Stocks in Focus: August 21, 2006 - Schaeffer's S&P 500 Index Hot Stocks

Strategic Insights -

The August 21 edition of Schaeffer's S&P 500 Index Hot Stocks highlights the performance of top-20 and bottom-20 stocks in the S&P 500 Index, with Freeport-McMoRan Copper & Gold, Newmont Mining, Ashland, Ford Motor, and Lowe's Companies being featured. The article discusses the shift in stocks on the back of weaker-than-expected earnings news and renewed strength in the oil patch, with mining stocks leading the rally. The report also touches on the decline of Ashland, Ford Motor, and Lowe's Companies.

Key Takeaways:

  • Freeport-McMoRan Copper & Gold (FCX) has jumped 4.6 percent on the session, while Newmont Mining (NEM) is up almost 3.5 percent, as mining stocks lead the rally.
  • Ashland (ASH) has retreated 4.6 percent on news that it has agreed to sell its Ashland Paving and Construction unit to Oldcastle Materials for $1.3 billion.
  • Ford Motor (F) has relinquished nearly five percent this afternoon following a downgrade by Credit Suisse to "underperform" from "neutral."
  • Lowe's Companies (LOW) reported a second-quarter earnings of $935 million, or 60 cents per share, as sales climbed 12 percent to $13.39 billion.
  • The S&P 500 Index (SPX) has slipped 0.42 percent this afternoon, as only 166 of its 500 components currently rest in positive territory.
  • Stock prices have shifted lower today on the back of some weaker-than-expected earnings news and renewed strength in the oil patch.
  • Among mining stocks, other commodity-related gainers include members of the energy sector, such as Marathon Oil (MRO) and Murphy Oil (MUR).
  • According to the report, December gold rose $13.50 to close at $635.20 an ounce, with the yellow metal notching its highest close since Wednesday.

Statistics:

  • Freeport-McMoRan Copper & Gold (FCX) has seen a 4.6 percent increase on the session.
  • Newmont Mining (NEM) is up almost 3.5 percent.
  • Ashland (ASH) has retreated 4.6 percent.
  • Ford Motor (F) has relinquished nearly five percent.
  • Lowe's Companies (LOW) has reported a second-quarter earnings of $935 million, or 60 cents per share.
  • S&P 500 Index (SPX) has slipped 0.42 percent.
  • 166 of the 500 S&P 500 Index components are currently in positive territory.
  • December gold rose $13.50 to close at $635.20 an ounce.
  • September silver climbed 31.5 cents to end at $12.345 an ounce.
  • September copper jumped 8.5 cents to finish at $3.5195 a pound.

Sources:

  • Schaeffer's S&P 500 Index Hot Stocks, August 21, 2006
  • http://www.schaeffersresearch.com/redirect.aspx?CODE=PRSHS13M&PAGE=1
  • Schaeffer's Investment Research (www.SchaeffersResearch.com)