The Oracle Is Seeing Good Things
Stocks are modestly higher on the session.Â
Positive earnings announcements as well as a bullish outlook from enterprise
software maker Oracle
(
ORCL |
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Chart |
News |
PowerRating) have stocks pushing higher after recent lows.
Lower energy are also giving stocks a boost. The Energy Department
reported a 3.4 billion barrel rise in crude inventories. Crude oil for March
delivery is down 0.64 at 49.00.
Eli Lilly
(
LLY |
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Chart |
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PowerRating) beat by a penny. The company also beat on revenues; a weaker dollar
helped out.
Imclone
(
IMCL |
Quote |
Chart |
News |
PowerRating) beat by 0.10; the stock is trading up pre-market
General Dynamics
(
GD |
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Chart |
News |
PowerRating) beat by 0.03 and sees 2005 earnings up
11-13%, citing strong Gulfstream orders. The company has a $42 billion backlog.
Sirius
(
SIRI |
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Chart |
News |
PowerRating) reported a wider loss of 0.21/share.
The Iraq elections are on Sunday, and OPEC meets then as well. Next week,
look for the FOMC.
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating)
+4.63%, Semis Â
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.78%,
Drugs
(
DRG.X |
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Chart |
News |
PowerRating) +1.14%
Weak sectors are: Gold
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -3.26%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) -0.84%.
| Dow | +28.16 | 10,489.67 |
| S&P 500 | +2.80 | 1171.21 |
| Nasdaq | +10.33 | 2038.28 |
The dollar is +0.74 at
83.96
Crude Oil is -0.64 at
49.00
Gold is -5.00 to 421.8
1.9 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1842 | Up Vol 435 |
| Declining | 1269 | Down Vol 237 |
| 1.45 | 1.83 | |
| Nasdaq |
||
| Advancing | 1661 | Up Vol 649 |
| Declining | 1259 | Down Vol 415 |
| 1.32 | 1.56 |
Stocks in the News
SBC Communications
(
SBC |
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PowerRating) beat by a penny.
Oracle
(
ORCL |
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News |
PowerRating) guided higher, saying its Peoplesoft
acquisition is already contributing to earnings. The software maker also gave a
bullish outlook for fiscal 2006. Oracle says that it is looking for growth
between 22% to 28%, and earnings of 76 to 80 cents a share. Shares of Oracle are
looking to breakout of its recent month long trading range.
Flextronics
(
FLEX |
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Chart |
News |
PowerRating) beat by a penny;
Q3 net income surged four-fold.
Electronic Arts
(
ERTS |
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Chart |
News |
PowerRating)
beat by 0.06 but sales were slightly lower.
Texas Instruments
(
TXN |
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Chart |
News |
PowerRating))
beat by 0.02 but the company guided lower.
Brice Wightman
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