Big Let Down From Intel, Here’s Who’s On Deck
Stocks
opened weak but turned green this mid-day.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) reported earnings that
jumped 96% to $1.76 billion with revenue up 18%. The company projected Q3
revenue to reach at least $8.6 billion but warned of lower gross margins and
increasing inventory levels. New York Times
(
NYT |
Quote |
Chart |
News |
PowerRating) reported earnings
that rose 3.9% to $75.7 million with revenue up 2.7%. The publisher also warned
of a slowdown in advertising growth.
Bank of America
(
BAC |
Quote |
Chart |
News |
PowerRating) posted
earnings of $3.85 billion, beating estimates by 12 cents with revenue up 35% to
$13.19 billion. The higher profit included a one-time $795 million securities
gain. According to Reuters, Harrah’s Entertainment
(
HET |
Quote |
Chart |
News |
PowerRating) is close to
a deal to purchase Caesars Entertainment
(
CZR |
Quote |
Chart |
News |
PowerRating) for about $10 billion.
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) and Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating) are expected to report earnings after the bell today with earnings
of 9 and 15 cents.
| Dow | +11.93 | 10259.79 |
| S&P 500 | +1.83 | 1116.97 |
| Nasdaq | -2.44 | 1928.10 |
Strong today are:
Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) +2.72%, Healthcare
Provider
(
RXH.X |
Quote |
Chart |
News |
PowerRating) +2.18%,
BiotechsÂ
(
BTK.X |
Quote |
Chart |
News |
PowerRating) +1.74%,
Weak today are:
Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) -3.57%,
Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.00%.
Economic news release include
export prices ex-ag that fell 0.1%, import prices ex-oil was unchanged. Retail
sales dropped 1.1% and retail sales ex-autos dipped 0.2%.
10-year Notes are -30 at
110
The dollar
is -0.21 at 87.80
Gold is +2.90 at 406.50
Crude Oil is +0.25 at
39.35
Volume is 680 million on
the NYSE, and 1,010 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1851 | Up Vol 394 |
| Declining | 1220 | Down Vol 278 |
| Ratio | 1.51 | 1.42 |
| Nasdaq |
||
| Advancing | 1488 | Up Vol 460 |
| Declining | 1405 | Down Vol 600 |
| Ratio | 1.06 | 1.30 |
Top Dow stocks are:
McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating),
+4.03%, Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating), +2.50%, 3M
(
MMM |
Quote |
Chart |
News |
PowerRating), +1.35%, Johnson & Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating),
+1.27%
Stocks in the news:
McDonalds
(
MCD |
Quote |
Chart |
News |
PowerRating) said they expect
earnings of 47 cents a share with same-store sales climbing 7.8% — the highest
second quarter same-store sales since 1987.
Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating)
surged after surprising Wall Street with earnings of 8 cents a share on sales of
$306.9 million. The company also upped its second half of the year sales to $765
million.
Genzyme
(
GENZ |
Quote |
Chart |
News |
PowerRating) reported earnings of $78.2
million with revenue up at $549.6 million. The company also raised FY earnings
to $1.75 a share.
Ericsson
(
ERICY |
Quote |
Chart |
News |
PowerRating) rose after getting a $210
million deal to supply GSM equipment to Swedish telecom VimpelCom
(
VIP |
Quote |
Chart |
News |
PowerRating).
Brice Wightman
bricew@tradingmarkets.com