A Little Help From Our Friends In The Far East
This piece was
written by Greg Che.
Markets opened higher Tuesday on the
news that the Bank of Japan had cut interest rates overnight, pushing the Nikkei
Index 4% higher.
Also helping the markets climb higher
was the Retail Sales numbers which were slightly better than expected. It
appears that the tax rebate checks are making their way to the retail sector
after all.
Breadth thus far for the session is
positive on better volume then last session.
The Nasdaq is up 6.32 at 1988.57, the
Dow is up 22.56 at10438.47, and the S&P 500 is up 1.20 at 1192.49.Â
Stocks moving higher in the session at
midday were Barnes & Noble
(
BKS |
Quote |
Chart |
News |
PowerRating), which is up 3.45 points at 39.10 after
the bookstore giant posted that July same-store sales figures were up 0.7% from
the same period one year ago.
Maximus
(
MMS |
Quote |
Chart |
News |
PowerRating) is trading at 48.80,
up 2.30.
UBS AG
(
UBS |
Quote |
Chart |
News |
PowerRating) scooted higher 2.51.
On the Nasdaq, Electronics Boutique
(
ELBO |
Quote |
Chart |
News |
PowerRating)
climbed 3.02 points after the company was upgraded to a Buy from Market Perform
by Banc of America Securities.
IGEN International
(
IGEN |
Quote |
Chart |
News |
PowerRating) is up
1.82Â after a court ruling favored the company in a suit against Roche
Diagnostics.
Cabot Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating) is
trading higher at 1.32.
Losing ground are Watson
Pharmaceutical
(
WPI |
Quote |
Chart |
News |
PowerRating), which is down 2.88 points at 60.45 after posting Q2
earnings in line with analysts’ expectations.Â
Ebraer Empresa Brasileira De
Aeronautic
(
ERJ |
Quote |
Chart |
News |
PowerRating) is sliding lower and is trading at 33.56 as hope for a
quick bailout package for Argentina is fading.
Professional Detailing
(
PDII |
Quote |
Chart |
News |
PowerRating) is
treading lower 7.45 points after the company reported a decrease in Q2 earnings
that were lower than expected.
Nvidia
(
NVDA |
Quote |
Chart |
News |
PowerRating) is down 1.53 ahead
of the company’s earnings call at 5:00 PM EDT today.
Also lower is Intersil
(
ISIL |
Quote |
Chart |
News |
PowerRating). After
trading higher yesterday, the stock is down 1.26 at 41.10.
It is like the changing of the guard
on the sector front as the sectors swapped from red to green and vice versa from
the last session. On a percentage basis, the Forest Paper Index
(
$FPP.X |
Quote |
Chart |
News |
PowerRating),
Retail Index
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) and the Transportation Index
(
$TRX.X |
Quote |
Chart |
News |
PowerRating) are
leading the session. In the red are the Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating),
the Chemical Index
(
$CEX.X |
Quote |
Chart |
News |
PowerRating) and the Cyclical Index
(
$CYC.X |
Quote |
Chart |
News |
PowerRating).