Get Ready For Wednesday With These Numbers
Stocks
rose Tuesday with the US industrial output rising 0.8%.
Cingular Wireless
(
SBC |
Quote |
Chart |
News |
PowerRating)
came out ahead on the AT&T Wireless
(
AWE |
Quote |
Chart |
News |
PowerRating) bidding contest, making a
$15/share offer. The all-cash offer is worth $41 billion, a premium of 30% over
AWE’s Friday’s close. Combined, the company would have 46 million customers
with revenue exceeding $32 billion. NTT DoCoMo
(
DCM |
Quote |
Chart |
News |
PowerRating) which holds a
16% stake in AWE is expected to sell its stake. Farm equipment maker Deere
(
DE |
Quote |
Chart |
News |
PowerRating) reported earnings that more than doubled with strength in its
agriculture, construction and forestry divisions. Earnings came in at $170.8
million on revenue of $3.48 billion. Disney’s
(
DIS |
Quote |
Chart |
News |
PowerRating) board rejected
Comcast’s
(
CMCSK |
Quote |
Chart |
News |
PowerRating) offer, saying the $47.57 billion value was too
low. Comcast retorted that it has no plans to acquire Disney at current
valuations and is not running a consent solicitation to replace its board.
| Dow | +87.03 |
10714.89 |
| S&P 500 |
+11.18 |
1156.99 |
| Nasdaq | +26.79 |
2080.35 |
The day’s leading sectors were
Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +3.26%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating)
+3.41%, Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +2.37%, Hardware
(
HWI.X |
Quote |
Chart |
News |
PowerRating)
+2.41%.
Economic news releases included
a rise in the Capacity Utilization at 76.2%, NY Empire State index at 42.05.
Industrial output also was higher-than-expected at +0.8%
Abercrombie & Fitch
(
ANF |
Quote |
Chart |
News |
PowerRating)
beat by a penny at 0.96 vs 0.95; Agilent
(
A |
Quote |
Chart |
News |
PowerRating) came in a penny shy —
0.21 vs 0.22 estimate, excluding charges. WalMart reported February same
store sales near the high end and the company will report Q4 on Thursday.
Network Appliance
(
NTAP |
Quote |
Chart |
News |
PowerRating) beat by and traded higher.
10-year Notes were -010
at 114 255
Dollar was -0.46 at
85.02
Gold was +2.90 at 415.45
Crude Oil was +0.75 at
34.86
Euro was +1.02 at 128.24
Volume was
1,392,166,000
on the NYSE, and 1,624,459,000
on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 2435 | Up Vol 1087 |
| Declining | 896 | Down Vol 288 |
| Ratio | 2.71 | 3.77 |
| Nasdaq | ||
| Advancing | 2092 | Up Vol 1174 |
| Declining | 1096 | Dow Vol 400 |
| Ratio | 1.90 | 2.93 |
Stocks in the news:
Janus Capital
(
JNS |
Quote |
Chart |
News |
PowerRating) rose higher
on a favorable Barron’s article. Barron’s suggested that JNS shares can
appreciate 20% higher as its balance sheet debt reduction program would lead to
higher earnings.
National City
(
NCC |
Quote |
Chart |
News |
PowerRating) announced a
deal to acquire Ohio-based Provident Financial Group
(
PFGI |
Quote |
Chart |
News |
PowerRating) in a
stock deal worth $2.1 billion. Each Provident share will be exchanged for 1.135
National share.
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating) said it
expects fourth-quarter earnings to be 26 cents a share with increased revenue.
Looking ahead, the company expects to earn $1.17 a share for fiscal year 2005.