, for just two extra days after a weekend, couldn't keep what they've run into the ground... running. No scumbags or manipulators out here, but a number of agencies are confirming the BLOCKADE of viable skilled experienced and able people from jobs they should be doing. It doesn't take a rocket scientist to tie that to major Republican & GOP Super PAC contributors. Goldman Sachs has already admitted to massive contributions and a FALSE CLAIM that We the People are not counted in the election of the President, just bought and paid-for bureaucrats. The markets are dead, freedom and free enterprise are not. Republicans are manipulators but they won't be in control much longer... in GITMO, but in control? Not.
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