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Schaeffer's S&P 500 Index Hot Stocks Recap: February 10, 2006

Strategic Insights

— 1 min read

Aon Corporation (NYSE:AOC), Allied Waste Industries (NYSE:AW), Apollo Group (NASDAQ:APOL), Sunoco (NYSE:SUN), and Phelps Dodge (NYSE:PD) were among the top performers in the S&P 500 Index on February 10, 2006, according to Schaeffer's S&P 500 Index Hot Stocks. The companies' strong earnings reports and analyst coverage drove their stocks upwards, with Aon and Allied Waste Industries experiencing significant gains.

Key Takeaways:

  • Aon Corporation (NYSE:AOC) reported fourth-quarter net income of $224 million, a 175% increase from the year-ago period, with quarterly revenue of $2.53 billion.
  • Allied Waste Industries (NYSE:AW) saw its profits quadruple, with net income of $51.9 million, or 15 cents per share, compared to $12 million, or four cents per share, for the same period a year ago.
  • Apollo Group (NASDAQ:APOL) gapped higher on the open after Citigroup started coverage at "buy," resulting in significant gains throughout the trading day.
  • Sunoco (NYSE:SUN) fell below the 75 level, a region it had left behind in November, with a high likelihood of ending the week below its support levels.
  • Phelps Dodge (NYSE:PD) was downgraded by Prudential to "neutral" from "overweight," causing the stock to gap lower, but it stabilized on support at the 140 level.

Statistics:

  • 295 out of 500 S&P 500 Index components (59%) advanced on February 10, 2006.
  • The S&P 500 Index (SPX) was 0.26% higher.
  • Aon Corporation's (NYSE:AOC) quarterly revenue was $2.53 billion, with a year-over-year increase of 3.08%.
  • Allied Waste Industries' (NYSE:AW) revenue rose 5.9% to $1.47 billion from $1.39 billion.

Sources:

  • Schaeffer's S&P 500 Index Hot Stocks, February 10, 2006
  • Schaeffer's S&P 500 Index Hot Stocks, Friday, February 10, 2006
  • SchaeffersResearch.com
  • Bernie Schaeffer's Option Advisor
  • Forbes
  • Barron's

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