Guiding Higher (And Lower) After The Close

Stocks
rallied Monday.

Construction numbers up 1.2% topping forecasts of +0.5% helped buoy
stock indices. Software maker Siebel
(
SEBL |
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News |
PowerRating)
raised fourth-quarter
numbers from higher license revenues. It now expects revenues of $365 million
and earnings of 8 cents per share. Drug maker Eli Lilly
(
LLY |
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PowerRating)
warned
investors that there may be a substantial one-time charge for merger-related
costs in the first quarter of 2004. Gold
(
GCJ4 |
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News |
PowerRating)
prices rose past
$424 an ounce on the dollar’s continued weakness. The euro rose to $1.2694
against the dollar.

Dow
+134.22

10544.07
S&P 500
+13.74

1122.22
Nasdaq
+40.68

2047.36

The day’s leading sectors are
Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating)
+4.56%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
+2.80%,
Telecoms
(
XTC.X |
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Chart |
News |
PowerRating)
+3.70%, Disk Drive
(
DDX.X |
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Chart |
News |
PowerRating)
+3.94%,
Networking
[GIP.X|
GIP.X] +2.24%.

Weak today is Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating)
-3.79%, and Health Providers
(
RXH.X |
Quote |
Chart |
News |
PowerRating)
-0.88%.

Economic news releases included
Construction Spending, up 1.2%.

Volume was
1,578,124,000 on
the NYSE, and
2,342,301,000 on the Nasdaq.

Market breadth was positive.

NYSE Issues
Advancing 2225 Up Vol
1084
Declining 1091 Down Vol 359
Ratio 2.03 3.01
Nasdaq
Advancing 2144 Up Vol
1598
Declining 1065 Down Vol
653
Ratio 2.01 2.44

Stocks in the news:

After the close, Tivo
(
TIVO |
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Chart |
News |
PowerRating)
filed a
patent infringment lawsuit against Echostar
(
DISH |
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News |
PowerRating)
. California
Micro Devices

(
CAMD |
Quote |
Chart |
News |
PowerRating)
raised 3Q guidance to .08-.10. ScanSource
(
SCSC |
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Chart |
News |
PowerRating)

guided higher, saying Q2 revenues will be $283-290 million vs. Reuters consensus
of $261.1 million.  Planar Systems
(
PLNR |
Quote |
Chart |
News |
PowerRating)
warned for Q1, saying
earnings will be .20-.22 vs. 0.28 consensus.

Isis Pharmaceuticals
(
ISIS |
Quote |
Chart |
News |
PowerRating)
reported
optimistic results from its rheumatoid arthritis drug’s mid-stage clinical
trials. It said the level of response to the drug suggested that longer or
higher dosages may increase effectiveness.

General Motors
(
GM |
Quote |
Chart |
News |
PowerRating)
announced a
marketing campaign to give away 1000 automobiles over the winter season. The
promotion is expected to cost $50 million, bringing in 5.5 million customers to
try their luck at local dealerships.

Barron’s reported that AstraZeneca
(
AZN |
Quote |
Chart |
News |
PowerRating)
may face risks from two new drugs related to reducing cholesterol and
preventing strokes. Drugs named in the report were Crestor and Exanta.

Retailer Walgreen
(
WAG |
Quote |
Chart |
News |
PowerRating)
reported a 10%
increase in net profit of $254.9 million on $8.72 billion revenue. Prescription
sales rose 18% and accounted for 64% of total revenue.

bricew@tradingmarkets.com