Google Reports Today. Here’s What To Expect

Stocks are higher ahead
of the Fed,
which begins its 2-day meeting today; economists are
expecting a sixth rate hike.

The ISM Index came in at 56.4 for January vs.
57.3 in December; the figure was lower than expected. Any number above 50
indicates expansion. Construction spending came in higher than expected, at
+1.1%.

Disney (DIS)
reported after the bell, 0.34 vs. a 0.29 estimate. Revenues were $8.67 billion
vs a $8.59 billion estimate. DIS is making a new high.

Avon
(
AVP |
Quote |
Chart |
News |
PowerRating)
was in-line and raised its quarterly dividend to 16.5
cents per share and said it would buy back $1 billion in stock over the next 5
years.

Ingersoll Rand
(
IR |
Quote |
Chart |
News |
PowerRating)
beat by 0.08. Sales rose 9%.

CSFB raised its opinion on the chip sector.

After the bell, look for Google
(
GOOG |
Quote |
Chart |
News |
PowerRating)

to report 0.77, with $590 million in revenues. Google commands 40% of the search
market. Microsoft officially rolls out its competing search engine today.

Strong sectors are: Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating)

+1.53%  Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+1.32%  Chemicals
(
CEX.X |
Quote |
Chart |
News |
PowerRating)

+1.09% 

Weak are: Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating)
-0.52% 
Gold

(
HUI.X |
Quote |
Chart |
News |
PowerRating)
-0.07% 

Dow +111.81 10,539.01
S&P 500 +5.69 1186.96
Nasdaq +6.52 2068.93

The dollar is +0.09 at
83.72

Crude Oil is -0.40 at
47.80

Gold is -1.90 to 419.90

ce=”Arial” size=”2″ face=”Arial”>Volume is 677 million on the NYSE and
793 million on the Nasdaq.

Market breadth is positive.

NYSE Issues
Advancing 2008 Up Vol 391
Declining 1104 Down Vol 202
1.81 1.93
Nasdaq
Advancing 1582 Up Vol 424
Declining 1327 Down Vol 295
1.19 1.43

Stocks in the News

Emerson
(
EMR |
Quote |
Chart |
News |
PowerRating)
beat by 0.01

Ariba (ARBA)
missed by 0.02 and missed on revenues.

Avanex (AVNX)
missed by 0.01.

Internet Security (ISSX)
beat by 0.02.

Tyco
(
TYC |
Quote |
Chart |
News |
PowerRating)
reported net profit fell but matched estimates.

Paccar
(
PCAR |
Quote |
Chart |
News |
PowerRating)
beat by 0.03 and beat on revenues.

Boston Scientific
(
BSX |
Quote |
Chart |
News |
PowerRating)
beat by 0.01 on an adjusted basis. Net
sales rose 70%.

Pfizer
(
PFE |
Quote |
Chart |
News |
PowerRating)
is in focus after a New York Times article
raising new Celebrex concerns.

Brice Wightman