This Drug Effective Against Lyphoma–Click Here For Details
Stocks were mostly red, with the Nasdaq the only
bright spot today. Higher oil and several blue ship downgrades sent the Dow
lower. Alcoa
(
AA |
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PowerRating) was downgraded by Goldman Sachs. Pfizer
(
PFE |
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PowerRating)
was cut to ‘neutral’ at Merrill Lynch. In the retail sector, Circuit City
(
CC |
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PowerRating) said same store sales fell 4.3%; expectations were +2.6%.
Not all the news was bad.
Kimberly Clark (KMB)
guided in-line, saying it would buy back $1 billion in shares, and increased its
dividend by 2.5%.
Neilsen/NetRatings said online spending rose 19%
last month from a year ago–to $8.8 billion–and 62% higher than the 2002
holiday season.
Tuesday, look for analyst meetings from Intel,
Cisco and Hewlett Packard.
After the close, Biogen Idec
(
BIIB |
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News |
PowerRating)
said that their drug Zevalin appeared to be effective against the most common
type of Lymphoma.
Strong sectors were: Computer Technology
(
XCI.X |
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Chart |
News |
PowerRating)
+0.90%, Utilities
(
UTY.X |
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Chart |
News |
PowerRating) +0.90%
Weak sectors were: Airlines
(
XAL.X |
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Chart |
News |
PowerRating)
-1.63%, Pharmaceuticals
(
DRG.X |
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Chart |
News |
PowerRating)
-0.50%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -1.39%.
| Dow | -45.15 | 10547.06 |
| S&P 500 | -0.92 | 1190.25 |
| Nasdaq | +3.29 | 2151.25 |
The dollar was +0.31 at
81.37
Gold was -3.10 to 451.50
Crude Oil was +0.46 at 42.98
2.14 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1429 | Up Vol 560 |
| Declining | 1906 | Down Vol 742 |
| Ratio | 1.33 | 1.32 |
| Nasdaq |
||
| Advancing | 1399 | Up Vol 1439 |
| Declining | 1752 | Down Vol 678 |
| Ratio | 1.25 | 2.12 |
Stocks in the News.
Monsanto
(
MON |
Quote |
Chart |
News |
PowerRating) may benefit from less resistance to its genetically
altered seeds, says Barron’s.
Celgene
(
CELG |
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News |
PowerRating) reported positive data for several studies.
Apple
(
AAPL |
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Chart |
News |
PowerRating) was raised at JP Morgan.
Corgentech
(
CGTK |
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Chart |
News |
PowerRating) is lower after an experimental product failed a
late stage trial. Bristol Myers
(
BMY |
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Chart |
News |
PowerRating) is also involved in this trial.
Callaway Golf
(
ELY |
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Chart |
News |
PowerRating) was mentioned positively in Barron’s.
Unocal
(
UCL |
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Chart |
News |
PowerRating) said its board authorized a $465 million buyback.
Barron’s said Cato Corp.
(
CATO |
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Chart |
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PowerRating) may be undervalued.
Barron’s had some positive comments on American Real Estate
(
ACP |
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News |
PowerRating).
Getty Images
(
GYI |
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Chart |
News |
PowerRating) was the subject of some positive comments on
Wall Street Week.
Today in History
1768 First Encyclopedia Brittanica published
1865 13th Amendment ratified, abolishing slavery
Brice Wightman