Today's Most & Least Liked Stocks: DNR, NGAS, SCON, PCBC, AMRN, HOG
Pacific Capital Bancorp, Harley-Davidson, NGAS Resources, Superconductor Technologies, Denbury Resources, and small cap stock Amarin Corporation are among today's most bullish and most bearish stocks.
The charts and the corporate results all play their role in determining a stock's price, but sometimes it's plain old opinion that gets things moving. That's why the following six stocks are of such interest this morning.... they're neck-deep in opinion, some positive, some negative. Even if it's just for contrarian reasons, you may want to know the market feels so strongly about these names.
Starting with the most bullish.....
Taking the #3 spot on the stocks the market loves this morning is Superconductor Technologies Inc. (SCON)... most likely the reaction to yesterday's earnings results. However, it's a counter-intuitive reaction - the loss of 0.14 per share was actually bigger than expected. In fact, the company's seen losses for a while now, while SCON shares just keep in rising. The company's bleeding will catch up with the stock's progress sometime though, and one has to wonder if this optimism - at a new 52-week high no less - will actually drive the mail in the Superconductor Technologies coffin.
Second on the list of the strongest bullish opinion today is Pacific Capital Bancorp (PCBC) - a chart that's been drowning for quite some time. It's another (somewhat) earnings-rooted 'hurrah'; the company posted last quarter's numbers on Tuesday, but simultaneously unveiled news that it would be getting back in the black in the near future. The market may be right on this one.
And finally, the most bullish stock out of the thousands that are eligible is NGAS Resources Inc. (NGAS). Again, the market could be right on target with this pick. NGAS has been in a freefall for months (with natural gas prices, mostly), but a complete meltdown yesterday (downgrade) is apt to have been a capitulation. With oil already back to crazy highs, and with winter around the corner, gas prices could start to perk up at the same time the stock has - literally - run out of sellers. As such, the upside-versus-downside with NGAS Resources is tipped heavily to the upside.
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As for the most bearish....
Considering the recent runup from $22 to $32 for Harley-Davidson, Inc. (HOG) shares, odds are this is more of a 'take profits' opinion versus an outright pessimistic view of the company's operation. Unfortunately, it really should be the latter. Harley-Davidson continues to sell fewer and fewer motorcycles; the only earnings progress being made is from the finance division, and that's not even real progress - it's just not booking the same one-time losses it was a year ago.
Second from the bottom today is Denbury Resources Inc. (DNR)... another likely 'take profits' view following a recent rally, though not a crazy decision. DNR shares have pushed themselves into an overextended state, and peaked in the $19's much like they did in April of this year, and even back in April of last year. There's just something about that level (not to mention a suspicious lack of volume behind the recent move).
And finally, the stock being viewed as the single-most-bearish idea out there today is small cap pharma name Amarin Corporation plc (AMRN). Once again, in the shadow of a big move from $1.00 to $3.00 over the last several months, this may be more of a 'take profits' opinion, but it's still a well-timed one. With a changing of the guard at the CEO post and a recent update on a Phase III study (AMR101), it may be time to 'sell the news'.... and steer clear of Amarin Corporation until the bulls decidedly regroup. Given the optimism for this new drug though, that may not take long - we should be getting key updates on both AMR101 trials before the end of the year.
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James E. Brumley is a paid contributor of the SmallCap Network. James E. Brumley's personal holdings should be disclosed above. You can also view SmallCap Network's complete disclaimer and disclosure.
