The market's weakness at the open has persisted throughout the first half of the trading day. Let's take a look at what is moving following this morning's jobs report.
Upgrade Winners: Continental Airlines ( CAL), Energy Conversion Devices ( ENER), General Mills ( GIS) and ADTRAN ( ADTN). Fertilizer Plays: Potash ( POT) and CF Industries ( CF) are bucking the downtrend in other commodity areas. Ultrashort ETFs: Watching the SKF/SRS plays rise as well as ProShares UltraShort Oil & Gas ( DUG) Elan ( ELN): Receiving $1 Billion investment from Johnson & Johnson ( JNJ).
Analyst Downgrades: BJ Services ( BJS), Johnson Controls ( JCI) and Southwest Airlines ( LUV) are all lower. Earnings Misses/Warnings: Illumina ( ILMN) and Xilinx ( XLNX) are lower. Transports: FedEx ( FDX), Union Pacific ( UNP) and some truckers are lower. Financials: Goldman Sachs ( GS) and JP Morgan ( JPM) are not able to lead the sector higher and the group was also a non-factor Wednesday during the market's rally. Oil and Oil-related Plays: Oil ETF ( USO), Exxon Mobil ( XOM) and Transocean Ltd. ( RIG) are weak today. TiVo ( TIVO): Taking a hit after judge stays court decision against Echostar ( DISH). Sepracor Inc. ( SEPR): Shares are down over 15% after the Food and Drug Administration halted trials of Lunesta trials. Internet Giants: Amazon ( AMZN) and Google ( GOOG) are helping drag down the Nasdaq.
Shares of FSLR, which were down nearly $4 in the early going, have since bounced back. This is why I recommended moving the trailing stop lower to capture more of the profit. It should have been a good trade for readers. Gold ( GLD) is pulling back today and may be set to close the week slightly lower. Treasuries ( TLT) are up slightly and should end the week flat if we closed around these current levels. I will be looking for potentially more opportunities, but you have the key names to focus on above if you choose to venture out in a trade this afternoon. We may start to see some extra volatility with traders beginning to head out to the exits a bit early in front of the three-day holiday weekend.