Fed For Thought
The markets are in positive territory ahead of
the Federal Reserve’s 2:15 p.m. ET announcement where it is widely believed that
there will be another 25-point-basis cut. This would be the 11th rate cut in 11
for the year.
The Commerce Department
reported that wholesalers cut their inventories in October by 1%, the biggest
decline since 1992. Stocks seemed to have no reaction to this.
The world’s largest mobile
phone manufacturer Nokia
(
NOK |
Quote |
Chart |
News |
PowerRating) announced that it expects to meet or
beat fourth quarter earnings.
Grocery retailer
Kroger Co.
(
KR |
Quote |
Chart |
News |
PowerRating)
reported a 34% drop in fiscal third quarter earnings and will cut 1,500 jobs.
Leading sectors today are the Internet Index
(
$INX.X |
Quote |
Chart |
News |
PowerRating), up
4.73% at 145.88, and the GSTI Software Index
(
$GIN.X |
Quote |
Chart |
News |
PowerRating), up
2.47% at 187.47.
The biggest losing sectors today are the AMEX
Hong Kong Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), down 0.72% at
580.63, and the Natural Gas Index
(
$XNG.X |
Quote |
Chart |
News |
PowerRating), down 1.89% at 172.64.
From our percent gainers list:
Triad Hospitals Inc.
(
TRI |
Quote |
Chart |
News |
PowerRating) is up
10.34% at 28.81 on over twice its average volume. This healthcare facilities
company was upgraded by Bank of America
Montgomery with increased earnings guidance.
Western Digital Corporation
(
WDC |
Quote |
Chart |
News |
PowerRating) is up
8.13% at 5.85 on over 100% average volume. This computer storage devices
company has no news reported.
Nokia Corporation
(
NOK |
Quote |
Chart |
News |
PowerRating) is up
7.10% at 25.48 on less than 100% average volume. This
communications equipment company raised its fourth quarter expectations.
From our percent losers list:
NetScout Systems Inc.
(
NTCT |
Quote |
Chart |
News |
PowerRating) is down
23.40% at 8.02 on over four times average volume. This computer networks company
has no news reported.
InterVoice-Brite Inc.
(
INTV |
Quote |
Chart |
News |
PowerRating) is down
19.79% at
14.43 on over six times average volume. This communications equipment company
announced earnings of 7 cents a share yesterday.
PacifiCare Health Systems Inc.
(
IDTR |
Quote |
Chart |
News |
PowerRating)
is down 13.37%
at 13.99 on over twice average volume. This insurance company was downgraded by
Merrill Lynch to NT Reduce-Sell from NT Neutral.