China’s New Policy: Here Are The Stocks Potentially Impacted
Stocks are lower as the market digests recent gains.
US Air and
America West are merging. The combined company–creating the nation’s
sixth largest carrier–will be called US Airways and run by America Wests’
Douglas Parker.
Gap Inc.
(
GPS |
Quote |
Chart |
News |
PowerRating) beat by a penny and raised its 2005 view.
Ford’s debt is still investment grade, per Fitch.
Sharper Image (SHRP)
beat by a penny but was light on revenues. The company guided lower. The stock
was halted after the close.Â
OPEC said it may decrease output if global inventories rise too fast.
China is raising the tariff on textile exports–1 yuan per unit (about
0.12). This means Chinese companies would have to pay more to export to the
U.S.–and that American consumers will ultimately pay more. retailers This could
be a negative for companies like Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) and Target
(
TGT |
Quote |
Chart |
News |
PowerRating),
as well as Nike
(
NKE |
Quote |
Chart |
News |
PowerRating), Federated
(
FD |
Quote |
Chart |
News |
PowerRating), May
(
MAY |
Quote |
Chart |
News |
PowerRating),
Jones
(
JNY |
Quote |
Chart |
News |
PowerRating).
The dollar is trading at a 7-month high vs. the euro.
Fund flows: last week saw the biggest outflows since January 2000; energy was
the biggest loser.
Strong sectors are: Â Airlines Â
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) +0.28%Â Â
Semis
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) +0.24%Â Â Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)
+0.15%Â Â
Weak sectors are:Â Â Gold
(
$HUI.X |
Quote |
Chart |
News |
PowerRating) -1.48% Â
Chemicals
(
$CEX.X |
Quote |
Chart |
News |
PowerRating) -1.22%Â Â RetailÂ
(
$RLX.X |
Quote |
Chart |
News |
PowerRating)
-0.94%Â Â
| Dow | -48.02 | 10,445.17 |
| Nasdaq | -4.07 | 2038.51 |
| S&P 500 | -4.35 | 1186.73 |
The dollar is +0.261 at
86.70
Crude Oil is +0.01 at
48.75
Gold is -3.40 at 416.90
694 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 883 | Up Vol 151 |
| Declining | 2156 | Down Vol 469 |
| 2.445 | 3.10 | |
| Nasdaq |
||
| Advancing | 990 | Up Vol 310 |
| Declining | 1769 | Down Vol 321 |
| 1.78 | 1.03 |
Stocks in the News
Autodesk (ADSK)
beat by 0.2 and guided higher.
Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating) is instituting a 0.20 annual dividend
Carmax
(
KMX |
Quote |
Chart |
News |
PowerRating) narrowed its Q1 range to 0.35 – 0.36.
Maytag is going private–being acquired by Ripplewood Holdings for
$1.25 billion or $14/share
Marvell (MRVL)
beat by 0.02.
Serena (SRNA)
beat by 0.01.
Brocade (BRCD)
was in-line, ex-items.
Brice Wightman
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