Alcoa Kicks Off Earnings Season. Will This Be The Trend?
Stocks were higher, but well of their intraday
highs. The market bounced off the open but reverse mid-day.
This week, nine S&P companies are reporting earnings.
Thompson Financial says earnings for Q4 should be up 15%. This
compares with +28% for Q3.Alcoa
(
AA |
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PowerRating) kicked off earnings season,
reporting 0.39 vs a 0.41 estimate. Revenues were a little light. Tomorrow, Intel reports; estimates are
0.31. On Wednesday, it’s Apple, with a 0.46 estimate, thanks to iPod, and
then on Thursday look for Sun Microsystems with a 0.01 estimate.
Oil fell from 5-week highs and the dollar had its first loss for 2005.
Boston Scientific’s
(
BSX |
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PowerRating) Q4 sales rose 70%, but the company said
that 2005 earnings would be adversely affected by a loss in Japan.
Strong sectors were: Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating)
+1.92%, Natural Gas
(
XNG.X |
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Chart |
News |
PowerRating) +1.17%, Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)
+0.92%.
Weak sectors were: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.00%, Computer
Technology
(
XTC.X |
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Chart |
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PowerRating) -0.59%, Semis
(
SOX.X |
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Chart |
News |
PowerRating) -0.33%.
Â
| Dow | +17.07 | 10,621.03 |
| S&P 500 | +4.05 | 1190.04 |
| Nasdaq | +8.43 | 2,097.04 |
The dollar was +0.33 at
83.31
Crude Oil was +1.42 at
46.85
Gold was +.50 to 419.80
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 2012 | Up Vol 837 |
| Declining | 1320 | Down Vol 522 |
| 1.52 | 1.60 | |
| Nasdaq |
||
| Advancing | 1703 | Up Vol 827 |
| Declining | 1416 | Down Vol 1115 |
| 1.20 | 1.34 |
Stocks in the News
Walgreen
(
WAG |
Quote |
Chart |
News |
PowerRating) was the subject of a positive article in Barron’s
which said the stock could hit $50 in 12 months.
Diebold
(
DBD |
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Chart |
News |
PowerRating) was the subkect of a positive article in Barron’s.
Alcoa
(
AA |
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Chart |
News |
PowerRating) will report after the close; analysts are looking for 0.41.
American Pharmaceutical
(
APPX |
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Chart |
News |
PowerRating) said the FDA approved Abraxane,
for breast cancer.
Genentech
(
DNA |
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Chart |
News |
PowerRating)Â will report after the close; analysts are
looking for 0.22.
Brice Wightman