Here Are Today’s Key Earnings Announcements

April 9, 2003
Daniel Beighley

The
major averages are in negative territory midday after gaining
positive ground in earlier trading on the momentum of Iraqi citizens and
American troops tearing down a statue of Saddam Hussein in Baghdad. Technology
issues are weak, while the defensive 10-year notes and gold have climbed higher
throughout the session. As it appears the war is winding down in the favor of
coalition forces, attention has now turned to earnings season.Â Today after the
bell Yahoo! and Genentech will announce. There will be no economic news today,
though tomorrow we have initial claims and trade data.Â

The 10-year U.S. Note
is +065 at 114 145.

The dollar is -0.21 at
100.69.

Gold is +3.10 at 325.50.

Crude OilÂ +0.12 at
28.12.

Volume is at 605,029,000
on the NYSE, and at 677,504,000 on the Nasdaq.

Market breadth is mostly
negative, with NYSE advancing issues over declining issues by a ratio of
1.11, and down volume over up volume by a 1.29 ratio. Nasdaq declining issues
over advancing issues are at 1.13, and down volume is over up volume by a 2.33
ratio.

Biggest Dow losers are:

Stocks in the news:

Tool maker Stanley Works
(
SWK |
Quote |
Chart |
News |
PowerRating), -9.42% at 21.65, fell after reducing its first-quarter earnings due
to lower sales and higher production costs.

Chip maker Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating),
-3.49% at 8.03, was downgraded by Needham & Co. to “hold” from “buy”.

Drug maker Abbott Labs
(
ABT |
Quote |
Chart |
News |
PowerRating),
+2.03% at 40.74, met its first-quarter earnings expectations of $0.51 per share,
though profits were down 6.2% from a year ago.

Car maker Daimler Chrysler
(
DCX |
Quote |
Chart |
News |
PowerRating), +1.23% at 32.79, announced that its 2003 earnings targets have become
“much more difficult”, though will try to bring costs down more in an effort to
meet targets.

Business services company
D&B Corp.
(
DNB |
Quote |
Chart |
News |
PowerRating), -11.89% at 34.75, lowered its first-quarter revenue
targets to $315 million vs. the previous estimate of $330.9 million.

Printing and publishing company
Knight-Ridder
(
KRI |
Quote |
Chart |
News |
PowerRating), -1.61% at 59.39, announced that they expect to see
first-quarter earnings come in just above $0.60 vs. a consensus of $0.67.

Textile company Lear Corp.
(
LEA |
Quote |
Chart |
News |
PowerRating), +0.83% at 38.96, has been upgraded by JP Morgan to “overweight” from
“neutral”.

Personal services company
SABRE Holdings
(
TSG |
Quote |
Chart |
News |
PowerRating), +3.18% at 16.57, has guided lower for the
first-quarter and expects to earn $0.36 vs. a consensus of $0.40.

Online bookseller Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating), -4.49% at 25.33, has had coverage initiated on it by JP Morgan at
“underweight”.

Online auctioneer eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating),
-2.40% at 87.14, has had coverage initiated on it by JP Morgan at “overweight”.

Beverage giant Pepsi
Bottling
(
PEP |
Quote |
Chart |
News |
PowerRating), +1.61% at 29.86, has been upgraded by Goldman Sachs to
“outperform” from “in-line”.

Media company Fox
Entertainment
(
FOX |
Quote |
Chart |
News |
PowerRating), -1.83% at 27.34, has had its estimates raised by
Goldman Sachs based on the belief that it will announce better-than-expected
third-quarter results.

danielb@tradingmarkets.com

Here Are Today’s Key Earnings Announcements

BUY THE FEAR, SELL THE GREED

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