Great Earnings, But Here’s Why The Market Isn’t Rallying More

Stocks are mixed on a host of good earnings.
The Dow and Nasdaq are higher but the S&P 500 is down slightly.
Gains might be higher if the economic data released today was more
positive. The CPI for March rose +0.6%; core was +0.4%, double the expectations.
Crude oil and gas had drawdowns this past week. Crude inventories fell by 1.8
million barrels and gas inventories fell by 1.5 million barrels. Both were
expected to show a build.

Intel
(
INTC |
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PowerRating) beat by 0.03; revenues were slightly higher than
expected at $9.4 billion. Net income rose 25%. The company raised its cap-ex
guidance.

Yahoo
(
YHOO |
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PowerRating) beat by 0.02, beat on revenues and raised guidance.Q1
profit more than doubled; online ad revenue rose to more than $1 billion.

Google
(
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PowerRating) is trading higher pre-open on the Yahoo news.

Tonight

EBAY (0.18),  MOT
(0.19),  QCOM (0.27),  SBC  (0.33),  YUM
(0.52) 

Thursday

GOOG (0.92), T (0.59)  MCD (0.43)

Friday

EK (0.33), HAL (0.44), IP (0.33), MYG (0.20)

Two-thirds of firms that have provided Q2 guidance have guided lower.
Thompson Financial says that Q1 earnings growth could be 11-12%.

Strong sectors are:  Gold
(
$XAU.X |
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PowerRating) +0.98%  
 Disk Drives
(
$DDX.X |
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PowerRating) +0.73%   Internet
(
$GIN.X |
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PowerRating)
+0.73%

Weak sectors are:  Brokers
(
$XBD.X |
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PowerRating) -1.27%   
Pharmaceuticals
(
$DRG.X$ |
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PowerRating)
-0.91%   Banks
(
$BIX.X |
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PowerRating) -0.79% 

Stocks in the News

Cymer
(
CYMI |
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PowerRating) beat by 0.06; revenues were better than expected. 

St. Jude
(
STJ |
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PowerRating) beat by a penny.