Sales Up 200% For This Drug
Stocks took a dive over security and interest rate hike concerns.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) earned $623 million on revenue of $13
billion and upped 2005 revenue forecasts by $2 billion to $58 billion. The
company expects profits to exceed 30 cents a share for 2004. McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating)
reported earnings of $511.5 million with revenue up 16% to $.4 billion.
Same-store sales were up 9.4% globally and up 14.2% in the US. A weak dollar and
a healthier menu contributed to the higher earnings. Nortel Networks
(
NT |
Quote |
Chart |
News |
PowerRating)
dropped 26% after it fired CEO Frank Dunn and two other high-level executives in
connection with an internal probe of
the company’s financial practices.
Comcast
(
CMCSA |
Quote |
Chart |
News |
PowerRating) has dropped its bid to acquire Disney
(
DIS |
Quote |
Chart |
News |
PowerRating). Merrill
Lynch upgraded the stock on the news. Comcast posted earnings of $65 million
with revenue up 9.8% to 4.91 billion. The company will continue with its
previously announced share buyback program.Â
| Dow | -101.57 |
10376 |
| S&P 500 |
-11.24 |
1126.89 |
| Nasdaq | -29.09 |
2003.48 |
The day’s leading sectors are
Utility
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +0.15%, and Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +0.07%.
Weak today are Amex Gold
Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -6.13%, Â Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -5.48%, and
BiotechsÂ
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -4.50%.
No Economic news releases
today.
10-year Notes are -70 at
110 280
The dollar
is +0.72 at 91.35
Gold is -12.60 at 386.00
Crude oil is +0.34 at
37.87
Volume is 877,000,000 on
the NYSE, and 1,038,000,000 on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing |
757 | Up Vol 116 |
| Declining | 2368 | Down Vol 742 |
| Ratio | 3.12 | 6.17 |
| Nasdaq |
||
| Advancing |
627 | Up Vol 196 |
| Declining |
2412 | Down Vol 832 |
| Ratio | 3.89 | 4.35 |
Top Dow stocks are:
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) +2.43% at
44.60, McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating), +2.03% at 27.75, Merck
(
MRK |
Quote |
Chart |
News |
PowerRating)
+0.24% at 47.32, and Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating), +0.03% at 37.51.
Stocks in the news:
Bristol-Myers
(
BMY |
Quote |
Chart |
News |
PowerRating) posted
earnings of $964 million on revenue that rose 9.6% to $5.18 billion. Sales of
its blood clot-reduction agent Plavix grew 71% to $697 million with
antipsychotic Abilify sales up 200% to $115 million.
Utility Dynegy
(
DYN |
Quote |
Chart |
News |
PowerRating) posted
earnings of $74 million with revenue down 12% to $1.66 billion.
Flextronics International
(
FLEX |
Quote |
Chart |
News |
PowerRating)
reported earnings of $16 million with higher sales of $3.77 billion.
Kerr-McGee
(
KMG |
Quote |
Chart |
News |
PowerRating) reported
first-quarter net income of $152.2 million on high commodity prices with revenue
rising to $1.12 billion.
Brice Wightman
bricew@tradingmarkets.com