Dell’s Results: What Does This Mean For Friday’s Trading?
Stocks tumbled–with the Dow down by triple
digits–as lowered guidance from Wal-Mart outweighed good economic data.
Retail sales surged 1.4%, double the expectation and the biggest gain
since September. Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating), however, missed by a penny at 0.55.
Q1 sales rose 9%. The company said it now sees Q2 at 0.63 –
0.67…”challenging.” Wal-Mart blamed wet weather and higher gas prices.
Trader talk: Is the growth trade over? Wal-Mart’s guidance casts doubt on the
consumer growth story. One NYSE trader was heard to way “I believe Wal-Mart over
the retail sales report.”
Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) reported 0.37, in-line; revenues were in-line .
Kohl’s
(
KSS |
Quote |
Chart |
News |
PowerRating) missed by a penny but reaffirmed guidance. Nvidia
(
NVDA |
Quote |
Chart |
News |
PowerRating)
beat by 0.08.
Crude oil traded near an 11-week low; crude is off $5 this week.
Energy stocks were lower. ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating) lost 4%. Copper fell, with
producer Phelps Dodge
(
PD |
Quote |
Chart |
News |
PowerRating) down 6.3%.
Moody’s cut Ford debt to BAA2 from A3; the lowest investment grade
rating.
Urban Outfitters
(
URBN |
Quote |
Chart |
News |
PowerRating) beat by 0.02. Sales rose 36%.
FedEx
(
FDX |
Quote |
Chart |
News |
PowerRating) reaffirmed Q4 guidance.
Mylan Labs
(
MYL |
Quote |
Chart |
News |
PowerRating) beat by 0.02.
Napster
(
NAPS |
Quote |
Chart |
News |
PowerRating) beat estimates by 0.03 although the Q4 loss grew
almost fourfold from a year ago. This, despite a tripling in revenues.
Strong sectors were: Â SemisÂ
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) +0.29%Â Â Â
Weak sectors were:Â Â Oil Services
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) -4.54% Â Â
Natural Gas
(
$XNG.X |
Quote |
Chart |
News |
PowerRating) -3.79%Â Â Â Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating)
-3.68% Â Â
Dow | -111.21 | 10,189.04 |
Nasdaq | -7.67 | 1963.88 |
S&P 500 | -11.79 | 1159.32 |
The dollar was +0.56 at
85.51
Crude Oil was -1.76 at
50.19
Gold was -4.90 at 421.80
ce=”Arial” size=”2″ face=”Arial”>Volume was 1.57 billion on the NYSE and 1.75
billion on the Nasdaq.
Market breadth was negative.
NYSE | Issues | |
Advancing | 926 | Up Vol 380 |
Declining | 2371 | Down Vol 1402 |
2.56 | 3.68 | |
Nasdaq |
||
Advancing | 1124 | Up Vol 755 |
Declining | 1906 | Down Vol 881 |
1.69 | 1.16 |
Brice Wightman
Â
Â
Â
Â