Earnings After The Close…

Stocks were mixed on Thursday, with higher crude oil
tempering good broker earnings. Crude oil traded to an intraday high
of $57.60 before backing off. Cyclicals rallied, as did the energies.

Morgan Stanley
(
MWD |
Quote |
Chart |
News |
PowerRating) beat by 0.19; revenue rose 10%.

Goldman Sachs
(
GS |
Quote |
Chart |
News |
PowerRating) beat by 0.26; net income climbed 17%.

PanAmSat (PA) began trading today; offering price: $18, under the
original $19-$21 talk. The company first went public in 1997 and was taken
private last year. The stock yields 8.6%. PA closed at 17.35.

Jobless claims fell 10,000 to 318,000; the 4-week moving average is now
316,500. The Philly Fed came in at 11.4 in March, compared with 23.9 last month.

With the recent drop, GM now has a lower market cap than such names as
Harley Davidson, Nike and Gap.

After the close, Adobe
(
ADBE |
Quote |
Chart |
News |
PowerRating) beat by 0.03, ex-items, raised 2004
guidance and announced a 2:1 stock split. Take Two Interactive
(
TTWO |
Quote |
Chart |
News |
PowerRating)
announced a 3:2 split. King Pharmaceuticals
(
KG |
Quote |
Chart |
News |
PowerRating) missed by 0.11.

Remember, tomorrow is triple witching.

Stocks in the News

Digital River
(
DRIV |
Quote |
Chart |
News |
PowerRating) raised its Q1 guidance. The stock is trading
higher pre-open.

FedEx
(
FDX |
Quote |
Chart |
News |
PowerRating) beat by 0.05.

Ann Taylor
(
ANN |
Quote |
Chart |
News |
PowerRating) posted a wider than expected loss of 0.18 vs. teh
expected loss of 0.07.

Viacom
(
VIA |
Quote |
Chart |
News |
PowerRating) is considering separating its cable and film division
from its broadcast, TV and radio division. The stock rallied sharply at the
close yesterday on the news. 

Qwest raised its bid for MCI to $26/share.