Breaking News On Pfizer… Here’s What Happened

• February 18, 2005
• Brice Wightman

Stocks are treading
water today. 
Ahead of the long weekend, equities are slightly in the red as more
disappointing economic data continue to feed rate hike fears.

Producer prices in January rose 0.3% as expected.  However the Core PPI,
which strips out food and energy, rose 0.8% versus estimates of  0.2%. Next
Tuesday, we will get the CPI numbers which should shed more light on the
inflation picture.  Lastly the University of Michigan’s Sentiment index
fell to a reading of 94.2 versus consensus of 95.5.

Shares of Pfizer are higher by 2.1%.  Despite acknowledging that
Celebrex could cause heart risk, the FDA approved Celebrex’s use and is allowing
the drug to stay on the market.

Strong sectors are: Energy
(
$DXE.X |
Quote |
Chart |
News |
PowerRating)
+1.98%    Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) +1.88% 
Pharmaceuticals
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) +0.88%

Weak sectors are:  Broker/Dealers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating) -1.71%  Utilities
(
$UTY.X |
Quote |
Chart |
News |
PowerRating) -1.28%   Banks
 
(
$BIX.X |
Quote |
Chart |
News |
PowerRating)
-1.26% 

Dow		10,751.23
S&P 500		1200.31
Nasdaq		2059.20

The dollar is 
+0.09 at 83.56

Crude Oil is +0.73 at
48.95

Gold is +0.50 to 426.80

ce=”Arial” size=”2″ face=”Arial”>Volume is 766 million on the NYSE and
853 Million on the Nasdaq.

Market breadth is negative.

NYSE	Issues
Advancing	1165	Up Vol 348
Declining	2031	Down Vol 403
	1.74	1.16
Nasdaq
Advancing	1262	Up Vol  396
Declining	1653	Down Vol 444
	1.31	1.12

Stocks in the News

Intuit Inc
(
INTU |
Quote |
Chart |
News |
PowerRating) reported 82 cents
per share earnings, exceeding consensus by six cents.

Akamai Technologies
(
AKAM |
Quote |
Chart |
News |
PowerRating)  announced revenue of $57.6 million.
Analysts were expecting $55.9 million.

Qwest is considering to submit a new offer for MCI Inc
(
MCIP |
Quote |
Chart |
News |
PowerRating) after
studying Verizon agreement.

NETGEAR Inc
(
NTGR |
Quote |
Chart |
News |
PowerRating) released higher than expected earnings of 23
cents a share, but revenue did not meet expectations. 

NVIDIA Corp
(
NVDA |
Quote |
Chart |
News |
PowerRating) announced earnings of 27 cents a share. It was
five cents better than expected.

 

 

 

Brice Wightman