Are You Watching The 10-Year Note?
Stocks are mixed Thursday,
with technology leading, boosted by a good report from eBay.
eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) beat by a penny. Q3 net
rose 77% as listings rose and PayPal expanded to Europe.EBAY is up 7% at 97.75.
Initial claims for the week of 10/16 fell by
25,000 to 329,000; the 4-week moving average is 348,250 .Continuing claims fell
to 2.7 million from 2.8 million. Leading economic indicators fell -0.1%,
less than expected. It was the fourth straight month of declines. The Philly Fed
index rose to 28.5 in October, more than expected.
Sears
(
S |
Quote |
Chart |
News |
PowerRating) reported a loss of (0.29); the
estimate was 0.01. The company saw the largest sales decline in 8 years, posting
a Q3 loss of $61 million.
AIG
(
AIG |
Quote |
Chart |
News |
PowerRating) missed by a penny. Revenue rose 25%. The company said
they’ve seen no slowdown in business since the Spitzer investigation was
launched last week.
Caterpillar’s
(
CAT |
Quote |
Chart |
News |
PowerRating) earnings more than doubled.
Eli Lilly
(
LLY |
Quote |
Chart |
News |
PowerRating)
reported 0.69 and said it will cut 1,000 jobs and will take a restructuring
charge of 0.19 -0.24 in Q4.
Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) reported 0.60 vs. 0.83 a year ago. The company said
Vioxx will affect earnings by 0.50 -0.55 this year, and also said over 300 Vioxx
lawsuits have been filed and expect more.
The 10-year note made its lowest yields in over 6
months.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) will report after the close; the estimate is 0.30.
| Dow | -61.58 | 9825.35 |
| S&P 500 | -2.37 | 1101.29 |
| Nasdaq | +3.61 | 1936.58 |
Strong sectors are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +2.76%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +2.22%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+1.98%.
Weak sectors are:Â Healthcare Providers
(
HMO.X |
Quote |
Chart |
News |
PowerRating) -1.31%, Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating)
-2.01%, Health Care
(
HCX.X |
Quote |
Chart |
News |
PowerRating), -1.13%.
10-year notes are: +010
at 113 210
The dollar is -0.32 at
86.03
Gold is -1.00 at 423.20
Crude Oil is +0.07 at 54.48
988 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 2036 | Up Vol 465 |
| Declining | 1039 | Down Vol 265 |
| Ratio | 1.95 | 1.75 |
| Nasdaq |
||
| Advancing | 1494 | Up Vol 649 |
| Declining | 1307 | Down Vol 267 |
| Ratio | 1.14 | 2.43 |
Stocks in the News
Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) beat by 0.02 and raised 2004 earnings and revenue
guidance.
AT&T
(
T |
Quote |
Chart |
News |
PowerRating) posted a $7.1 loss due to a write-down.
Xerox
(
XRX |
Quote |
Chart |
News |
PowerRating) reported 0.11 vs. 0.17 a year ago.
Altera
(
ALTR |
Quote |
Chart |
News |
PowerRating) beat by 0.04.
Chiron
(
CHIR |
Quote |
Chart |
News |
PowerRating) reported non-GAAPÂ of 0.26.
DeVry
(
DV |
Quote |
Chart |
News |
PowerRating) missed by 0.08 and was light on revenues.
STMicroelectronics
(
STM |
Quote |
Chart |
News |
PowerRating) beat by 0.03 and cut guidance.
Primeris Airlines will buy 20 Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) 7E7s and 20 737s.
Colgate
(
CL |
Quote |
Chart |
News |
PowerRating) goes to a buy from neutral at Merrill Lynch.
Symantec
(
SYMC |
Quote |
Chart |
News |
PowerRating) reported 0.41 vs. a 0.39 estimate and announced a
2:1 stock split.
SBC
(
SBC |
Quote |
Chart |
News |
PowerRating) was 0.38, in-line.
Brice Wightman