Trading Up After The Close…
Stocks were lower with the Dow closing at its low
and the Nasdaq back to its 50 MA. As the dollar has strengthened this
year, the market has weakened. The Airline
Index fell almost 6%; down 12% in 2 days. Bush comments on tort reform helped
healthcare stocks.
The EIA said oil inventories fell by 3.3 million barrels; gas inventories
rose by 2 million barrels. ISM was 63.1 in December–better than expected– vs
61.3 in November.
LSI Logic
(
LSI |
Quote |
Chart |
News |
PowerRating) guided higher, with revenues going to $415-$420
million from $360-$490 million.
Nordstrom’s
(
JWN |
Quote |
Chart |
News |
PowerRating) December same store sales rose 9.3%.
Circuit City
(
CC |
Quote |
Chart |
News |
PowerRating) said December same store sales fell 5.8%, below
expectations.
AIG raised its dividend by 66%, saying the company will show
significant growth in all areas. The dividend goes from 7.5 cents per quarter to
12.5 cents. Just last month the company said it didn’t expect teh tsunami to
impact it adversely.
American Eagle Outfitters
(
AEOS |
Quote |
Chart |
News |
PowerRating) saw December sales rise 41%; the
company also raised Q4 guidance and traded up after hours.
Strong sectors were: Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating) +1.07%,
Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating) +0.29%.
Weak sectors were: Â Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -5.85%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
-1.48%, Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating) -1.20%.
Â
| Dow | -32.95 | 10,597.83 |
| S&P 500 | -4.32 | 1183.73 |
| Nasdaq | -16.62 | 2,091.24 |
The dollar was -0.03 at
82.57
Crude Oil was -0.51 at
43.39
Gold was -.70 to 426
2.36 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 971 | Up Vol 421 |
| Declining | 2362 | Down Vol 1178 |
| 2.43 | 2.79 | |
| Nasdaq |
||
| Advancing | 926 | Up Vol 670 |
| Declining | 2240 | Down Vol 1615 |
| 2.41 | 2.41 |
Stocks in the News
Bristol Myers Squibb
(
BMY |
Quote |
Chart |
News |
PowerRating) is in talks to sell its over the
counter drug line, Excedrin, for as much as $1 billion.
Sirius will collaborate with Microsoft to offer video service
in the 2nd half of 2006.
Micrel
(
MCRL |
Quote |
Chart |
News |
PowerRating) said it would miss earlier targets, citing weak
demand.
Harris
(
HRS |
Quote |
Chart |
News |
PowerRating) won a $30 million Army contract to provide radios.
Delta
(
DAL |
Quote |
Chart |
News |
PowerRating) plans to slash fares by 50%.
This Day in History
1914Â Henry For initiates $5/day minimum wage
1948Â first color newsreel of the Rose Parade
1920Â Red Sox announce sale of Babe Ruth to the Yankees
Brice Wightman