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Morning Update - Stocks of Interest
By: Matthew McCall   Wednesday, September 16, 2009 10:19 AM

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AIG ONE YEAR LATER: On 9/15/08 AIG fell 61% and closed at a split-adjusted $95.20. One year later after the huge drop the stock closed at $38.80. The stock is well off the $6.60 level hit in March, but has a long way to go to get back to the $1400/share level hit in 2007. Here is a little hint - it WILL NOT happen in this century!

 BREAKIN' OUT & BRAGGIN': Several of our holdings here at Penn Financial Group are joining the markets by hitting new 52-week highs and I thought I would share a few with you. Even though the headline is "braggin'", I am trying to make a point at how diverse the market rally has been. AND more importantly the stocks below are NOT buy recommendations; we bought at much lower prices.

  • FMC Corp (FMC) - A chemical company that is the number 3 producer of lithium in the world.
  • iShares Municipal Bond ETF (MUB) - A the basket of municipal bonds that pays a tax-free yield of 3.6% is up over 5% in the last 3 months.
  • iShares Silver ETF (SLV) - The ETF tracks the futures price of silver.
  • PowerShares Software ETF (PSJ) - Basket of software stocks; this is my favorite sector within the technology industry.

 

STOCKS OF INTEREST

  • Rightnow Technologies (RNOW) - A smaller tech company, RNOW provides on demand customer relationship management (CRM) software and services. This is a hot sector and RNOW is on support at $12.50.
  • Tetra Tech (TTEK) -  Infrastructure company that has its hands in everything from water to buildings and has recently pulled back to support - one to watch.
  • Omniture (OMTR) - Up over 25% after Adobe Systems (ADBE) made an offer for the company after the bell yesterday. Believe it or not, OMTR made it onto our Client Watchlist the prior day, unfortunately we did not buy any before the buyout. THAT BEING SAID, we have a few other technology players that we feel are positioned for big moves in the coming months. To find out more please contact us to hear more about our investment services.

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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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