GM raises stock price range due to investor demand

DETROIT (AP) — General Motors says it is raising the price range for its initial public offering of common stock to $32 to $33 per share. The new price range is about 14 percent higher than originally expected.

The announcement came in a statement issued Tuesday morning. It gave no reason for the increase, but people briefed on the sale have said it is due to high demand from investors. The IPO is expected Thursday.

The company also says it will increase the number of preferred shares it is selling from 60 million to 80 million, increasing the value of the preferred stock sale from $3 billion to $4 billion.

Earlier this month GM said its owners will sell 365 million common shares for $26 to $29 each. GM also planned to sell 60 million preferred shares for $50 each.

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Time To Party In Tupperware With The Stock Pulling Back

Seal in a low basis in TUP

In case you missed the Tupperware party during the fall season, consider this week’s 2% correction an invitation to arrive fashionably late.

The “Tupperware space” was a big winner over the past two-plus months. Since September 2, Jarden Corporation, Newell Rubbermaid, and of course Tupperware Brands have rallied 12.9 percent, 10.7 percent, and 14.2 percent, respectively. This past week, Newell and Jarden bent to the market’s force, providing opportunities for those who didn’t join the party.

Since hitting a 6-month high in October, tupperware and diversified consumer products producer Jarden Corporation are down a little over 4 percent, serving to drastically repair Jarden’s technical picture. Over that time, Jarden’s relative strength index (RSI) has improved from an overbought position above 75 to a reading near 47, and the stock’s slow stochastics have fallen from an overbought reading above 80 to below 40.

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Jarden stock has been consolidating and building support following profit taking in the wake of Jarden’s third-quarter earnings report last month, potentially preparing for a new rally.

The charts for Georgia-based Newell Rubbermaid?appear even more favorable. The stock formed a rounding top pattern, but volume has been steadily declining on the downturn. Newell, who also produces writing instrument brands like Sharpie and Papermate, in addition to other products, features an RSI near 37 and slow stochastics below 12, both being indicative of an oversold position. Currently priced near $17.14, look for Newell’s technicals to form a bottom before a potential retracement to the 10-day exponential moving average and to the last strong-volume open price near $17.93 which occurred on November 5.

Newell?also has?the advantage being?priced at 19-times earnings, versus Jarden which trades at a rich price-to-earnings multiple of 47. Yet both stocks?have strong short-term potental based on the charts. Although Newell and Jarden offer extremely modest annual dividend yields of about one percent, compared with Tupperware Brands’ two percent, both stocks may be sending out?invitations to buy the dips.

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Time To Party In Tupperware With The Stock Pulling Back

Seal in a low basis in TUP

In case you missed the Tupperware party during the fall season, consider this week’s 2% correction an invitation to arrive fashionably late.

The “Tupperware space” was a big winner over the past two-plus months. Since September 2, Jarden Corporation, Newell Rubbermaid, and of course Tupperware Brands have rallied 12.9 percent, 10.7 percent, and 14.2 percent, respectively. This past week, Newell and Jarden bent to the market’s force, providing opportunities for those who didn’t join the party.

Since hitting a 6-month high in October, tupperware and diversified consumer products producer Jarden Corporation are down a little over 4 percent, serving to drastically repair Jarden’s technical picture. Over that time, Jarden’s relative strength index (RSI) has improved from an overbought position above 75 to a reading near 47, and the stock’s slow stochastics have fallen from an overbought reading above 80 to below 40.

Special Offer: Make the most out of gold’s phenomenal move higher but don’t get left holding the bag when it’s time to run. Click here for instant access to market timing analysis and specific gold, silver and hard asset model portfolios in Curtis Hesler’s?Professional Timing Service.

Jarden stock has been consolidating and building support following profit taking in the wake of Jarden’s third-quarter earnings report last month, potentially preparing for a new rally.

The charts for Georgia-based Newell Rubbermaid?appear even more favorable. The stock formed a rounding top pattern, but volume has been steadily declining on the downturn. Newell, who also produces writing instrument brands like Sharpie and Papermate, in addition to other products, features an RSI near 37 and slow stochastics below 12, both being indicative of an oversold position. Currently priced near $17.14, look for Newell’s technicals to form a bottom before a potential retracement to the 10-day exponential moving average and to the last strong-volume open price near $17.93 which occurred on November 5.

Newell?also has?the advantage being?priced at 19-times earnings, versus Jarden which trades at a rich price-to-earnings multiple of 47. Yet both stocks?have strong short-term potental based on the charts. Although Newell and Jarden offer extremely modest annual dividend yields of about one percent, compared with Tupperware Brands’ two percent, both stocks may be sending out?invitations to buy the dips.

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Stock futures edge higher ahead of Fed meeting

NEW YORK (AP) — Stock futures are inching higher as investors turn their attention to the Federal Reserve’s meeting after there were few surprises in the midterm elections.

By the end of Wednesday, investors will likely know exactly how much the Fed plans to spend to stimulate the economy. The central bank has hinted for two months it plans to buy Treasurys to drive interest rates lower. However, there is still plenty of debate about the size and length of the program.

Treasury prices rose slightly, sending interest rates lower ahead of the announcement.

Dow Jones industrial average futures are up 12, or 0.1 percent, at 11,164. S&P 500 futures are up 1, or 0.1 percent, at 1,194, while Nasdaq 100 futures are up 2, or 0.1 percent, at 2,152.

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Stock futures mostly dip before Bernanke’s speech

NEW YORK (AP) — Stock futures are mostly slipping as traders anxiously await a key speech from Federal Reserve chairman Ben Bernanke and a handful of economic reports.

Nasdaq 100 futures are getting a modest lift Friday from strong Google earnings.

Bernanke’s speech will be closely watched because investors are looking for any further clues on the central bank’s plans to stimulate the economy. Expectations are the Fed will announce a concrete program to buy Treasurys after its next meeting wraps up in early November. But what is not known is how much the bank will spend.

Dow Jones industrial average futures are down 10, or 0.1 percent, at 1,1042. S&P 500 futures are down 1, or 0.1 percent, at 1,172. Nasdaq futures are up 5, or 0.2 percent, at 2,067.

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