Here’s How GE Fared This Quarter
Stocks opened strong on positive economic and earnings data but gave up most of
their gains. Security
stocks are experiencing continued upward momentum with investors expecting more
deals to be awarded by the federal government.
General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) posted earnings of $4.32 billion on revenue of
$33.4 billion. Year over year earnings were up 8% and the company is optimistic
for next year.
Yahoo!
(
YHOO |
Quote |
Chart |
News |
PowerRating) reported earnings of $0.14
a share, 3 cents ahead of consensus and announced a 2 for 1 stock split.
Advertising revenue helped increase sales
to $758 million from $283 million a year ago for the same period.
National security adviser
Condoleezza Rice testified before the 9/11 commission on al Qaeda saying there
was no silver bullet that could have prevented the attack. She denied Richard
Clarke’s assertion that Bush wanted him to find an Iraqi connection to 9/11.
| Dow | +6.88 | 10487.03 |
| S&P 500 |
+2.79 | 1143.37 |
| Nasdaq | +10.80 |
2061.13 |
The day’s leading sectors are
Internet
(
ECM.X |
Quote |
Chart |
News |
PowerRating) +4.06%, Techs
(
TXX.X |
Quote |
Chart |
News |
PowerRating) +1.27%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.14%, and Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating) + 1.11%.
Weak today are Amex Gold
Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -0.98%, and Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -0.96%.
Economic news releases included
a much bigger drop in weekly initial claims at 328,000 and wholesale inventories
that jumped 1.2%.
10-year Notes are +20 at
112 250
The dollar
is +0.75 at 89.30
Gold is -3.00 at 419.80
Crude Oil is +2.05 at
36.43
Volume is 599,000,000 on
the NYSE, and 899,000,000 on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing |
1535 | Up Vol 326 |
| Declining | 1542 | Down Vol 244 |
| Ratio | 1.01 | 2.62 |
| Nasdaq |
||
| Advancing |
1689 | Up Vol 526 |
| Declining |
1310 | Down Vol 354 |
| Ratio | 1.88 | 1.38 |
Top Dow stocks are:
ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating),
+2.29 at 42.80, Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) +0.78% at 82.71,Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating),
+0.74% at 51.45, and Honeywell
(
HON |
Quote |
Chart |
News |
PowerRating), +0.72% at 34.80.
Stocks in the news:
Interactive Pictures
(
IPIX |
Quote |
Chart |
News |
PowerRating) entered into a reseller agreement with Abstract Security for its
CommandView cameras. IPIX is up 60% today, having risen 500% over the past two
weeks.
Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) reported
same-store sales rising 6% on strong demand for clothing and Easter products.
Total sales reached $25.13 billion.
Computer maker Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) is
expecting a 25% rise in unit shipments and raised its first-quarter revenue
forecasts to $11.4 billion from $11.2 billion.
Brice Wightman
bricew@tradingmarkets.com