40% Intraday Gainer!


Stocks are flat on low volume.
The
Nasdaq approached the NYSE to explore the possibility of a merger — the last
time such a proposal was discussed was in 1999. Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating)

is up over 40% after posting a strong quarterly profit. Net income came in at
$16.3 million, a 83% jump from estimates, with revenue leaping 107% to $153.9
million. Consumer sentiment in December fell 1.1 points to 92.6 while GDP for
the third quarter grew at an annual rate of 8.2%. The Wall Street Journal
reported that Cingular Wireless
(
SBC |
Quote |
Chart |
News |
PowerRating)
is seeking an IPO to help fund
next year’s expansion. It is also exploring merger or acquisition with AT&T
(
T |
Quote |
Chart |
News |
PowerRating)
or another competitor.

Dow +1.76
10339.70
S&P 500 +2.33
1095.23
Nasdaq
+10.01

1965.81

The day’s leading sectors are
Internet
(
DOT.X |
Quote |
Chart |
News |
PowerRating)
+2.76%, Hardware [GHA.X|
GHA.X]
+2.50%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+1.48%, and Telecoms
(
IXTCX.X |
Quote |
Chart |
News |
PowerRating)

+1.15%,

Weak today are Oil Service
Sector
[OSX.X|
OSX.X] -2.03%, and
Energy

(
DXE.X |
Quote |
Chart |
News |
PowerRating)
-1.22%.

Economic news releases included
Chain Deflator +1.6%, and GDP for Q3 +8.2%. Personal income rose 0.5%, personal
spending also was up 0.4% and consumer sentiment was at 92.6

10-year Notes are -105
at 112 130

The dollar
is -0.06 at 88.33

Gold is -0.30 at 411.10

Crude Oil is -0.69 at
33.02

Volume is 529,000,000 on
the NYSE, and 635,000,000 on the Nasdaq.

Market breadth is positive.

NYSE Issues
Advancing 1754 Up Vol
308
Declining 1329 Down Vol 186
Ratio 1.32 1.66
Nasdaq
Advancing 1669 Up Vol
417
Declining 1327 Down Vol
199
Ratio 1.28 1.10

Top Dow stocks are:

Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating)
, +2.22% at
25.11, Hewlett Packard [HPQ|
HPQ],
+1.33% at 22.37, Intel |
INTC|INTC],
+1.11% at 30.76, and DuPont [DD|
DD],
+0.66% at 45.64.

Stocks in the news:

Metrologic Instruments
(
MTLG |
Quote |
Chart |
News |
PowerRating)
raised
its forecasts for fiscal year 2003. It expects to earn $4 million on sales of
$39 million for the fourth quarter. For the year, it expects to earn $12.5
million on sales of $135 million.

Baxter Internationl
(
BAX |
Quote |
Chart |
News |
PowerRating)
is trading
6% lower after cutting its earnings forecast for the fourth quarter. It expects
earnings of 62 cents per share on 9% higher sales.

Pinnacle Systems
(
PCLE |
Quote |
Chart |
News |
PowerRating)
was
downgraded by JP Morgan
(
JPM |
Quote |
Chart |
News |
PowerRating)
to underweight. JPM cited valuation
issues as the reason for the downgrade.

American Greetings
(
AM |
Quote |
Chart |
News |
PowerRating)
lowered
full-year earnings forecast from lower holiday sales. It recorded a profit of
$46.4 million on sales of $616 million. It now expects to earn $1.50 a share for
the year, down from $1.60.

bricew@tradingmarkets.com