This Could Put Us Through The Range

January 13, 2003
Daniel Beighley

The
major indexes are in slight positive territory mid-day, after
recovering from a reversal move to the downside. Bad news on Dell and a few
earnings warnings have weighed sentiment down, though buyers are putting up a
fight. This week will bring key earnings announcements from among others, Intel
and Yahoo!, which may be the spark to power the indexes out of recent ranges
established.

There are no economic releases
for the day.

The 10-year U.S. Note
is +070 at 112 180.

The Dollar is +0.31 at
101.87.

Gold is -1.50 at 353.40.

Crude Oil is +0.27 at
31.95.

Volume is at 689,574,000
on the NYSE, and at 931,029,000 on the Nasdaq.

Market breadth is mostly
positive, with NYSE advancing issues over declining issues by a ratio of
1.03, and up volume over down volume by a 1.21 ratio. Nasdaq declining issues
over advancing issues are at 1.02, and up volume over down volume is at a 1.52
ratio.

Top Dow gainers are:

Stocks in the news:

Entertainment giant America
Online‘s
(
AOL |
Quote |
Chart |
News |
PowerRating), +1.81% at 15.15, Chairman Steve Case has announced that
he will step down from his post, though will remain a director and co-chair of
the Strategy Committee.

Computer hardware company
Dell Computer
(
DELL |
Quote |
Chart |
News |
PowerRating), -3.90% at 26.09, has been downgraded by JP Morgan
to “neutral” from “overweight.”

Electric utilities company
Duke Energy
(
DUK |
Quote |
Chart |
News |
PowerRating), -12.10% at 18.46, Â has lowered its earnings
guidance for 2002 and 2003. For 2003 the company now sees earnings per share at
$1.35-1.60 vs. a consensus ofÂ $1.84.

Healthcare company Tenet
Healthcare
(
THC |
Quote |
Chart |
News |
PowerRating), +1.91% at 17.17, has beat its second-quarter earnings
expectations by $0.02 with profits of $0.72 per share.

Internet company United Online
(
UNTD |
Quote |
Chart |
News |
PowerRating),
+3.19% at 16.50 was given positive comments in a Barron’s as a turn
around Internet company now operating in the black.

Medical equipment and supplies company
Baxter International
(
BAX |
Quote |
Chart |
News |
PowerRating), +2.47%
at 31.15, has been upgraded by RBC Capital to “outperform” from “sector
perform.”

Defense contractor
Raytheon
(
RTH |
Quote |
Chart |
News |
PowerRating), -0.01% at 71.65, has said
that they are under informal investigation by the SEC over accounting issues.

Software king Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating), +0.88% at 56.41, is to pay $1.1 billion to 13 million California
consumers to settle an anti-trust lawsuit.

Daniel

This Could Put Us Through The Range

BUY THE FEAR, SELL THE GREED

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