All Eyes On The Fed

Stocks are mixed ahead of the Fed. The
FOMC meets today. A quarter-point rise–to 3.0%–is expected. It will be the
eighth consecutive rate increase. Traders will be watching the language
carefully, particularly the ‘measured pace’ phrase.

Factory orders increased 0.1%, more than expected. Chain store sales for the
week of April 30 rose 0.5% vs a 0.3% decline the previous week. The Challenger
job cuts report came in at the lowest level in almost 5 years.

Career Education
(
CECO |
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PowerRating) beat by a penny

Electronic Data Systems
(
EDS |
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PowerRating) beat by 0.04.

Tyco
(
TYC |
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PowerRating) beat by a penny but warned for 2005.

Las Vegas Sands
(
LVS |
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PowerRating) beat by 0.03; revenues were $404 million,
boosted by the Macao property.

Transocean
(
RIG |
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PowerRating) beat by 0.07.

Safeway
(
SWY |
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PowerRating) beat by 0.04.

Strong sectors are:     Retail
(
$RLX.X |
Quote |
Chart |
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PowerRating) +0.95%   
Airlines
(
$XAL.X |
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PowerRating) +0.89%   Chemicals
(
$CEX.X |
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Chart |
News |
PowerRating)
+0.78%

Weak sectors are:   Oil Services
(
OSX.X |
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Chart |
News |
PowerRating) -1.28%  
Natural Gas
(
$XNG.X |
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PowerRating) -1.17%     Oil
(
$XOI.X |
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News |
PowerRating) -1.16%      

Stocks in the News

Masco
(
MAS |
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PowerRating) guided lower.

Emerson Electric
(
EMR |
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PowerRating) beat by a penny and raised its full-year
outlook.

OshKosh Truck
(
OSK |
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PowerRating) blew away estimates and guided higher, to
$3.85-$4.25 for 2005. 

Protein Design Labs
(
PDLI |
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PowerRating) beat by 0.08.

WebMethods
(
WEBM |
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News |
PowerRating) beat by 0.03.