This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

[video] Stocks Mixed as Oil Drops

The video that this transcript is based on appeared on November 25.

NEW YORK ( TheStreet) -- A drop in oil prices is not enough to sustain early stock buying. Alpine's Peter Kovalski talks financials.

VIDEO TRANSCRIPT:

Welcome to after-hours action I'm Gregg Greenberg from TheStreet. US stocks started the short trading week mixed as the parent nuclear deal with Iran took some the froth of crude thereby bolstering the global economic outlook. Let's wrap up the market the S&P closed down two points on the DOW is a 8 to 16,000 72 the Nasdaq points higher at $39.95. Oil which spurred buying in the morning was down 66 cents to 94 20 barrel. As for individual stocks Alcoa was up 4 percent to 960, as Goldman Sachs raise the shares to a buy from hold. Based on its exposure to the aerospace and automotive industries. Goldman's analyst races when your target to 11 from 8, and Burger King shares finished 2.5 percent higher after the fast food franchise also got a vote of confidence from Goldman Sachs which initiated coverage with a Buy rating of forecasting annual earnings what 18 percent to 20 percent. Finally shares of Wal-Mart finished up 80 basis points today the world's largest retailer named Doug McMillon as its next chief executive officer a Wal-Mart life for Macmillan was widely predicted to succeed CEO Mike Duke.

Now financial stocks have been huge gainers in 2013 the SB financial sector ETF the XLF is up 31 percent this year compared to the overall S&P which is up 27 percent. If you've been a Peter Kovalski's Alpine Financial Services fund however you be doing even better up 38 percent year-to-date. Earlier today I asked Peter Kovalski's for his 2014 outlook and to name his paper financial stocks.

Peter Kovalski's: financial such a fantastic year 2013 what makes you think they can do it again next year?

Must Read: [video] Xbox One Pre-Orders Beat Playstation 4

The sector is very economically sensitive, so I have a view that the economy is slowly coming out of its recession as it picks up steam that should be more beneficial for the financial sector in increasing their profitability.

One stock you like as Blackstone has the private equity industry learn something from the credit bubble blacks on stocks up eighty percent this year so obviously they do pretty well.

Well Blackstone and its peers came public around the top the last IPO market so I don't think history has really seen the true operating leverage that these companies have and due to the performance fees and the have ability to raise capital right now other one other few sectors within the as asset management area that's really been growing organically through attracting additional investment so I think where you're going but the street will be a surprise that is I think estimates will move kid will move up if we get into a more robust IPO market.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $125.42 0.72%
FB $85.76 -0.04%
GOOG $520.51 -0.19%
TSLA $268.26 2.38%
YHOO $39.29 0.98%

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.12 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs