Here’s What INTC Reported After The Close
Stocks
traded lower today with the bank sector dragging
the market down on fears of rising interest rates.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating)
reported earnings of $1.7 billion or 26 cents a
share, down 20%, with revenue dropping 7% to $8.1 billion. The company expects
second-quarter revenue to reach $7.6 billion, with gross margins expected at
60%.
LeapFrog
(
LF |
Quote |
Chart |
News |
PowerRating) received an upgrade from Merrill Lynch on new products to be sold
worldwide. Merrill also upped the stock’s price target to $28. Mace Security
International
(
MACE |
Quote |
Chart |
News |
PowerRating) continued its ascent despite unfavorable market
conditions, rising 27% on the launch of its digital video recorder product line.
Retail sales jumped
1.8%, much higher than the anticipated +0.7%. Business inventories were 0.2%
higher at 0.7%.
Merrill Lynch
(
MER |
Quote |
Chart |
News |
PowerRating) posted earnings that doubled to $1.25 billion, with sales rising 27%
to $6.09 billion. The company said its bottom line was boosted by strength in
its global markets, investment banking and management, as well as global private
client services. Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating) reported earnings of $0.83 cents a share or $2.5 billion, with
revenue that rose by 18% to $11.6 billion. Pharmaceutical sales showed a 15.2%
increase, with consumer products up 14.3%.
| Dow | -134.28 |
10381.28 |
| S&P 500 |
-15.78 |
1129.42 |
| Nasdaq | -35.40 |
2030.08 |
Weak today are Amex Gold
Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -6.10%, and Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -3.39%.
Economic news releases today
included higher business inventories at 0.7%. Retail sales rose to 1.8%, with
sales excluding autos at 1.7%.
10-year Notes are -270
at 111 180
The dollar
is +0.96 at 90.18
Gold is -13.10 at 407.00
Crude Oil is -0.08 at
36.60
Volume is 1,415,000,000
on the NYSE, and 1,928,000,000 on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing |
420 | Up Vol 153 |
| Declining | 2923 | Down Vol 1254 |
| Ratio | 7.25 | 8.33 |
| Nasdaq |
||
| Advancing |
699 | Up Vol 530 |
| Declining |
2547 | Down Vol 1379 |
| Ratio | 3.64 | 2.60 |
Stocks in the news:
Foot Locker
(
FL |
Quote |
Chart |
News |
PowerRating) will
purchase 350 Footstar stores for $160 million. FL shares rose 4%.
Dow
Jones & Company
(
DJ |
Quote |
Chart |
News |
PowerRating) posted earnings of $17.8 million, excluding a
one-time gain. Revenue rose to $401.6 million.
Pharmaceutical Resources
(
PRX |
Quote |
Chart |
News |
PowerRating) acquired Kali Laboratories, a generic
pharmaceutical research and development company, for $135 million.
Novellus
(
NVLS |
Quote |
Chart |
News |
PowerRating) reported
earnings of $16.7 million, with net sales rising to $262.9 million. For the next
quarter, the company expects revenue to reach $315 million with earnings around
9 cents per share.
Brice Wightman
bricew@tradingmarkets.com