Bulls Take Control; Cisco Earnings Rise 25%

  • August 8, 2007
  • Darren Wong

Bulls took control this morning on the back of Cisco Earnings and
after Fed comments yesterday that assured them the economy will
continue to grow as forecast. Cisco reported quarterly profit that
grew by 25% and raised its revenue for next year. Shares added
5.7%.

Crude oil futures for September delivery fell
fractionally to $72.03 a barrel after the Energy Department
reported a draw of -4136K barrels. Gold futures for December
delivery rose 0.5% to $685.70 an ounce on Euro strength
today. Gold has been pegged to the Euro in recent months.


Around Asia, Shanghai’s Composite rose 0.3% to 4,663.16, Hong
Kong’s Hang Seng added nearly 3% to 22,536.67, and Tokyo’s Nikkei
index rose 0.6% to 17,029.28.

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Stocks in Motion

Cisco
(
CSCO |
Quote |
Chart |
News |
PowerRating) Q4 Earnings Rise, Top Estimate; Boosts Long-term
Revenue Growth Forecast; CFO Powell To Retire (full
story). CSCO shares jumped 5.7%.

Sprint Nextel
(
S |
Quote |
Chart |
News |
PowerRating) Q2 Profit Plunges On Higher Costs; Revenue Up 2%;
Backs FY07 Revenue Forecast (full
story). S shares rose 0.5%.

Hospira
(
HSP |
Quote |
Chart |
News |
PowerRating) Q2 Profit Drops 43% On Acquisition Costs, Backs FY07
Adj. EPS Target, Cuts Higher End Of FY07 Revenue Estimate (full
story). HSP shares gained 0.3%.

Fluor
(
FLR |
Quote |
Chart |
News |
PowerRating) Q2 Profit Jumps 43%; Boosts FY07 EPS Outlook Above
Consensus (full
story). FLR shares added 2.6%.



Market Snapshot



Dow

 +94.46 13,598.76


NASDAQ

 +45.16 2,606.76


S&P 500

 +15.57 1,492.28


NYSE NASDAQ


Volume

 1,889,530,000 1,317,235,000


Advances

 2322 2119


Declines

 848 820


Up Volume

 1376 933


Down Volume

 303 275


New Highs

 118 175

New Lows

 361 308




Strongest/Weakest Industry Groups



Strongest Industries

Weakest Industries
Gold Healthcare
Telecom Healthcare
Information Services
Investment
Brokerage- National		 Medical
Laboratories and Research



Economic
News

Crude inventories showed a draw of
-4136K barrels

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