Earnings, Earnings, Earnings

July 23, 2003
Vincent Mao

No economic news today. Look
for the weekly jobless claims numbers tomorrow.

The 10-year U.S. Note
was +095 at 113 215.

The dollar was -1.07 at
95.60

Gold was +8.00 at
358.70.

Crude Oil was +0.07 at
29.74.

Volume was
1,338,692,000 on
the NYSE, and 1,816,668,000 on the Nasdaq.

Market breadth was positive,
with NYSE advancing issues over declining issues by a 1.12, and down volume over
up volume by 1.02. Nasdaq advancing issues over declining issues at 1.23, and up
volume over down volume at 1.33.

Top Dow stock(s) were:

Stocks in the news:

Internet retail giant,
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) was higher after the company reported better
than expected earnings and raised its full year sales outlook. Excluding items
the company earned $42 million or 10 cents a share compared to a loss of $4.4
million in the year ago quarter. Revenues also jumped to $1.1 billion from $806
million last year thanks to strong sales of the latest Harry Potter book.
Looking ahead, Amazon expects full year revenues between $4.9 billion to $5.1
billion compared to analysts estimates of $4.8 billion.

Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) was
higher after reporting better than expected second quarter results. The
biotech firm reported earnings of 45 cents a share compared to 38 cents a share
during the same quarter last year. And excluding one-time charges the company
earned 49 cents a share or 3 cents better than estimates. Amgen also raised full
year guidance to between $1.85 to $1.95 from $1.80 to $1.90.

Entertainment and media giant
AOL Time Warner
(
AOL |
Quote |
Chart |
News |
PowerRating) fell after reporting an increase in
second quarter earnings. Excluding items, the company earned 12 cents a share or
2 cents better than consensus estimates. Revenue rose by 6% to $10.82 billion
versus estimates of $10.65. However the company may have to restate $400 million
in advertising sales as the SEC alleges that the were wrongly accounted for.

Internet search engine Ask
Jeeves
(
ASKJ |
Quote |
Chart |
News |
PowerRating) traded higher after the
company reported higher than expected earnings and lifted its full year
projections. Excluding items the company earned 10 cents a share versus
estimates of 10 cents a share. The company also raised its full year projections
from 26 cents a share to 33 cents a share.

Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) was
higher after the company better
than expected second quarter results. The imaging company reported earnings of
39 cents compared to 97 cents a share during the same quarter a year ago. The
results were better than the company’s lowered estimate of 25 to 30 cents a
share. Kodak also announced plans to lay off 4,500 to 6,000 jobs.

Network computer maker Sun
Microsystems
(
SUNW |
Quote |
Chart |
News |
PowerRating) fell after the company reported an 80%
drop in quarter profits. For the second quarter, the company earned $12 million
or nil cents a share compared to $61 million or 2 cents a share during the year
ago quarter. Analysts had been expecting earnings of 2 cents a share.

If you have any comments or questions, please
feel free to email me.

Vincent Mao

vincentm@tradingmarkets.com

Earnings, Earnings, Earnings

BUY THE FEAR, SELL THE GREED

Quick Links

Company Info

Contact

Company Resources