Here’s Why The Airlines Are Weak Today

July 11, 2003
Vincent Mao

In economic news, Producer
Prices in June rose by 0.5% vs. an expected 0.3% rise. Core Producer
Prices, which strips out the volatile food and energy sector, fell by 0.1%
compared to an expected rise of 0.1%. This still shows that businesses are
lacking pricing power which could impact earnings. Lastly Trade Balance in
May, came in slightly higher at -$41.8 billion compared to an expected
-$41.5 billion.Â

The 10-year U.S. Note
is +005 at 116 200.

The dollar is +0.38 at
96.05.

Gold is 0.70 at 345.30.

Crude Oil +0.47 at
31.53.

Volume is at 609,000,000
on the NYSE, and at 812,000,000 on the Nasdaq.

Market breadth is positive
on the NYSE and on the Nasdaq, with NYSE advancing issues over declining
issues by a ratio of 2.33, and up volume over down volume by a 2.58 ratio.
Nasdaq advancing issues over declining issues is at 1.63, and up volume over
down volume is at 2.15 ratio.

Top Dow stock(s) are:

Stocks in the news:

General Electric
(
GE |
Quote |
Chart |
News |
PowerRating)
is higher by 1.4% after the company reported second-quarter results in line with
analyst estimates. GE reported earnings of 38 cents a share compared to 44 cents
a share for the same period a year ago. Although revenues came in slightly ahead
of estimates, the company blamed the weakness on its weak gas turbine business
as well as high raw materials costs. The company also lowered its fiscal 2003
outlook to $1.55 from $1.70.Â

STAAR Sugical
(
STAA |
Quote |
Chart |
News |
PowerRating)
is higher by 1% after the company said it received $2.3 million in repayment
from a former company officer.Â

Monaco Coash
(
MNC |
Quote |
Chart |
News |
PowerRating)
is lower by 4.8% on heavy volume after the company warned that second-quarter
results would be below previous forecasts. The recreational vehicle maker now
expects earnings to be “slightly above breakeven” compared to analysts estimates
of 15 cents a share. The company cited increased expenses due to promotions and
a tough wholesale environment.Â

Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) is
fractionally lower after a former executive charged the company with improper
with improper accounting practices. Federal prosecutors are now looking into the
claim that Coke inflated its revenue and earnings.Â

Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) is
higher by 2% after Thomas Weisel upgraded the semiconductor giant form “peer
perform” to “outperform”. The firm based the upgrade on the belief of an IT
recovery in latter 2003. The firm also said that Intel’s margin could benefit
from the shift from desktops to notebooks. Â

Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating)
is slightly in the green and well off earlier lows. Late yesterday, the company
reported second-quarter results of 3 cents a share or a penny better than Street
estimates. However, the company warned that third-quarter sales and profits
would be flat.Â Â

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

Vincent Mao

Here’s Why The Airlines Are Weak Today

BUY THE FEAR, SELL THE GREED

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