Earnings and Buyouts Fail to Lift Stocks

  • July 30, 2007
  • Ashton Dorkins

After a brief uptick to start the day, stocks are moving lower
again on Monday. Last week witnessed the heavy selling as investor
pessimism, related primarily to the credit markets, lead to a
widespread selloff. The Dow experienced its largest points drop in
five years and the S&P 500 lost the most points in six years.

Verizon Wireless announced a deal to buy Rural Cellular

(
RCCC |
Quote |
Chart |
News |
PowerRating). Meanwhile, Verizon Communications
(
VZ |
Quote |
Chart |
News |
PowerRating)
reported Q2 net income rose 4.5%.

Net income more than doubled at Archer Daniels Midland
(
ADM |
Quote |
Chart |
News |
PowerRating).

South Korea’s Doosan Infracore agreed to buy a unit of
Ingersoll-Rand
(
IR |
Quote |
Chart |
News |
PowerRating) for $4.9 billion (full
story).

American Home Mortgage
(
AHM |
Quote |
Chart |
News |
PowerRating) shares are currently
suspended after losing 42% in pre-market trading. On Friday, the
company said that it will delay payments of its quarterly
dividend. Business Wire reported “The disruption in the credit
markets in the past few weeks has been unprecedented in the
company’s experience and has caused major write-downs of its loan
and security portfolios and consequently has caused significant
margin calls with respect to its credit facilities.”

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Stocks in Motion

Humana
(
HUM |
Quote |
Chart |
News |
PowerRating) Q2 Profit More Than Doubles (full
story).

Tyson Foods
(
TSN |
Quote |
Chart |
News |
PowerRating) Swings To Profit In Q3 On Higher Average Sales
Prices (full
story).

Monster Worldwide
(
MNST |
Quote |
Chart |
News |
PowerRating) Q2 Profit Falls On Higher Costs (full
story).

RadioShack
(
RSH |
Quote |
Chart |
News |
PowerRating) Swings To Profit In Q2 On Improved Margins (full
story).

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

 -4.06 13261.41

NASDAQ

 -2.87 2559.37

S&P 500

 -0.11 1458.84

NYSE NASDAQ

Volume

 822,477,640 955,351,778

Up Volume

 404,669,740 505,396,751

Down Volume

 407,442,600 440,837,961

Advances

 1,541 1,174

Declines

 1,666 1,707

New Highs

 9 22

New Lows

 341 247


Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries
Industrial
Electrical Equipment
Semiconductor-Memory Chips
Industrial
Metals & Minerals		 Drug
Delivery
Synthetics Personal
Computers



Economic
News

University of Michigan’s consumer
sentiment index rose to 90.4 in July from 85.3 in June (full
story).

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