All Eyes On EBAY. Here’s What To Expect
Stocks are lower as traders balance benign inflation
data and strong economic numbers with mixed guidance and earnings.Â
Pfizer
(
PFE |
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PowerRating) missed by a penny at 0.58; quarterly revenue rose 7%.
Yahoo
(
YHOO |
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PowerRating) reported 0.13, beating by 0.02 on $1.08
billion in revenues (up 68%).
Motorola
(
MOT |
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PowerRating) beat by 0.04; revenues were up but margins were
less than expected at 33.6%. Â
Advanced Micro Devices
(
AMD |
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PowerRating) missed by 3 cents; revenue was $1.26
billion, in-line.
IBM beat by 0.05, reporting $1.81 on $27.7 billion in revenue. Revenue
rose 6.8% year/year and gross margins were 39.2%.
JP Morgan
(
JPM |
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Chart |
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PowerRating) missed by 0.04.
December consumer prices fell 0.1%, led by lower gas prices. Jobless claims
fell 48,000 to 319,000 to the lowest level in 5 weeks and the largest decline in
5 years. The 4-week moving average fell 3,000 to 341,000. December housing
starts rose 10.9% to an annualized rate of 2 million units.
Homebuilders are strong. Mortgage rates have fallen to 5.64%,
Ryland
(
RYL |
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PowerRating) guided higher and Toll Brothers [TOL|TOL} target was
raised at Merrill Lynch
eBay
(
EBAY |
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PowerRating) will report after the close; the consensus estimate
is 0.34 and revenue of $519. Analysts estimate that 405 million items were
posted on eBay last quarter.
Tomorrow before the open, look for earnings from Citigroup (est.
$1.02), Reynolds & Reynolds (est. $0.26) and United Health (est.
$1.08).
Strong sectors are: Oil Services
(
OSX.X |
Quote |
Chart |
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PowerRating) +0.91%, Natural Gas
(
XNG.X |
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Chart |
News |
PowerRating)
+0.29%, Healthcare Providers
(
HMO.X |
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Chart |
News |
PowerRating) +0.13%.
Weak sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -2.33%, Computer Tech
(
XCI.X |
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Chart |
News |
PowerRating) -1.36%, Semis
(
SOX.X |
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PowerRating) -1.16%.
Â
| Dow | -44.35 | 10,584.23 |
| S&P 500 | -5.97 | 1190.01 |
| Nasdaq | -18.03 | 2088.01 |
The dollar is +0.06 at
83.42
Crude Oil is -0.38 at
48.10
Gold is +0.50 to 422.80
1.03 billion on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1514 | Up Vol 223 |
| Declining | 1659 | Down Vol 394 |
| 1.09 | 1.76 | |
| Nasdaq |
||
| Advancing | 1078 | Up Vol 263 |
| Declining | 1847 | Down Vol 712 |
| 1.71 | 2.70 |
Stocks in the News
General Motors
(
GM |
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PowerRating) beat by 0.10, reporting 1.09 vs 0.91 estimate,
but profits were lower.
Southwest Airlines
(
LUV |
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PowerRating) missed by 0.01, citing record high fuel
costs.
Rambus
(
RMBS |
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PowerRating) missed by 0.02, citing high litigation costs.
Juniper
(
JNPR |
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PowerRating) beat by a penny; Q4 profit jumped four-fold.
Fannie Mae will cut its dividend in half, to 0.26.
Brice Wightman
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