Why Satellite Users Are Losing Channels
Stocks
continue their descent with continued weakness in the technology sector.
The Nasdaq briefly fell below the 2000-level. Satellite
provider EchoStar Communications
(
DISH |
Quote |
Chart |
News |
PowerRating) has pulled the plug on
Viacom
(
VIA.B |
Quote |
Chart |
News |
PowerRating) channels after a dispute over programming fees. DISH
said Viacom was seeking rate increases up to 40%; the dispute would impact 1.6
million customers in the US. Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) said its
first-quarter outlook would be at the top half of previously targeted goals with
earnings of 20 cents a share and revenue of $2.9 billion. Nike
(
NKE |
Quote |
Chart |
News |
PowerRating)
rose to a 52-week high after guiding the Street higher. It expects to maintain a
20% growth rate with earnings to exceed 71 cents a share. NKE is currently
trading at 10-year high.
Interpublic Group
(
IPG |
Quote |
Chart |
News |
PowerRating)
reported a net loss of $102.5 million on revenue of $1.63 billion, due to its previously announced $42.7 million restructuring charge.
| Dow | -48.50 |
10480.96 |
| S&P 500 |
-4.65 | 1142.55 |
| Nasdaq | -5.83 | 2002.95 |
The day’s leading sectors are
Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +0.89%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating)
+0.44%.
Weak today are Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) -1.82%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.64%, and Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) – 1.52%.
No Economic news releases
today.
10-year Notes are +120
at 117 135
The dollar
is 0.06 at 87.88
Gold is +5.10 at 406.00
Crude Oil is -0.02 at
36.55
The euro
is -0.09 at 123.79
Volume is 650,000,000 on
the NYSE, and 1,060,000,000 on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1266 | Up Vol 135 |
| Declining | 1842 | Down Vol 456 |
| Ratio | 1.48 | 3.46 |
| Nasdaq | ||
| Advancing | 1195 | Up Vol 352 |
| Declining | 1820 | Dow Vol 623 |
| Ratio | 1.60 | 1.77 |
Top Dow stocks are:
Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating), +0.86% at
77.56, Coca-Cola [KO|KO],
+0.84% at 50.29, IBM [IBM|IBM]
+0.52% at 95.06, and ExxonMobil [XOM|XOM],
+0.45% at 42.71.
Stocks in the news:
Weyerhaeuser
(
WY |
Quote |
Chart |
News |
PowerRating) has settled an
antitrust case for $34.5 million and is expected to take a first-quarter charge.
The suit alleged that it had monopoly power or attempted to gain monopoly power
in the Pacific Northwest. The company has not admitted liability.
The FDA approved Amgen’s
(
AMGN |
Quote |
Chart |
News |
PowerRating) Sensipar, to treat chronic kidney disease and parathyroid cancer.