Are You Trading Any Of These Olympic Stocks?
Stocks are
mixed as the semis lead the tech stocks down after a Bank of America downgrade of
AMD.
Disappointing sales from Krispy Kreme and Starbucks
added to the weakness.
Starbucks
(
SBUX |
Quote |
Chart |
News |
PowerRating) reported its lowest growth in 14 months
and Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating) reported sharply lower
earnings, reporting $0.09 vs a $0.22 estimate. Oil fell below $43, but even that
good news is not getting a positive reception in the market.
Jobless claims jumped unexpectedly, rising 10,000 to
343000. The 4-week moving average is 336,750. Hurricane Charley is being blamed,
in part, for the rise.
Stocks related to the Olympics include: GE
(broadcaster), BUD, T, BAC, CVX, EK, GM, MFC, MC, MCD, KO, TWX, XRX (sponsors).
Novellus
(
NVLS |
Quote |
Chart |
News |
PowerRating) will give its
mid-quarter update after the close; for the June quarter the company gives a
0.40 estimate.
Â
| Dow | -2.80 | 10178.94 |
| S&P 500 | +0.24 | 1105.20 |
| Nasdaq | -4.87 | 1855.85 |
Strong today are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -0.84%, Chemicals
(
CEX.X |
Quote |
Chart |
News |
PowerRating) +0.69%, Homebuilders
(
HGX.X |
Quote |
Chart |
News |
PowerRating) +0.38%.
Weak are: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.08%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -0.90%.
10-year Notes are +085 at 112 255
The dollar
is +0.02 at 89.44
Gold is flat at 406.10
Crude Oil is +0.13 at
43.60
Volume is 490 million on
the NYSE and 594 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1571 | Up Vol 224 |
| Declining | 1514 | Down Vol 219 |
| Ratio | 1.03 | 1.02 |
| Nasdaq |
||
| Advancing | 1113 | Up Vol 197 |
| Declining | 1756 | Down Vol 357 |
| Ratio | 1.57 | 1.81 |
Stocks in the News
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) was lowered at Bank of America.
Estimates were also lowered
on INTC, BRCM, MU, and TXN.
An FDA study showed
that patients who took Merck’s Vioxx had 50% more heart attacks than
patients who took Pfizer’s Celebrex. Merck disputes the findings and will
conduct its own study.
Cyberonics
(
CYBX |
Quote |
Chart |
News |
PowerRating) raised its guidance
after the close.
Taser
(
TASR |
Quote |
Chart |
News |
PowerRating) received purchase orders
for $1 million.
Apollo Group (APOL)
said enrollments for Q1 ’05 would be up 40%.
Cirrus
(
CRUS |
Quote |
Chart |
News |
PowerRating) cut its work force by 7%.
Brice Wightman