Here’s What AOL Did After The Earnings Report

July 23, 2003
Vincent Mao

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

The 10-year U.S. Note
is +200 at 114 000.

The dollar is -1.14 at
95.53.

Gold is +6.60 at 357.30.

Crude Oil +0.18 at
29.67.

Volume is 703,000,000 on
the NYSE, and 1,000,000,000 on the Nasdaq.

Market breadth is negative,
with NYSE declining issues over advancing issues by a 1.51, and down volume over
up volume by 1.93. Nasdaq declining issues over advancing issues at 1.64, and
down volume over up volume at 1.78.

Top Dow stock(s) are:

Stocks in the news:

Internet retail giant,
Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) is higher by 12% 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.Â

Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) is
higher by 1% 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.Â

Entertainment and media giant
AOL Time Warner
(
AOL |
Quote |
Chart |
News |
PowerRating) is lower by 5% despite 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.Â

Internet search engine Ask
Jeeves
(
ASKJ |
Quote |
Chart |
News |
PowerRating) is trading higher by 17% on heavy volume 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.Â

Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) is
higher by 7% on more than double its average volume 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.Â

Network computer maker Sun
Microsystems
(
SUNW |
Quote |
Chart |
News |
PowerRating) is lower by 19% 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.Â

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

Vincent Mao

vincentm@tradingmarkets.com

Here’s What AOL Did After The Earnings Report

BUY THE FEAR, SELL THE GREED

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