Earnings After The Close…
Stocks
roared back in late trading with oil prices making a 21-year high at $43.05.
Dynergy
(
DYN |
Quote |
Chart |
News |
PowerRating) reported earnings of $10 million with revenue up at
$1.44 billion. Its power generation business rose 7% as the company raised 2004
outlook expecting earnings of 5 cents a share. Semiconductor Cree
(
CREE |
Quote |
Chart |
News |
PowerRating)
earnings rose to $21 million on sales of $90.8 million and said Q1 sales would
be around $96 million with earnings at 27 cents a share. ComcastÂ
(
CMCSA |
Quote |
Chart |
News |
PowerRating)
reported earnings of $262 million with on revenue of $5.07 billion. The company
raised operating cash flow outlook to $7.5 billion and boosted its stock buyback
program to $2 billion.
Magma design
(
LAVA |
Quote |
Chart |
News |
PowerRating)
beat earnings by a penny with revenue rising 57.9% year over year to $36
million. Starbucks
(
SBUX |
Quote |
Chart |
News |
PowerRating) said July same-store sales rose 10%.
 ESS Technologies
(
ESST |
Quote |
Chart |
News |
PowerRating) reported lower earnings at $0.10 cents a share with revenue up
147.8%.
Russian bailiffs ordered YUKOS
to halt sales of property–including oil, adding pressure to a tight global oil
supply. Yukos provides about 2% of the world oil supply. Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating)
reported earnings of $777 million on higher television revenue and the Harry
Potter movie. Revenue rose 10% to $10.9 billion and raised profit outlook to
rise in the low double digits range.
Sina
(
SINA |
Quote |
Chart |
News |
PowerRating) was lower despite beating earnings forecasts by 2
cents and warned on Q3 revenue. Earnings more than doubled to $18 million with
revenue up 89% $49.2 million. Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) reported earnings of $607 million
with a one-time gain accounting for 25 cents of the earnings. Revenue rose 3% to
$13.1 billion with its defense business accounting for 55% of the revenue. To
date, there have been 200 orders of its highly anticipated 7E7 jet.
After the close, ESS Tech
(
ESST |
Quote |
Chart |
News |
PowerRating) missed and guided lower; MetLife [MET}MET] beat by 0.11 and
guided higher; InfoSpace
(
INSP |
Quote |
Chart |
News |
PowerRating) beat by 0.13 and guided higher;
Schwab said it will close 53 branch offices. ChevronTexaco
(
CVX |
Quote |
Chart |
News |
PowerRating)
announced a 2:1 split and raised its dividend.
| Dow | +31.93 | 10117.07.03 |
| S&P 500 | +0.59 | 1095.42 |
| Nasdaq | -10.84 | 1858.26 |
Strong today were: Amex Gold
Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +1.88%, Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +1.16%,
BiotechsÂ
(
BTK.X |
Quote |
Chart |
News |
PowerRating) +1.13%, Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +0.90%,
Weak today were: Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) -2.35%, Internet
(
ECM.X |
Quote |
Chart |
News |
PowerRating) -1.73%.
Economic news releases today
include durable orders that rose a mere 0.7%.
10-year Notes were +55
at 109 265
The dollar
was -0.04 at 89.94
Gold was +2.00 at 389.50
Crude Oil was -0.30 at
42.60
Volume was 1.54 billion
on the NYSE, and 1.83 billion on the Nasdaq.
Market breadth was mixed
| NYSE | Issues | |
| Advancing | 1650 | Up Vol 698 |
| Declining | 1614 | Down Vol 826 |
| Ratio | 1.02 | 1.18 |
| Nasdaq |
||
| Advancing | 1180 | Up Vol 599 |
| Declining | 1901 | Down Vol 1212 |
| Ratio | 1.61 | 2.02 |
ConocoPhillips
(
COP |
Quote |
Chart |
News |
PowerRating) reported earnings that almost doubled to $2.08 billion on record oil
and gasoline prices. Revenue was up 25% at $31.9 billion.
Garmin
(
GRMN |
Quote |
Chart |
News |
PowerRating) beat earnings by 6
cents and boosted FY04 outlook.
US Steel
(
X |
Quote |
Chart |
News |
PowerRating) surged after reporting earnings of $211
million on strong steel demand and prices. Revenue rose to $3.47 billion and
declared a 5 cent dividend to its common share holders as of record on August
18th.
Louisiana-Pacific
(
LPX |
Quote |
Chart |
News |
PowerRating) was
higher after reporting earnings of $192 million as a rebound in new home
construction helped boost its revenue to $745.3 million.
Brice Wightman