Dow Hits A Milestone
Stocks are lower with the Dow breaking 10,000.
Amazon
(
AMZN |
Quote |
Chart |
News |
PowerRating) reported earnings that missed expectations by a penny
at 18 cents a share but did raise 2004 annual revenue estimates by $75 million.
The company earned $76.4 million on revenue of $1.39 billion. Xerox
(
XRX |
Quote |
Chart |
News |
PowerRating)
reported earnings that more than doubled to $187 million on stronger sales of
copiers and printers.
Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating) posted earnings of $63.8 million on revenue $641 million. The
company warned of lower gross margins and increasing inventory for the next
quarter. Schlumberger
(
SLB |
Quote |
Chart |
News |
PowerRating) posted net income of $356 million with
revenue rising 12% to $2.88 billion. The company benefited from continued
soaring crude and natural gas prices.
| Dow | -57.44 | 9993.13 |
| S&P 500 | -7.84 | 1088.92 |
| Nasdaq | -27.54 | 1861.62 |
Strong today are: Telecom
(
XTC.X |
Quote |
Chart |
News |
PowerRating) +0.32%, Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating) +0.26% Transport
(
$TRAN |
Quote |
Chart |
News |
PowerRating) +0.09%.
Weak today are: Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) -2.68%. Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) -2.53%,
Internet
(
ECM.X |
Quote |
Chart |
News |
PowerRating) -2.26%.
No Economic news releases
today.
10-year Notes are +55 at
110 215
The dollar
is +0.70 at 89.33
Gold is -5.60 at 391.00
Crude Oil is -0.08 at
40.80
Volume is 600 million on
the NYSE, and 841 million on the Nasdaq.
Market breadth is negative
| NYSE | Issues | |
| Advancing | 1066 | Up Vol 122 |
| Declining | 1928 | Down Vol 383 |
| Ratio | 1.81 | 3.14 |
| Nasdaq |
||
| Advancing | 963 | Up Vol 115 |
| Declining | 1853 | Down Vol 573 |
| Ratio | 1.92 | 4.98 |
Top Dow stocks are:
SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating)
+3.61%, Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating), +2.31%, American International Group
(
AIG |
Quote |
Chart |
News |
PowerRating),
+1.33%, Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) +1.14%
Stocks in the news:
United Airlines said they received an additional $500
million in bankruptcy financing from four lenders.
Microsoft said it will hire as many as 7,000 new employees
this business year.
Halliburton
(
HAL |
Quote |
Chart |
News |
PowerRating) posted a net loss of $663 amid
multiple one-time charges. Revenue rose 38% to $5 billion.
Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) fell after it reported earnings of
$1.58 billion with worldwide sales growing only 1%. Revenue for the quarter rose
5% to $5.97 billion.
Overstock
(
OSTK |
Quote |
Chart |
News |
PowerRating) reported a net loss of $2.3
million on increasing development expenses with revenue up at $87.8 million.
Brice Wightman
bricew@tradingmarkets.com