After The Close, Watch This Company
Stocks are
higher today on strong earnings expectations.
Initial Jobless Claims rose by 14,000 to 353,000 for the first week of
the year, slightly higher than expectations. Phone maker Nokia
(
NOK |
Quote |
Chart |
News |
PowerRating)
surged after it raised raised its fourth-quarter numbers. It now expects
pro-forma earnings of 0.28 cents a share, up from forecast of 21 cents. It said
it saw an increase in operating investments and a 4% rise in its mobile phone
unit. Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) reported December sales numbers up 4.3%, near
the high end of expectations. Verizon Wireless
(
VZ |
Quote |
Chart |
News |
PowerRating) will spend $1
billion over the next two years to build a high-speed wireless network.
Procter & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) raised second-quarter outlook on strong sale of
cold and flu medicines. It now expects to earn $1.28 a share. After the bell,
Alcoa
(
AA |
Quote |
Chart |
News |
PowerRating) will release earnings, starting the earnings season. Estimates are
0.34.
Dow | +36.04 |
10566.01 |
S&P 500 | +1.27 | 1127.54 |
Nasdaq | +8.61 | 2086.48 |
The day’s leading sectors are
Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) +3.61%, Hardware
(
HWI.X |
Quote |
Chart |
News |
PowerRating) +2.20%,
Health Providers
(
RXH.X |
Quote |
Chart |
News |
PowerRating) +2.00%,
Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +0.68%, and Telecoms [XTC.X|XTC.X]
+1.54%.
Weak today are Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.51%, and Retail
(
RLX.X |
Quote |
Chart |
News |
PowerRating) -1.32%.
Economic news releases included
initial claims that fell to 353,000 and wholesale inventories that rose 0.5%.
10-year Notes are -5 at
112 155
The dollar is -0.67 at 85.85
Gold is +2.00 at 425.40
Crude Oil is -0.05 at
32.92
Volume is 795,000,000 on
the NYSE, and 1,371,000,000 on the Nasdaq.
Market breadth is Positive.
NYSE | Issues | |
Advancing | 1731 | Up Vol 525 |
Declining | 1353 | Down Vol 296 |
Ratio | 1.27 | 1.77 |
Nasdaq | ||
Advancing | 1682 | Up Vol 788 |
Declining | 1321 | Down Vol 433 |
Ratio | 1.72 | 1.81 |
Top Dow stocks are:
Hewlett Packard
(
HPQ |
Quote |
Chart |
News |
PowerRating), +4.26% at
24.30, Honeywell [HON|HON],
+4.03% at 35.18, AT&T
(
T |
Quote |
Chart |
News |
PowerRating),
+2.16% at 42.99, and Boeing [BA|BA],
+1.60% at 42.82.
Stocks in the news:
Communications equipment maker Andrew
(
ANDW |
Quote |
Chart |
News |
PowerRating)
raised its first-quarter forecast, citing a continuation of improving industry
trends. It now expects revenue to reach $400 million, up from $320 million,
while earnings is expected to exceed 6 cents a share.
The FDA rejected Inamed’s
(
IMDC |
Quote |
Chart |
News |
PowerRating)
application to market silicone breast implants. The FDA said it needed more
information before it would revisit the application.
Nortel Networks
(
NT |
Quote |
Chart |
News |
PowerRating) signed a three-year deal with Avici Systems
(
AVCI |
Quote |
Chart |
News |
PowerRating) to support AVCI with IP routers
and devices that direct data on networks.
Retailer Kohl’s
(
KSS |
Quote |
Chart |
News |
PowerRating) fell 8%
after indicating a lower fourth-quarter earnings due to disappointing sales in
December. It now expects to earn 68 cents a share for the quarter. Same-store
sales also fell by 1.2%.
bricew@tradingmarkets.com