Earnings After The Close
Stocks were mixed Tuesday, as good reports from
Pepsi and Genentech were balanced by higher crude oil prices. The S&P
made a 4-year high intraday and the Nasdaq closed near its highs of the year.
Genentech
reported Q2 earnings of 0.30 vs a 0.26 forecast; revenues were in-line.
Herceptin sales rose 23%. Tarceva sales were $10 million higher than analysts
expected. DNA is up nearly $40 in the past 4 months. The company upped its
guidance.
Pepsi
(
PEP |
Quote |
Chart |
News |
PowerRating) beat by 0.03 and said it was confident in its 2005
outlook.
Breakouts today include: Retail (RLX), oil (XOI), oil services (OSX),
the REIT Index and brokerage index (XBD).
Ameritrade
(
AMTD |
Quote |
Chart |
News |
PowerRating) beat by a penny, beat on revenues and issued
in-line guidance. Profits jumped 20%.
British Petroleum’s
(
BP |
Quote |
Chart |
News |
PowerRating) $6.5 billion
Thunder
Horse platform is listing badly. The platform–located in the Gulf of Mexico
and partially in the path of hurricane Dennis–is listing at 20 to 30 degrees.
It is expected to go online later this year. The platform is expected to produce
250,000 barrels per day.
Fortune’s Global 500 is topped by: Wal-Mart, BP, ExxonMobil, Royal
Dutch, and General Motors. Position is determined by total revenue the prior
year. View the complete list here.
After the close, Resources Connect
(
RECN |
Quote |
Chart |
News |
PowerRating) beat by 0.03.
Majesco
(
COOL |
Quote |
Chart |
News |
PowerRating) guided lower. Tomorrow before the open, look for
earnings from HDI.
Strong sectors were: Oil Services
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) +1.52% Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) +1.10%
Oil
(
OIX.X |
Quote |
Chart |
News |
PowerRating) +1.03%
Weak sectors were:
Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) -2.04% Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) -0.19% Healthcare Providers
(
$HMO.X |
Quote |
Chart |
News |
PowerRating) -0.56%
| Dow | -4.68 | 10,515.04 |
| Nasdaq | +7.72 | 2143.15 |
| S&P 500 | +2.81 | 1222.25 |
The dollar was -1.05 at
88.41
Crude Oil was +1.32 at
61.40
Gold was +0.80 at 426.60
1.658 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 1899 | Up Vol 1164 |
| Declining | 1395 | Down Vol 714 |
| 1.36 | 1.63 | |
| Nasdaq |
||
| Advancing | 1593 | Up Vol 1017 |
| Declining | 1489 | Down Vol 589 |
| 1.06 | 1.72 |
Stocks in the News
Bank of America upgraded Dreamworks
(
DWA |
Quote |
Chart |
News |
PowerRating) to buy.
Biomet
(
BMET |
Quote |
Chart |
News |
PowerRating) was upgraded at Morgan Stanley, to overweight.
Colgate
(
CL |
Quote |
Chart |
News |
PowerRating) is selling its U.S. laundry brands for $60 million and
will repatriate in $800 million in Q3, resulting in a one-time $35 million
charge.
Sirius
(
SIRI |
Quote |
Chart |
News |
PowerRating) was downgraded at UBS to neutral from buy.
The Bank of New York
(
BK |
Quote |
Chart |
News |
PowerRating) raised its dividend to 0.21 from 0.20 and
authorized the repurchase of up to 20 million shares.
Brice Wightman