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Stocks are higher ahead of the Fed. Volume is heavier, the A/D line is positive and the new high list is expanding. The Dow is poised to make it three up-days in a row--something that hasn't happened yet this year.
The Fed will announce its decision today at 2:15 PM; economists expect a 1/4 point rise to 2.5% and only modest changes to the policy statement.
Google (GOOG | Quote | Chart | News | PowerRating) reported 0.85 vs a 0.77 consensus estimate. Revenues were $634 million vs. a $590 million estimate. Google commands 40% of the search market. Forty-eight percent of the revenue came from non-Google websites. The company has not provided any guidance. The stock rallied over 10 points after the close. Merrill Lynch raised its 2005 revenue forecast to $3.11 billion. Jeffries raised to a 'Buy.' Goldman lifted its earnings per share estimate by 25%. GOOG hits an all-time high of 216.80 intraday.
Boeing (BA | Quote | Chart | News | PowerRating) reported earnings that beat by 0.18, but Q4 profit was lower on charges related to the closing of its 717 program and the cancellation of an Air Force tanker order. Net income fell 84%; revenue rose 1%. The company expects to deliver 320 planes in 2005.
Harrah's (HET | Quote | Chart | News | PowerRating) beat by a penny as net income jumped 118%.
Sears (S | Quote | Chart | News | PowerRating) will list on the Nasdaq after the merger with KMart is complete. The letter 'S' has been Sears' NYSE symbol since 1910; this will leave that symbol open for another company to use. Not only that, but after AT&T (T | Quote | Chart | News | PowerRating) merges with SBC Communications, 'T' will be available as well. And don't forget 'G.'
Tonight at 9 PM ET (6 PM PT), look for the State of the Union address.
Happy Groundhog Day! Punxsutawney Phil saw his shadow, which predicts six more weeks of winter.
Strong sectors are: Airlines (XAL.X | Quote | Chart | News | PowerRating) 2.0% Oil (XOI.X | Quote | Chart | News | PowerRating) +0.91% Natural Gas (XNG.X | Quote | Chart | News | PowerRating) +1.3%
Weak sectors are: Banks (BIX.X | Quote | Chart | News | PowerRating) -0.64% Biotech (BTK.X | Quote | Chart | News | PowerRating) -0.5% Networking (RLX.X | Quote | Chart | News | PowerRating) -0.42%
| Dow | +33.47 | 10,585.41 |
| S&P 500 | +2.81 | 1192.22 |
| Nasdaq | +3.59 | 2072.29 |
The dollar is +0.16 at 83.61
Crude Oil is -0.42 at 46.70
Gold is -1.20 to 420.10
Volume is 601 million on the NYSE and 820 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1772 | Up Vol 337 |
| Declining | 1283 | Down Vol 178 |
| 1.38 | 1.89 | |
| Nasdaq | ||
| Advancing | 1475 | Up Vol 424 |
| Declining | 1399 | Down Vol 295 |
| 1.05 | 1.43 |
Stocks in the News
Nvidia (NVDA | Quote | Chart | News | PowerRating) raised its Q4 forecast to $560-570
Devon Energy (DVN | Quote | Chart | News | PowerRating) beat by 0.09.
Rohm & Haas (ROH | Quote | Chart | News | PowerRating) beat by .07 and guided higher.
Fox Entertainment (FOX | Quote | Chart | News | PowerRating) beat by 0.05.
Monster Worldwide (MNST | Quote | Chart | News | PowerRating) earnings more than doubled; the company said it has acquired a 40% stake in ChinaHR.com
Brice Wightman
