NextEra gains but South Florida stocks fall

The market for April 2

DELRAY BEACH — More evidence that economy continues to recovery, albeit at a modest pace, helped lift stocks Tuesday.

The Dow Jones industrial average gained 89.16 points, or 0.61 percent, to close the day at 14,662.01; the Nasdaq composite index gained 15.69 points, or 0.48 percent, to close at 3,254.86; the S&P 500 gained 8.08 points, or 0.52 percent, to 1,570.25.

The Wilshire 5000 total market index gained 53.05 points, or 0.32 percent, to close at 16,560.12.

South Florida stocks slipped 3.80 points, or 0.31 percent, to finish at 1,208.73; 15 of the 30 stocks advanced on the day. NextEra Energy gained 68 cents to $78.16; AutoNation gained 65 cents to $44.09; SBA Communications gained 48 cents to $72.58; Heico fell $1.06 to $42.11; Mednax fell 87 cents to $88.64; Ultimate Software fell 75 cents to $101.89.

Among Palm Beach stocks, BE Aerospace gained a dime to $59.20; Cross Country Healthcare gained 7 cents to $5.42; QEP fell 75 cents to $17.00; Ocwen fell 50 cents to $37.13.

The Commerce Department said factory orders increased 3 percent in February, greater than expected. The report follows release of the ISM’s manufacturing index showing the sector expanding but at a slower-than-expected pace.

Crude oil gained 12 cents to $97.19 a barrel; gasoline futures fell 4.75 cents to $3.0542 a gallon.

Ultimate Software lifts South Florida to record high

The market for March 28

DELRAY BEACH — The Commerce Department reported Thursday that economy didn’t suck as much we originally believed during the fourth quarter of 2012, and that was enough to boost stocks.

The Dow Jones industrial average gained 52.38 points, or 0.36 percent, to close the day at 14,578.54; the Nasdaq composite index gained 11.00 points, or 0.38 percent, to 3,267.52; the S&P 500 gained 6.34 points, or 0.41 percent, to close at 1,569.15. The S&P’s close was its all-time high.

The Wilshire 5000 total market index also set a new high, closing at 16.598.26, up 67.26 points, or 0.41 percent.

As did the Palm Beach Business.com’s South Florida Portfolio, closing at 1,226.19, up 7.01 points, or 0.57 percent; 17 of the 30 portfolio members advanced on the day. Ultimate Software gained $1.19 to $104.16; BE Aerospace gained a buck to $60.21; GEO Group gained 97 cents to $37.62; Elizabeth Arden fell 64 cents to $40.25; Heico fell 46 cents to $43.41; Lennar fell 31 cents to $41.48.

Among Palm Beach stocks, NextEra Energy gained 80 cents to $77.68; QEP gained 25 cents to $17.75; SBA Communications fell 29 cents to $72.00; Cross Country Healthcare fell 9 cents to $5.31.

The Commerce Department said fourth quarter gross domestic product grew at a 0.4 percent annualized rate during the fourth quarter, up from 0.1 percent reported in February and a decline originally reported in January.

Crude oil rose 65 cents to $97.23 a barrel; gasoline futures dropped 1.01 cents to $3.1054 a gallon.

Ultimate Software leads South Florida rally

The market for March 27

DELRAY BEACH — Wall Street’s majors finished modestly mixed, while South Florida stock posted a modest gain. Cyprus and a key housing report provided the drag on the market.

The Dow Jones industrial average fell 33.49 points, or 0.23 percent, to close at 14,526.16; the Nasdaq composite index gained 4.04 points, or 0.12 percent, to 3,256.52; the S&P 500 fell 0.92 point, or 0.06 percent, to 1,562.85.

The Wilshire 5000 total market index dropped 2.04 points, or 0.01 percent, to 16,531.00.

South Florida stocks gained 1.82 points, or 0.15 percent, to 1,219.18; 14 of the 30 portfolio members advanced on the day. Ultimate Software gained $1.23 to $102.97; Ocwen gained $1.08 to $38; Mednax gained 94 cents to $89.33; Ryder fell 79 cents to $59.40; Mastec fell 49 cents to $29.27; Dycom fell 45 cents to $19.65.

Among Palm Beach stocks, SBA Communications gained 47 cents to $72.29; QEP gained 21 cents to $17.50; NextEra Energy fell 29 centst o $76.88; Bankrate fell 22 cents to $11.88.

The National Association of Realtors’ pending home sales index fell 0.4 point to a February reading of 104.8.

Crude oil gained 24 cents to $96.58 a barrel; gasoline futures gained 0.49 cent to $3.1155 a gallon.

Citrix sinks and so do South Florida stocks

DELRAY BEACH — Cyprus again causes the market takes a dip.

