All Eyes On Intel–Here’s Why
Stocks are higher on
lower oil prices, but gains are tempered by disappointing retail
sales figures. The Dow still is managing to make a a nine-month high. Oil is
down $6 (12%) in three days.
Retail is in focus as same store sales came out
today. 60% of the companies reporting retail sales were below expectations. One
notable exception was Starbucks
(
SBUX |
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PowerRating), which saw same store sales
rise 13%, much more than expected. Pier One
(
PIR |
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PowerRating) said sales fell
more than expected at 9.1%; the company also lowered its Q3 guidance.
Wal-Mart
(
WMT |
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PowerRating) same store sales rose 0.7%. Ann Taylor
(
ANN |
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PowerRating)
cut their forecast substantially. American Eagle Outfitters
(
AEOS |
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Chart |
News |
PowerRating)
said same store sales rose 24.3% in November. Limited Brands
(
LTD |
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News |
PowerRating)
sales fell 5%; the Street was expecting a gain.
Jobless claims for the week of 11/27 rose 25,000
to 349,000, more than expected the 4-week moving average rose 4,250 to 336,500
Continuing claims fell 20,000 to 2.723 million.
Intel
(
INTC |
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Chart |
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PowerRating) will announce its
mid-quarter update after the close. Analysts expect the company to guide to the
upper end of the range and will be focusing on demand and inventory. The
consensus is 0.28 and sales of $8.97 billion.
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating)
+1.08%, Internet
(
GIN.X |
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News |
PowerRating) +1.90% and Biotech
(
BTK.X |
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Chart |
News |
PowerRating)
+1.63%.
Weak sectors are: Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating)
-3.10%, Natural Gas
(
XNG.X |
Quote |
Chart |
News |
PowerRating) -2.82% and Oil
(
XOI.X |
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Chart |
News |
PowerRating)
-2.65%.
| Dow | +13.23 | 10603.45 |
| S&P 500 | +1.64 | 1192.61 |
| Nasdaq | +7.41 | 2145.68 |
The dollar is +0.38 at
81.94
Gold is -5.80 to 449.80
Crude Oil is -2.54 at 42.95
1.3 billion on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1347 | Up Vol 404 |
| Declining | 1808 | Down Vol 359 |
| Ratio | 1.34 | 1.12 |
| Nasdaq |
||
| Advancing | 1640 | Up Vol 828 |
| Declining | 1314 | Down Vol 304 |
| Ratio | 1.24 | 2.72 |
Stocks in the News.
Alliant Techsystems
(
ATK |
Quote |
Chart |
News |
PowerRating) was awarded a mortar munitions contract
by the U S Army.
Curagen’s
(
CRGN |
Quote |
Chart |
News |
PowerRating) mucositis treatment was granted fast track
status by the FDA.
Today in History
1927 Model A debuted. Price $385
1939 New York’s La Guardia airport opens
1969 Boeing 747 publicly previewed
Brice Wightman