The Key To Intel’s Report Today
After gapping up on better-than-expected retail numbers,
stocks are lower midday on fears of a rate
hike. Retail sales jumped 1.8%, much higher than the anticipated +0.7%. Business
inventories were 0.2% higher at 0.7%. Intel
(
INTC |
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Chart |
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PowerRating) will report after
the bell tonight with consensus EPS at 27 cents on sales of $8.17 billion. Traders will be focusing on any
guidance the company provides.
Merrill Lynch
(
MER |
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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 |
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News |
PowerRating) reported earnings of $0.83 cents a share or $2.5 billion, with
revenue that rose by 18% to $11.6 billion. Its pharmaceutical sales showed a
15.2% increase with consumer products up 14.3%.
| Dow | -52.67 |
10452.89 |
| S&P 500 |
-6.79 | 1137.57 |
| Nasdaq | -17.69 |
2047.53 |
The day’s leading sectors are
REITs
(
DJR.X |
Quote |
Chart |
News |
PowerRating) +0.79%, and Oil Index
(
XOI.X |
Quote |
Chart |
News |
PowerRating) +0.05%.
Weak today are Amex Gold
Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -4.88%, Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -4.38%,
and Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) -2.01.15%
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 -215
at 111 235
The dollar
is +1.03 at 90.25
Gold is -13.10 at 407.00
Crude Oil is -0.42 at
36.82
Volume is 599,000,000 on
the NYSE, and 889,000,000 on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing |
703 | Up Vol 160 |
| Declining | 2489 | Down Vol 426 |
| Ratio | 3.52 | 2.63 |
| Nasdaq |
||
| Advancing |
834 | Up Vol 333 |
| Declining |
2224 | Down Vol 536 |
| Ratio | 2.67 | 1.61 |
Top Dow stocks are:
Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating),
+0.27% at 51.06, Intel
(
INTC |
Quote |
Chart |
News |
PowerRating), +0.47% at 27.73, Boeing
(
BA |
Quote |
Chart |
News |
PowerRating)
+0.20% at 42.20, and Altria
(
MO |
Quote |
Chart |
News |
PowerRating), +0.17% at 55.71
Stocks in the news:
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