Chip Stocks In Focus, Here’s One To Watch For
Stocks are staging a
strong rally. Â Equities are just off session highs despite some
early morning weakness brought on by worries about Dell’s first quarter sales.
Nearly all sectors are in the green with the exception of utilities.Â
Semiconductor stocks are leading the pack. Positive comments regarding their
strong demand and lower dependence from just Personal Computers and increasing
demand from gadgets such as portable music players, cell phones, and well as
demand from the auto industry are helping the rally in chip stocks. Shares
of Intel
(
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PowerRating), the world’s largest chip company, are once again trading
above it’s 200 day moving average. The stock has been below this benchmark
line since last March.
Strong sectors are: Semiconductors
(
$SOX.X |
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PowerRating) +2.96%Â
Gold Bugs
(
$HUI.X |
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PowerRating) +2.91%Â Gold & Silver
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PowerRating)
+2.22%.
Weak sectors are:Â Utility
(
$UTY.X |
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PowerRating) -0.20%Â Â
Dow | 10,809.31 | |
S&P 500 | 1206.27 | |
Nasdaq | 2072.58 |
The dollar is -0.16 at
84.41
Crude Oil is +0.00 at
47.10
Gold is -+2.80 to 420.80
ce=”Arial” size=”2″ face=”Arial”>Volume is 627 million on the NYSE and
98 million on the Nasdaq.
Market breadth is positive.
NYSE | Issues | |
Advancing | 2025 | Up Vol 747 |
Declining | 1071 | Down Vol 234 |
1.89 | 3.19 | |
Nasdaq |
||
Advancing | 1771 | Up Vol 509 |
Declining | 1115 | Down Vol 117 |
1.59 | 4.35 |
Stocks in the News
Dell Inc [DELL|DELL reported earnings
indicated soft sales and offered a disappointing outlook.
Pfizer Inc
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PowerRating) plans to reduce nearly $2 billion to overhaul the
way to market its drugs to doctors.
Veeco Instruments
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PowerRating) is postponing its audited fourth quarter
results due to an investigation in its TurboDisc unit.
Pixar
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PowerRating) reported a better than expected profit of 91 cents per
share.
Ebay Inc
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PowerRating) said it
sees lower new capital expenditures this year than it had earlier forecast.
Â
Brice Wightman