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
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, 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
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reported 0.37, in-line; revenues were in-line .
Kohl’s

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missed by a penny but reaffirmed guidance. Nvidia
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beat by 0.08.

Crude oil traded near an 11-week low; crude is off $5 this week.
Energy stocks were lower. ExxonMobil
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lost 4%. Copper fell, with
producer Phelps Dodge
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down 6.3%.

Moody’s cut Ford debt to BAA2 from A3; the lowest investment grade
rating.

Urban Outfitters
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beat by 0.02. Sales rose 36%.

FedEx
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reaffirmed Q4 guidance.

Mylan Labs
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beat by 0.02.

Napster
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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:   Semis 
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+0.29%   

Weak sectors were:   Oil Services
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-4.54%   
Natural Gas

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-3.79%    Oil
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-3.68%    

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

 

 

 

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