|Day Low/High||39.74 / 40.26|
|52 Wk Low/High||33.98 / 52.45|
We'll add to two names that missed earnings and trim one ahead of its report.
This earnings season, financials, tech, industrials and materials are leading the field.
We also pare back shares in a financial holding and exposure to housing.
Margins were a bright spot, but lowered guidance is pressuring the stock.
We disagree with this downgrade, so we're adding to this clothing retailer -- and trimming two positions to fund the trade.
Investors will be watching earnings carefully, and we will look to add quality stocks and themes on weakness.
Timken Company (NYSE:TKR) hit a new 52-week high Friday as it is currently trading at $59.60, above its previous 52-week high of $59.44 with 58,511 shares traded as of 9:56 a.m. ET. Average volume has been 714,300 shares over the past 30 days.
The portfolio remains overweight cyclicals that are leveraged to recovery in the U.S. and Europe.
We made several changes this week and put a lot of built-up cash into the market on the declines.
Timken Company (NYSE:TKR) hit a new 52-week high Tuesday as it is currently trading at $58.88, above its previous 52-week high of $58.85 with 116,491 shares traded as of 1:01 p.m. ET. Average volume has been 678,800 shares over the past 30 days.
Timken Company (NYSE:TKR) hit a new 52-week high Tuesday as it is currently trading at $58.71, above its previous 52-week high of $58.60 with 520,241 shares traded as of 11:41 a.m. ET. Average volume has been 675,500 shares over the past 30 days.
This portfolio holding is now looking into spinning out one of its businesses, among other things.
Timken will consider a breakup, heeding Relational Investors' shareholder proposal.
We added to financials and tech and reduced exposure to healthcare and energy.
We're initiating a carmaker as another play on the auto cycle -- and moving the rating down on this pharma holding.
We plan to continue building up our financial and technology positions over the coming weeks.
BGB LNN TKR IVZ CF are going ex-dividend tomorrow, May 15, 2013
The ex-dividend date for Timken Company (NYSE:TKR) is tomorrow, May 15, 2013. Owners of shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $56.68 as of 9:30 a.m., the dividend yield is 1.6%.
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