Deal With Wal-Mart Ignites This Stock
Stocks are flat on mixed economic reports.
Jobless claims for the week of 5/14 fell 20,000–more than expected–to
321,000. The 4-week moving average rose 5000 to 29,750. Leading indicators fell
in April, by -0.2%, and the fourth month in a row.
Netflix
(
NFLX |
Quote |
Chart |
News |
PowerRating) will team up with Wal-Mart to co-promote
DVD sales and rentals. Currently, 35% of all DVDs are sold through Wal-Mart.
Netflix will promote Wal-Mart DVD sales to its subscribers and Wal-Mart will
offer its online customers the chance to sign up with Netflix. NFLX is up up
15%.
Teva
Pharmaceutical’s (TEVA)
generic version of Biaxin was granted final approval by the FDA.
Men’s Wearhouse
(MW)
beat by 0.16, guided higher and announced a 3:2 stock split.Â
Cyberonics
(
CYBX |
Quote |
Chart |
News |
PowerRating) if lower after it confirmed that it received a
letter from the Senate Finance Committee, which is examining the FDA’s handling
of a depression treatment.
Greenspan spoke before the Atlanta Federal Reserve BankÂ
Boise Cascade withdrew its IPO, citing adverse market conditions.
Strong sectors are: Â Oil Services Â
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) +1.73%Â Â
InternetÂ
(
$GIN.X |
Quote |
Chart |
News |
PowerRating) +1.02%Â Â Natural Gas
(
$XNG.X |
Quote |
Chart |
News |
PowerRating)
+1.02%Â Â
Weak sectors are:Â Â Â Â Gold
(
$HUI.X |
Quote |
Chart |
News |
PowerRating)
-1.46% Â Chemicals
(
$CEX.X |
Quote |
Chart |
News |
PowerRating) -0.58%Â Â DrugsÂ
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) -0.57%Â Â
| Dow | -7.32 | 10,457.13 |
| Nasdaq | +6.22 | 2036.87 |
| S&P 500 | +1.76 | 1187.32 |
The dollar is +0.30 at
86.12
Crude Oil is -0.57 at
49.70
Gold is -2.20 at 420.20
729 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1785 | Up Vol 420 |
| Declining | 1239 | Down Vol 262 |
| 1.44 | 1.60 | |
| Nasdaq |
||
| Advancing | 1516 | Up Vol 485 |
| Declining | 1305 | Down Vol 183 |
| 1.16 | 2.65 |
Stocks in the News
Ann Taylor
(
ANN |
Quote |
Chart |
News |
PowerRating) was in-line and said margins continue under
pressure. Net income fell 46%.
Footlocker
(
FL |
Quote |
Chart |
News |
PowerRating) missed by a penny
Petsmart
(
PETM |
Quote |
Chart |
News |
PowerRating) beat by 0.04 and guided higher.
Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) will increase services aimed at business customers
Motorola’s
(
MOT |
Quote |
Chart |
News |
PowerRating) board authorized the repurchase of $4 billion of
the company’s stock over the next three years.
Kerr McGee
(
KMG |
Quote |
Chart |
News |
PowerRating) will buy back 47 million shares in a dutch
auction.
Brice Wightman
Â
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