Do You Own Any Of These Hot Growth Stocks?
Stocks were higher in light pre-holiday trading,
with all three indices at 2-month highs. For the week, the Dow rose
0.8%, S&P 500, 0.9% and the Nasdaq, +1.5%. For the month of May, the Nasdaq rose
8%; Intel rose 16% and Google rose 20%. Crude rose 6.6% for the week. Year to
date, the Dow is off 2.2% and the Nasdaq is off 4.6%.
Saudi Arabia’s 85-year old King Faud is in a Riyadh hospital in
very serious condition. The Kingdom is in a state of high alert. Traders will be
watching the transition, especially as it affect oil prices. The country has
been ruled by Crown Prince Abdullah since 1995, when King Faud had a stroke.
Personal income for April rose 0.7%, in-line. Personal spending rose 0.6%,
slightly less than expected. Year over year, the core PCE rose +1.6%.
TiVo
(
TIVO |
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Chart |
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PowerRating) beat by 0.10.
Computer Associates
(
CA |
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News |
PowerRating) was in-line, ex-items. The company will
restate earnings. Legg Mason downgraded the stock to ‘hold from ‘buy.’
Tech Data
(
TECD |
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Chart |
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PowerRating) missed by 0.04 and guided lower.
Ford
(
F |
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PowerRating) says sales in China should rise 50% this year.
Fedex
(
FDX |
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PowerRating) raised its quarterly dividend to 0.08/share.
Merrill Lynch said steel stocks are attractive, especially Nucor
(
NUE |
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PowerRating)
and US Steel
(
X |
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PowerRating). Separately, Merrill upgraded LSI Logic
(
LSI |
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PowerRating).
Can Viagra use make you blind? The FDA has
received 50 reports, mainly from men who are diabetic and have heart disease.
The Pfizer
(
PFE |
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Chart |
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PowerRating) drug has been taken by 23 million men and accounts
for 3% of the company’s revenues. Pfizer said there is no evidence that using
the drug causes the rare blindness events. PFE is down over 2% and is dragging
the Dow down.
Thirty-one million Americans will hit the road this weekend; the American
Automobile Association reports that gas prices are 6 cents higher than this
time last year.
Business Week’s Top Hot Growth Stocks include: COGT, TSRA, USNA,
PMTI and ARO.
Northwest Airlines has pulled the pretzels on all its flights!
Strong sectors were: Gold
(
$XAU.X |
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Chart |
News |
PowerRating)
+3.71% Natural Gas
(
$XNG.X |
Quote |
Chart |
News |
PowerRating) +1.57%
Oil
(
$XOI.X |
Quote |
Chart |
News |
PowerRating) +1.44%
Weak sectors were: Semis
(
$SOX.X |
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Chart |
News |
PowerRating)
-0.73% Software
(
$GO.X |
Quote |
Chart |
News |
PowerRating) -0.41%
Homebuilders
(
$HGX.X |
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Chart |
News |
PowerRating) -0.30%
Dow | +6.21 | 10,543.81 |
Nasdaq | +4.69 | 2075.93 |
S&P 500 | +1.25 | 1198.87 |
The dollar was -0.21 at
86.64
Crude Oil was +0.84 at
51.35
Gold was +1.80 at 419.60
ce=”Arial” size=”2″ face=”Arial”>Volume was 1 billion on the NYSE and
1.25 billion on the Nasdaq.
Market breadth was positive.
NYSE | Issues | |
Advancing | 2232 | Up Vol 778 |
Declining | 1000 | Down Vol 414 |
2.23 | 1.87 | |
Nasdaq |
||
Advancing | 1663 | Up Vol 615 |
Declining | 1326 | Down Vol 506 |
1.25 | 1.21 |
Stocks in the News
Biovail
(
BVF |
Quote |
Chart |
News |
PowerRating) received tentative FDA approval for sleep disorder
tablet Zolpidem.
Ashworth
(
ASHW |
Quote |
Chart |
News |
PowerRating) missed by 0.06.
Ditech
(
DITC |
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Chart |
News |
PowerRating) warned for Q1; the company received several
downgrades today.
Delphi
(
DPH |
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Chart |
News |
PowerRating) was downgraded at Calyon, to ‘sell.’ Visteon
(
VC |
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Chart |
News |
PowerRating) was upgraded to ‘buy.’
The FDA OK’d Abbot’s
(
ABT |
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News |
PowerRating) Zemplar tablets.
CIBC upped Four Seasons
(
FS |
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PowerRating) to ‘outperform.’
Dreamworks’
(
DWA |
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Chart |
News |
PowerRating) Madagascar is getting poor reviews.
Chico’s
(
CHS |
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Chart |
News |
PowerRating) Q1 profits were up strong.
Brice Wightman