All Eyes On Cisco–Here’s What To Expect
Stocks are lower on higher oil prices.
The day started off with $52 oil, but a power outage at a
ConocoPhillips
(
COP |
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News |
PowerRating) refinery in Louisiana send oil prices above $53.
Disney
(
DIS |
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Chart |
News |
PowerRating)
may be in focus as Stanley Gold and Roy Disney are suing the company for
fraud regarding the CEO selection process. The suit seeks a new vote.
Cisco
(
CSCO |
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News |
PowerRating) reports after the bell. Estimates are 0.22 with
revenues of $6.15 billion. The whisper number is 0.23.
Toll Bros.
(
TOL |
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Chart |
News |
PowerRating) reported a record backlog with Q2 contracts +38%
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) is selling planes to Japan Airlines in a $5.3 billion
deal. Also of note: the Paris Air Show is on June 13–Boeing tends to do well
just prior to the show.
Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating) said Bextra is likely to return to the market.
Warner Music IPO (WMG) is pricing tonight, between $19-20, down from
$22-24. New Skies (NSE) is trading today. It was priced at 16.50
and is trading at 16.29.
The Wall Street Journal says that
hedge funds are hitting a rough patch. Hedge funds’ performance is -1.8% on
average this year vs. the S&P 500 performance of -4.5%. The Journal
estimates there are 8000 hedge funds today vs. 4800 in 2001.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) is selling planes to Japan Airlines in a $5.3 billion
deal. Also of note: the Paris Air Show is on June 13–Boeing tends to do well
just prior to the show. GE Commercial will purchase 6 737 airliners for $330
million
Today after the bell, look for Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) to report. Estimates
are 0.22 with revenues of $6.15 billion. The last 2 quarters, CSCO came in light
on sales.
Cray Research may potentially be de-listed at Nasdaq. New symbol:
CRAYE.
Pac-Man turns 25! The game, popular in the early ’80s, has generated
more than $100 million in sales—one quarter at a time.
Strong sectors are: Â BiotechÂ
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) +1.56%Â Â Â
Weak sectors are:Â Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) -2.85%Â Â Â
Brokers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) -1.95%Â
| Dow | -78.62 | 10,305.72 |
| Nasdaq | -16.07 | 1963.60 |
| S&P 500 | -10.59 | 1168.25 |
The dollar is -0.15 at
84.49
Crude Oil is +1.02 at
53.50
Gold is +1.10 at 427.80
696 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1101 | Up Vol 159 |
| Declining | 2110 | Down Vol 551 |
| 1.91 | 3.46 | |
| Nasdaq |
||
| Advancing | 890 | Up Vol 177 |
| Declining | 1927 | Down Vol 456 |
| 2.16 | 12.57 |
Stocks In The News
GM announced its
regular .50 quarterly dividend. There is speculation this may be cut. GM yields
7% at current levels.
El Paso
(
EP |
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Chart |
News |
PowerRating) missed by 0.06.
Priceline (PCLN)
beat by a penny.
Diagnostic Products
(
DP |
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Chart |
News |
PowerRating) missed by 0.07 and revenues were light.
Delta Airlines
(
DAL |
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Chart |
News |
PowerRating) said it expects a large loss for 2005.
Brice Wightman
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