Here’s The Number That Traders Will Be Looking For This Afternoon

May 15, 2003
Vincent Mao

Stocks are
mixed on this midday Thursday.Â After a two-day pullback from
multi-month highs, the major indices are slightly higher, but well off the highs
of the session. Stocks did bust out of the gate as better-than-expected
quarterly results from Analog Devices
(
ADI |
Quote |
Chart |
News |
PowerRating), Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating)
boosted tech stocks. While a lower-than-expected jobless claims report also help
contributed to the early morning strength. Bonds are higher once again and the
U.S. dollar is also firmer. After the close, Dell Computer
(
DELL |
Quote |
Chart |
News |
PowerRating) is set to
report first-quarter results after the close. Analysts are looking for 23
cents.Â

In economic news, weekly Jobless
Claims came in at a five-week low of 417K vs. estimates of 430K, New York
Fed’s Empire State Index for May rose to a 106 vs. estimates of -8.2,
Producer Prices for April -1.9% vs. -0.7%, Core PPI -0.9% vs.
-0.1%. Business inventories for March 0.4% vs. 0.2%. Capacity
Utilization for April 77.4% vs. 74.5% and Industrial Production for
April -0.5% vs. -0.4%.Â

The 10-year U.S.
Note is +40 at 117 220.

The dollar is +0.32 at
95.05.Â

Gold is +1.30 at
353.80

Crude OilÂ -0.27 at
28.90

Volume is heavy at 732,000,000
on the NYSE, and at 1,117,000,000 on the Nasdaq.

Market breadth is mixed, with
NYSEÂ issues advancing over declining issues by a ratio of 1.14, and down volume
over up volume by a 1.21 ratio. Nasdaq advancing issues over declining issues at
1.15, and up volume over downÂ volume is at a 1.43 ratio.

face=Arial>

Top Dow stocks are:

Stocks in the news:

Retailer American Eagle
Outfitters
(
AEOS |
Quote |
Chart |
News |
PowerRating) is higher by 2.6% on heavy volume. The company
reported first-quarter results of 9 cents and beat estimates by a penny. However,
results were down from 17 cents a share a year ago.Â

Analog Devices
(
ADI |
Quote |
Chart |
News |
PowerRating) is
higher by 3.29 on heavy volume. The company reported second-quarter earnings of
19 cents compared to 16 cents a share last year. ADI surpassed estimates by a
penny. They company also expects third-quarter revenues to increase by 3 to
5%.

Network-management software maker
Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating) is up 10.50% on more than triple its average
volume. Excluding certain items, the company reported fourth quarter earnings of
8 cents a share topping estimates by 2 cents.Â

Charles Schwab
(
SCH |
Quote |
Chart |
News |
PowerRating)
reported a 8% drop in customer trading activity in April compared to year-ago
levels. However, customer trades are up 5% from March.Â Â

Intuit
(
INTU |
Quote |
Chart |
News |
PowerRating) is up 8% on
double its average volume. The company posted second-quarter results of $1.40 a
share, up from 67 cents a share during the same period a year ago. The results
topped estimates by 4 cents. Intuit also upped its third-quarter
targets.Â

Truck equipment maker Navistar
(
NAV |
Quote |
Chart |
News |
PowerRating) reported a smaller-than-expected loss of 18 cents a share compared to
estimates of a loss of 24 cents a share.Â

Panera Bread
(
PNRA |
Quote |
Chart |
News |
PowerRating) is
higher by almost 7% on double its average volume. The company reported first-quarter results excluding a one-time charge that beat estimates by a penny.
Going forward, Panera raised full year guidance to $1 or a penny above
estimates.

href=”mailto:danielb@tradingmarkets.com”>vincentm@tradingmarkets.com

Here’s The Number That Traders Will Be Looking For This Afternoon

BUY THE FEAR, SELL THE GREED

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