Google Broke $200, But Then…

  • November 3, 2004
  • Brice Wightman

Stocks gapped higher Wednesday
morning after a Bush win, rallying broadly on good
volume. The market sold off intraday, though, on higher oil. Healthcare, drugs,
defense, energy and utilities were all strong. The Small Cap index made a
historic high.

Pfizer
(
PFE |
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(
MRK |
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(
BMY |
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were all higher on a Bush win.

Google
(
GOOG |
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PowerRating) broke the psychological $200 barrier before pulling
back.

Factory orders fell -0.4% in September. The ISM
manufacturing Index for October was 59.8.

Post-election, we are back to earnings focus.
Next week, Cisco and Dell are on tap, as well as a Fed meeting.

After the close, EDS said it will postpone its
earnings announcement. Roxio
(
ROXI |
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PowerRating) beat by 0.06 and raised guidance.
Sonus
(
SONS |
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(
COHR |
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PowerRating) beat by 0.07.
Andrx
(
ADRX |
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PowerRating) missed by 0.16.

Dow +101.32 10137.05
S&P 500 +12.64 1143.20
Nasdaq +19.54 2004.33

Strong sectors were:
Healthcare Providers
(
HMO.X |
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PowerRating) +5.54%, Biotech
(
BTK.X |
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+3.59%, Healthcare 
(
HCX.X |
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+3.01%.

Weak sectors were: Airlines

(
XAL.X |
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PowerRating) -1.46%, Semis
(
SOX.X |
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PowerRating) -1.00%.

The dollar was -0.77 at
84.65

Gold was +4.70 at 424.20

Crude Oil was +1.25 at 50.88

ce=”Arial” size=”2″ face=”Arial”>Volume was 1.77 billion on the NYSE and
1.95 billion on the Nasdaq.

Market breadth was positive.

NYSE Issues
Advancing 2505 Up Vol 1387
Declining 818 Down Vol 324
Ratio 3.06 4.28
Nasdaq
Advancing 2102 Up Vol 1104
Declining 960 Down Vol 811
Ratio 2.18 1.36

Stocks in the News

Time Warner
(
TWX |
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PowerRating) reported a lower Q3 profit.

Cigna
(
CI |
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PowerRating) beat by 0.43.

Prudential
(
PRU |
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PowerRating) beat by 0.15, and doubled its Q3 profit.

InterActive
(
IACI |
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PowerRating) beat by 0.03.

Polo Ralph Lauren
(
RL |
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PowerRating) beat by 0.03.

KOS Pharma
(
KOSP |
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PowerRating) beat by 0.18.

Pepsi
(
PEP |
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PowerRating) reaffirmed guidance for 2004-2005.

Priceline
(
PCLN |
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PowerRating) beat by a penny.

Brice Wightman