Stocks Mixed Mid-Session
Stocks are mixed as traders
balance a weak retail sales report with good earnings from Lehman Brothers.
August retail sales fell 2.1% in August–the
biggest drop in almost four years. Lehman Brothers
(
LEH |
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PowerRating) beat by 0.59
and beat on revenues. Profit rose 74% on higher M&A profits and increased debt
origination.
Delta Airlines
(
DAL |
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PowerRating) and Northwest
Airlines
(
NWAC |
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PowerRating) may file for bankruptcy as early as today, The New
York Times reports.
Baidu.com
(
BIDU |
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PowerRating) is off over 20% on
two brokerage firms initial coverage. Goldman Sachs and Piper Jaffray both
initiated coverage of BIDU with underperform ratings. BIDU is trading at $92,
-21.59. Goldman analyst Anthony Noto values the stock at $27.
ETrade
(
ET |
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PowerRating) reported daily average
trades (DARTs) rose 37% last from the same period a year ago.
Strong Sectors are: Gold
(
XAU |
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Chart |
News |
PowerRating)
+2.57% Oil Services
(
OSX |
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News |
PowerRating) +1.60%
Weak sectors are:
Retail
(
RLX |
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PowerRating) -0.50% Internet
(
GIN |
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PowerRating)
-0.38%
|
|
+10.50 | 10,607.63 |
| -1.68 | 2170.07 | |
| +2.00 | 1233.20 |
Stocks in the news:
Amerisourcebergen
(
ABC |
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PowerRating) was upgraded
to Buy at UBS, with at $92 price target.
Google
(
GOOG |
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PowerRating) will begin its shelf
offering share sale after the market close today, Bloomberg reports. The company
said it expects to net $4.11 billion from the 14.16 million Class A shares.
Genentech
(
DNA |
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PowerRating) said a Phase II study
showed Herceptin with chemotherapy improved survival rates in women with early
stage breast cancer.
OSI Pharmaceuticals
(
OSIP |
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PowerRating) said an
FDA panel will recommend Tarceva for approval.
Abbot Lab’s
(
ABT |
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PowerRating) CEO Miles White
offered an upbeat forecast for 2007 and reaffirmed $0.56 – $0.58 for Q3 and
$2.47 – $2.53 for 2005 full-year earnings.
Teva Pharmaceuticals
(
TEVA |
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Chart |
News |
PowerRating) received FDA approval for Leflunomide
tablets for treatment of rheumatoid arthritis.
Brice Wightman