The Dow Jones industrial average fell 64.28 poitns, or 0.44 percent, to close Monday at 14,447.75; the Nasdaq composite index slipped 9.70 points, or 0.30 percent, to 3,235.30; the S&P 500 fell 5.20 points, or 0.33 percent, to 1,551.69.

The Wilshire 5000 total market index dropped 46.92 points, or 0.29 percent, to close at 16,414.60.

South Florida stocks dropped 2.28 points, or 0.19 percent to finish the day at 1,211.74; 10 of the 30 portfolio stocks advanced on the day. Ocwen gained 83 cents to $35.82; Elizabeth Arden gained 70 cents to $39.32; Ultimate Software gained 26 cents to $102.05; Citrix fell 90 cents to $70.11; Watsco fell 74 cents to $83.12; Lennar fell56 cents to $41.56.

 

Among Palm Beach stocks, GEO gained 4 cents to $36.56; Bluegreen gained 3 cents to $9.89; Bankrate fell 31 cents to $12.31; BE Aerospace fell 13 cents to $59.12.

Crude oil gained $1.10 to $94.81 a barrel; gasoline futures roles 0.76 cent to $3.0626 a gallon.

Ryder rally leads South Florida

The market for March 22

DELRAY BEACH — Cyprus still lingered out there as an issue Friday but the investing world tended to ignore it as stocks recovered a chunk of Thursday’s losses.

The Dow Jones industrial average gained 90.54 points, or 0.63 percent, to close the week at 14,512.03; the Nasdaq composite index gained 22.40 points, or 0.70 percent, to 3,245.00; the S&P 500 gained 11.09 points, or 0.78 percent, to 1,556.89.

The Wilshire 5000 total market index gained 103.98, or 0.64 percent, to 16,461.52.

South Florida stocks didn’t quite enjoy Friday’s rally to the same extent as the market as a whole, picking up 2.37 points, or 0.20 percent, to close at 1,214.02; the portfolio split down the middle with half its members posting gains, half losing ground. Ryder gained $1.87 to $60.08; SBA Communications gained 81 cents to $71.90; NextEra Energy gained 58 cents to $76.17; Citrix fell $1.00 to $71.01; Ocwen fell 64 cents to $34.99; Ultimate Software fell 61 cents to $101.79.

Among Palm Beach stocks, Airspan Networks gained 70 cents to $3.70; GEO Group gained 28 cents to $76.17; Ocwen fell 64 cents to $34.99; BE Aerospace fell 28 cents to $59.25.

Crude oil rose $1.26 to $93.71 a barrel, while gasoline futures fell 2.03 cents to $3.053 a gallon.

Perry Ellis posts strong gains but South Florida stocks tumble

The market for March 21

DELRAY BEACH — Stocks fell Thursday despite some strong economic reports, as investors focused on the potential for default in Cyprus and quarterly numbers from Oracle that fell short of expectations.

The Dow Jones industrial average fell 90.21 points, or 0.62 percent, to close the day at 14,421.49; the Nasdaq composite index fell 31.59 points, or 0.97 percent, to 3,222.60; the S&P 500 fell 12.91 points, or 0.83 percent, to close at 1,545.80.

The Wilshire 5000 total market index dropped 131.29 points, or 0.80 percent, to 16,357.58.

South Florida stocks lost 7.56 points, or 0.62 percent, to 1,211.65; only four of the 30 portfolio members managed gains on the day. Perry Ellis gained $1.11 to $18.51; BankUnited gained 46 cents to $25.73; Mednax gained 9 cents to $87.67; Ryder fell $1.38 to $58.21; Heico fell $1.29 to $44.32; Ocwen fell $1.03 to $35.63.

The National Association of Realtors said home sales in February rose 0.8 percent to an annualized rate of 4.9 million, while the median price increased 11.3 percent to $173,800. The Labor Department said initial claims for unemployment rose last week by 2,000 to 336,000 but the moving four-week average dropped by more than 7,000 to 339,750, the lowest total in five years.

Airspan Networks gained 20 cents to $3.00; Hollywood Media gained 3 cents to $1.32; BE Aerospace fell 75 cents to $59.53;  Dycom fell 23 cents to $30.17.

Crude oil dropped $1.05 to $92.45 a barrel; gasoline futures dropped 4.57 cents to $3.0706 a gallon.

Citrix, Carnival take hits, South Florida sinks

The market for March 18

DELRAY BEACH — Weird but true. Concerns over the stability of Cyprus’ banking system and the island-nation’s potential for default sent stocks Monday into a bit of a funk.

