Earnings After The Close…
Stocks made it two in a row as all the major indices
rose again today. Positive earnings announcements as well as a
bullish outlook from Oracle
(
ORCL |
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PowerRating) have stocks pushing higher after
recent lows. Lower oil is also giving stocks a boost. The Energy Department
reported a 3.4 billion barrel rise in crude inventories. Crude oil for March
delivery is down 0.64 at 49.00.
Eli Lilly
(
LLY |
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PowerRating) beat by a penny. The company also beat on revenues; a weaker dollar
helped out.
Imclone
(
IMCL |
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PowerRating) beat by 0.10; the stock is trading up pre-market
General Dynamics
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GD |
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11-13%, citing strong Gulfstream orders. The company has a $42 billion backlog.
Sirius
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PowerRating) reported a wider loss of 0.21/share.
After the close, LSI Logic
(
LSI |
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PowerRating) beat by 0.03, but revenue was lower.
RealNetworks
(
RNEK |
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PowerRating) reported a smaller loss; the stock trade dup after
hours. Starbucks
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SBUX |
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PowerRating) beat by a penny.
The Iraq elections are on Sunday, and OPEC meets then as well. Next week,
look for the FOMC.
Strong sectors were: Internet
(
GIN.X |
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PowerRating)
+3.75%, Semis
(
SOX.X |
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PowerRating) +2.61%, Biotech
(
BTK.X |
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News |
PowerRating) +2.06
| Dow | +37.03 | 10,498.59 |
| S&P 500 | +5.66 | 1174.07 |
| Nasdaq | +26.14 | 2046.09 |
The dollar was -0.69 at
83.22
Crude Oil was -0.86 at
48.78
Gold was +4.80 to 426.60
2.1 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 2359 | Up Vol 1098 |
| Declining | 939 | Down Vol 505 |
| 2.51 | 2.17 | |
| Nasdaq |
||
| Advancing | 2155 | Up Vol 1547 |
| Declining | 943 | Down Vol 542 |
| 2.28 | 2.85 |
Stocks in the News
SBC Communications
(
SBC |
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PowerRating) beat by a penny.
Oracle
(
ORCL |
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PowerRating) guided higher, saying its Peoplesoft
acquisition is already contributing to earnings. The software maker also gave a
bullish outlook for fiscal 2006. Oracle says that it is looking for growth
between 22% to 28%, and earnings of 76 to 80 cents a share. Shares of Oracle are
looking to breakout of its recent month long trading range.
Flextronics
(
FLEX |
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PowerRating) beat by a penny;
Q3 net income surged four-fold.
Electronic Arts
(
ERTS |
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PowerRating)
beat by 0.06 but sales were slightly lower.
Texas Instruments
(
TXN |
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PowerRating))
beat by 0.02 but the company guided lower.
Brice Wightman