Big News For Taser — Read On
Stocks are lower
Wednesday after several companies, including Coca-Cola, guided
lower. Coca-Cola
(
KO |
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PowerRating) warned that earnings for the rest of the year would be
below estimates. Xilinx
(
XLNX |
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PowerRating) cut estimates. Tribune
(
TRB |
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PowerRating)
said that Q3 would lag estimates. Goldman cut its view on the hardware
and software sectors, further weighing on the Nasdaq.
Cyclicals were weak, including MMM, -2.28%
and CAT, -1.41%.
Home Depot
(
HD |
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Chart |
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PowerRating) hit a 52-week high.
Florida is the company’s third largest market and many people in hurricane paths
buy generators and lumber from the company.
A NYSE seat sold for $1.2 million, 5%
higher than the last seat sold in August for $1.15 million, which was the lowest
level since 1996. The highest price ever paid was $2.65 million in 1999.
OPEC will boost oil production by 1
million bpd.
Martha Stewart said she wants to start her
prison term as soon as possible.
US Airways has a new symbol: UAIRQ. The
stock will be de-listed from the Nasdaq on September 22 but will still be traded
on the over the counter bulletin board
As of today, Taser International
(
TASR |
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PowerRating)
is selling stun guns online, at their website
www.taser.com. The Taser X26C retails for
$999. The UK — which does not allow most police to carry guns — has approved
the use of stun guns by police. TASR rose 21%, closing at 43.09.
After the close, West Marine
(
WMAR |
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PowerRating)
guided lower.
Tomorrow begins Rosh Hashanah, so look for
lighter volume and potentially more intraday volatility Thursday and Friday. And
don’t forget, this is options expiration week.
| Dow | -86.80 | 10231.36 |
| S&P 500 | -7.96 | 1120.37 |
| Nasdaq | -18.88 | 1896.52 |
Strong today were:
Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating) +1.15%, REITs
(
RMS.X.X |
Quote |
Chart |
News |
PowerRating) +0.61%.
Weak were: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
-3.23%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -1.55%, Airlines
(
XBD.X |
Quote |
Chart |
News |
PowerRating) -1.31%.
10-year Notes were +090 at 113 160
The dollar
was +0.71 at 89.17
Gold was flat at 404.70
Crude Oil was -0.64 at 43.70
Volume was 1.25 billion
on the NYSE and 1.56 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1279 | Up Vol 311 |
| Declining | 1964 | Down Vol 858 |
| Ratio | 1.53 | 2.75 |
| Nasdaq |
||
| Advancing | 1165 | Up Vol 426 |
| Declining | 1878 | Down Vol 1099 |
| Ratio | 1.61 | 2.57 |
Stocks in the News
Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating) beat estimates by a penny.
Best Buy
(
BBY |
Quote |
Chart |
News |
PowerRating) also beat by a penny.
Brice Wightman