The Dow Jones industrial average fell 62.05 points, or 0.45 percent, to close the day at 14,452.06; the Nasdaq composite index fell 11.48 points, or 0.35 percent, to 3,237.59; the S&P 500 slipped 8.60 points, or 0.55 percent, to 1,552.10.

The Wilshire 5000 total market index fell 88.28 points, or 0.54 percent, to 16,410.40.

South Florida stocks fell as well, down 7.36 points, or 0.60 percent, to 1,209.79; 10 of the 30 stocks advanced on the day. Spirit Airline gained 65 cents to $25.38; BankUnited gained 16 cents to $24.99; Citrix fell $1.60 to $72.19; Carnival fell $1.03 to $33.92; Elizabeth Arden fell $1.02 to $38.39.

Among Palm Beach stocks, QEP gained $1.49 to $17.49; BE Aerospace gained 15 cents to $59.43; Ocwen fell 65 cents to $38.79; SBA Communications fell 47 cents to $70.75.

The National Association of Home Builders confidence index fell 2 points to a reading of 44; any reading below 50 indicates a contracting industry sector.

Crude oil gained 29 cents to $93.74 a barrel; gasoline futures fell 3.49 cents to $3.1289 a gallon.

Citrix, Ocwen take hits, South Florida stocks drop.

The market for March 15

DELRAY BEACH — It had to come to end sometime. The Dow’s record-setting spree ended Friday as an unexpectedly sharp drop in consumer confidence dashed Wall Street’s confidence a tad.

The Dow Jones industrial average dropped — yes dropped — 25.03 points, or 0.18 percent, to close the week at 14,514.11, exactly 25.03 points short of its all-time high. The loss snapped a 10-day winning streak for the blue chip index, its longest in nearly 17 years, The Nasdaq composite index dropped 9.86 points, or 0.30 percent, to close at 3,249.07; the S&P 500 fell 2.53 points, or 0.16 percent, to 1,460.70.

The Wilshire 5000 total market index fell 29.14 points, or 0.18 percent, to close at 16,498.68.

South Florida stocks dropped 4.79 points, or 0.39 percent, to finish at 1,217.15; 9 of the 30 portfolio stocks advanced on the day. Watsco gained 91 cents to $82.35; World Fuel gained 74 cents to $39.58; BE Aerospace gained 50 cents to $59.27; Citrix fell $1.36 to $73.79; Ocwen fell $1.22 to $39.44; Carnival fell 78 cents to $34.95.

Among Palm Beach stocks, Airspan Networks fell 80 cents to $2.30; NextEra Energy fell 46 cents to $74.47; SBA Communications fell 65 cents to $71.22; Dycom fell 44 cents to $21.07.

The Federal Reserve reported that industrial production increased 0.7 percent in February, more than expected, and underscoring the role manufacturing has played in powering the recover. However, the preliminary Reuters/University of Michigan consumer sentiment index for March dropped to 71.8, its lowest reading since late 2011. The reason for the drop in a word: sequester.

Crude oil rose 42 cents to $93.45 a barrel; gasoline futures gained 2.25 cents to $3.1638 a gallon.

 

Heico powers South Florida into the black

The market for March 11

DELRAY BEACH — And now it’s the S&P’s turn to break it’s all-time high as stocks continue to rally Monday.

The Dow Jones industrial record picked up 50.22 points, or 0.35 percent, to close at 14,447.29, surpassing the high set Friday (yawn); the Nasdaq composite index gained 8.50 points, or 0.26 percent, to close at 3,252.87; the S&P 500 gained 5.04 points, or 0.32 percent, to 1,556.22 — less than 10 points short of its record high.

The Wilshire 5000 total market index gained 45.62 points, or 0.28 percent, to close at 15,443.60.

South Florida stocks set another record (of course) closing at 1,212.23, up 0.23 point, or 0.02 percent. Heico gained 83 cents to $44.99; Royal Caribbean gained 52 cents to $33.83; BE Aerospace gained 52 cents to $57.02; Ultimate Software fell 73 cents to $101.04; Autonation fell 34 cents to $44.35.

Among Palm Beach stocks, Ocwen gained 4 cents to $40.46; Hollywood Media gained 3 cents to $1.36; Dycom fell 26 cents to $21.36; SBA Communications fell 26 cents to $73.06.

Crude oil gained 11 cents to $92.06 a barrel; gasoline futures fell 5.11 cents to $3.1524.

Watsco continues to push higher; South Florida sets record

The market for March 8

DELRAY BEACH — The strong job numbers released Friday pushed stocks to yet another record high while elevating energy prices and interest rates.

The Dow Jones industrial average closed at 14,397.07, up 67.58 points, or 0.47 percent. It was the fourth consecutive record high for the Dow. The Nasdaq composite index gained 12.28 points, or 0.36 percent, to close at 3,244.37; the S&P 500 gained 6.92 points, or 0.45 percent, to 1,551.18.

