Four Stocks That Benefit From A Weak Dollar
Stocks are lower on higher oil
prices and a weaker dollar.
Campbell’s Soup
(
CPB |
Quote |
Chart |
News |
PowerRating) beat by 0.04; revenues rose 9%.
The company backed earlier guidance.
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating) reported a Q3 loss of (0.04); estimates were for a gain of 0.13.The company
said it will not provide Q4 or FY05 guidance.
Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) said Kleiner Perkins Caufield filed to sell 19
million shares. An 8-K file last week indicated Google execs filed to sell
shares.
Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating) got a $100 price target from Piper Jaffray.
The dollar continues weak, which benefits many technology companies, as they are
the most dependent on foreign revenues. Here are a few companies with the
percent of revenues they receive from foreign sources: Texas Instruments, 81%;
AMD, 79%; QCOM, 78% and Intel 74%. On the flip side, a weak dollar can lead to
capital flight, higher inflation and interest rates, as well as a lower return
on investments.
The IMF trimmed its 2005 global growth forecast
to 4% from 4.3%.
Las Vegas Sands will list on the NYSE, symbol LVS.
This day in history:
1955 RCA paid $35,000 for the rights to Elvis’ music
1963 JFK assassinated
1988 Stealth bomber unveiled
| Dow | -22.10 | 10434.81 |
| S&P 500 | -1.63 | 1168.71 |
| Nasdaq | -9.73 | 2060.90 |
Strong sectors are:
Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +0.63%, Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating) +0.57%,
Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating) +0.36%.
Weak sectors are: Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -1.39%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -1.04%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) -1.01%
The dollar is -0.19 at 83.12
Gold is +2.00 to 448
Crude Oil is -0.19 at 48.70
909 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1645 | Up Vol 218 |
| Declining | 1518 | Down Vol 323 |
| Ratio | 1.08 | 1.48 |
| Nasdaq |
||
| Advancing | 1316 | Up Vol 391 |
| Declining | 1631 | Down Vol 470 |
| Ratio | 1.23 | 1.20 |
Stocks in the News
Rigel Pharma
(
RIGL |
Quote |
Chart |
News |
PowerRating) received disappointing results from early
stage trials of a hepatitis treatment.
Mylan Labs
(
MYL |
Quote |
Chart |
News |
PowerRating) said that buyout talks with Carl Icahn are not in
the company’s best interests.
IBM won a military/aerospace contract from Honeywell worth several
hundred million dollars.
MGM Mirage
(
MGG |
Quote |
Chart |
News |
PowerRating) could reach $72 by 2006, according to a
Barron’s article.
Pulitzer
(
PTZ |
Quote |
Chart |
News |
PowerRating) said it had hired a financial advisor to help it
explore a possible sale of the company.
Trump hotels and casinos filed for bankruptcy.
Brice Wightman