AMAT Reports
Stocks
traded higher Wednesday. Standard and Poor’s
downgraded Ford’s
(
F |
Quote |
Chart |
News |
PowerRating) $180 billion
outstanding debt to one notch above junk level, citing lower profitability and
cash flow. F closed the day up 6%. UBS also raised S&P 500’s earnings
to $63 a share, up from $60.
The Dow Jones Industrial
Average
(
$INDU.X |
Quote |
Chart |
News |
PowerRating) rose 111.04 at 9848.83. The S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating)
rose 11.96 at 1058.53. The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) rose 42.36 at 1973.11.
The day’s leading sectors were Amex
Gold Bugs
(
$HUI.X |
Quote |
Chart |
News |
PowerRating), 7.61%, Gold and Silver
(
$XAU.X |
Quote |
Chart |
News |
PowerRating),
+5.57%, Disk Drive
(
$DDX.X |
Quote |
Chart |
News |
PowerRating), +4.67%, GSTI Hardware
(
$GHA.X |
Quote |
Chart |
News |
PowerRating),
+3.52%, and Computer Hardware
(
$HWA.X |
Quote |
Chart |
News |
PowerRating), +3.68%.
Weak today, Utilities
(
$UTY.X |
Quote |
Chart |
News |
PowerRating),
-0.10%.
No Economic news releases
today.
10-year Notes were +135
at 111 165.
The dollar
was -0.85 at 92.25
Gold was 6.48 at 395.08.
Crude Oil was -0.02 at
30.89.
Volume was
1,327,896,000 on
the NYSE, and 1,820,913,000 on the Nasdaq.
Market breadth was positive,
with NYSE advancing issues declining over issues by 3.20 and up over down volume
by 5.78; Nasdaq issues advancing over declining issues at 2.96, and down volume
over up volume at 8.38.
Top Dow stocks
are:
McDonald s [MCD|MCD],
+0.54 at 26.24, Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating), +0.78 at 25.06, Boeing |BA|BA],
+0.92 at 39.07, and Alcoa [AA|AA],
+1.29 at 32.71.
Stocks
in the news:
After the close, Applied
Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) announced Q4 profits of .06, beating estimates by .01.
Revenue was $1.22 billion, and declined less than expected from the same quarter
last year; orders rose 21%.
GM
(
GM |
Quote |
Chart |
News |
PowerRating) has announced a deal to export
$1.3 billion worth of vehicles to China in the next couple of years. The company
expects to export 4,500 vehicles through its GM China subsidiary.
DSL.net
(
DSLN |
Quote |
Chart |
News |
PowerRating) gained 15% after
reporting a 62% increase in revenue over the year-ago quarter. Net loss
increased to $9.1 million while gross margin rose to $5.2 million.
Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) announced a deal to
purchase Latitude Communications
(
LATD |
Quote |
Chart |
News |
PowerRating) for $80 million. LATD zoomed
up 28% after the news.
Faro Technologies
(
FARO |
Quote |
Chart |
News |
PowerRating) shed 10%
after announcing it had agreed to a private placement of $40.4 million of stock
at a discount to current prices.
If you have any comments or questions, please
feel free to email me.
bricew@tradingmarkets.com