The Wilshire 5000 total market index also set a new record, closing at 16,397.98, up 81.49 points, or 0.50 percent.

And joining the party, South Florida stocks also set a record high, closing at 1,212.01, up 5.77 points, or 0.48 percent; 21 of the 30 portfolio stocks advanced on the day. Watsco gained $1.33 to $81.08; BE Aerospace gained $1.21 to $6.50; Ultimate Software gained $1.18 to $101.77; Royal Caribbean fell $1.04 to $33.31; BankUnited fell 80 cents to $25.28; Carnival Corp. fell 57 cents to $35.67. Both Royal Caribbean and Carnival were affected by an outbreak of what appears to be the norovirus on one of Royal’s cruise ships.

Among Palm Beach stocks, Dycom gained 42 cents to $21.62; Airspan Networks gained 35 cents to $1.65; Ocwen fell 37 cents to $40.42; Cross Country Healthcare fell 6 cents to $6.06.

The Labor Department reported that employers added 236,000 jobs in February, the most in a year, while the jobless rate dropped to 7.7 percent from January’s 7.9 percent. The Commerce Department said wholesale inventories rose 1.2 percent in January.

Crude oil rose 39 cents to $91.95 a barrel, while gasoline futures rose 8.02 cents to $3.2035 a gallon.

Watsco leads as South Florida stocks inch higher

The market for March 7

DELRAY BEACH — Another day, another record for the Dow. More positives on the economy certainly helped the cause.

The Dow Jones industrial average gained 33.25 points, or 0.23 percent, to close at 14,329.49 points; the Nasdaq composite index gained 9.72 points, or 0.30 percent, to close at 0.30 percent, to 3,232.09; the S&P 500 gained 2.80 points, to 1,544.26.

The Wilshire 5000 total market index gained 40.41 points, or 0.25 percent, to 16,316.49.

South Florida stocks picked up 2.22 points, or 0.18 percent, to close at 1,206.24; 19 of the 30 portfolio members advanced on the day. Watsco gained 82 cents to $79.75; BE Aerospace gained 61 cents to $55.29; Bankrate gained 47 cents to $12.02; BankUnited fell 92 cents to $26.08; Ocwen fell 61 cents to $40.79; Autonation fell 35 cents to $44.77.

Among Palm Beach stocks, QEP gained 49 cents to $16.49; Cross Country Healthcare gained 39 cents to $6.12; NextEra Energy fell 23 cents to $73.94; Hollywood Media fell 6 cents to $1.28.

The Federal Reserve reported that consumer credit increased $16.2 billion, as people borrowed more to buy cars and pay for college. Initial claims for unemployment benefits fell by 7,000 to 340,000.

Crude oil rose $1.13 to $91.56 a barrel; gasoline futures rose 0.14 cent to $3.1233 a gallon.

Ryder leads South Florida stocks

The market for March 6

DELRAY BEACH — Stocks continued to move higher Wednesday, receiving a boost from the job market.

The Dow Jones industrial average closed at 14,296.24, up 42.47 points, or 0.30 percent, surpassing the record high set Tuesday. The Nasdaq composite index slipped 1.76 points, or 0.05 percent, to close at 3,222.37; the S&P 500 gained 1.67 points, or 0.11 percent, to 1,541.46.

The Wilshire 5000 total market index gained 17.62 points, or 0.11 percent, to 16,276.08, breaking the record high for the index, like the Dow, set Tuesday.

South Florida stocks also set a record high, closing at 1,204.02, up 2.08 points, or 0.17 percent; 13 of the 30 portfolio members advanced on the day. Ryder picked up $1.25 to $57.95; BE Aerospace gained 83 points, or $54.68; Dycom gained 59 cents to $21.05; BankUnited fell $1.57 to $27.00; Heico fell 33 cents to $43.10; Perry Ellis fell 24 cents to $16.28.

Among Palm Beach stocks, Bankrate gained 40 cents to $11.55; NextEra Energy gained 29 cents to $74.17; Office Depot fell 18 cents to $4.01; Cross Country Healthcare fell 8 cents to $5.73.

Private payroll firm ADP said companies added 198,000 jobs in February. The Labor Department releases the official numbers, which include government jobs, on Friday. The Federal Reserve’s Beige Book said the economy continues to grow at a modest to moderate rate throughout the country. The Commerce Department said factory orders fell in January but the so-called core rate increased 7.2 percent.

Crude oil fell 39 cents to $90.43 a barrel; gasoline futures fell 2.35 cents to $3.1247 a gallon.