Apple Halted…Here’s Why
Stocks were higher as the market rallied nicely into
the close.
Inflows in 2004 have led to profit this year and traders have been reluctant
to take a position until the earnings picture becomes clearer. HMOs and
hospitals are the 2005 leaders do far. The Transports gained 26% in 2004, but
for the first 8 days, they have given back 27% of their gains. Last year the S&P
rose 9% but has dropped 34% so far this year and the Russell 200 has given back
close to half its 2004 gains.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) beat by 0.03, gave an upbeat outlook and said cap ex
would increase more than was expected. Also look at AMAT, KLAC and NVLS today.
UPS warned for Q4, now seeing 75 to 77 cents, down from 83 to 87
cents. Also watch Fedex
(
FDX |
Quote |
Chart |
News |
PowerRating) to trade in sympathy; FDX reaffirmed
its Q3 guidance, though.
The trade deficit for November widened unexpectedly to 60.3 billion, a new
record high. The dollar fell on the news. October was $56 billion.
Mortgage applications fell 3% last week.
Goldman upgraded the telecom equipment sector: CSCO, CIEN and JNPR.
After the close, Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating) reported 0.70 vs a 0.49 estimate,
beating by 0.21. The company sees revenues of $2.9 billion vs the consensus of
$2.75 billion. 1.046 million Macs were shipped, more than the estimated 984,000.Â
At press time, the stock was halted.
Strong sectors were: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +2.39%, Semis
(
SOX.X |
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Chart |
News |
PowerRating)
+1.42%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +2.26%.
Weak sectors were: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -0.66%, Banks
(
BKX.X |
Quote |
Chart |
News |
PowerRating)
-0.58%.
Â
| Dow | +61.56 | 10,617.78 |
| S&P 500 | +4.71 | 1187.70 |
| Nasdaq | +12.91 | 2,092.53 |
The dollar was -0.17 at
82.17
Crude Oil was +0.59 at
46.50
Gold was +3.40 to 425.70
2.2 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 1049 | Up Vol 798 |
| Declining | 1487 | Down Vol 549 |
| 1.41 | 1.45 | |
| Nasdaq |
||
| Advancing | 1606 | Up Vol 1517 |
| Declining | 1504 | Down Vol 515 |
| 1.06 | 2.94 |
Stocks in the News
Amarin
(
AMRN |
Quote |
Chart |
News |
PowerRating) reported positive Phase IIa trial results using
Miraxin for depression.
Coach
(
COH |
Quote |
Chart |
News |
PowerRating) said it will earn at least 0.67; the estimate was
0.66.
Genzyme
(
GENZ |
Quote |
Chart |
News |
PowerRating) said Q4 revenue rose 23%. guided higher
Medicis
(
MRX |
Quote |
Chart |
News |
PowerRating) was raised to a buy at Merrill Lynch.
Hovnanian
(
HOV |
Quote |
Chart |
News |
PowerRating) said it will miss the $1.40 estimate because of
the wet weather in California.
Today In History
1971Â Â “All In The Family” debuted on CBS.
Brice Wightman
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