Here’s What To Look For From Intel
Stocks are
flat ahead of Intel’s report. Merrill
Lynch
(
MER |
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PowerRating) posted earnings of $1.08 billion, 3 cents short of estimates
and affirmed its commitment to their $2 billion share buyback program. The
company’s global markets and investment banking unit pre-tax earnings fell 7% to
$1 billion. Overall revenue reached $5.3 billion.
Johnson & Johnson
(
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PowerRating)
posted earnings of 82 cents a share with revenue at $11.48 billion, which fell
short of consensus. The company’s medical devices and diagnostics product grew
11.8% to $4.1 billion with its pharmaceuticals business growing 11.1%
year-over-year. Red Hat
(
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PowerRating)
said they will change their method on how they recognize revenue for
subscription agreements and restatement of various financial statements to
reflect applicable changes.
After the close, look for
earnings from Intel
(
INTC |
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PowerRating). Analysts are looking for $0.27/share on
$8.1 billion sales. Last year, for the same quarter, the company reported
0.14/share on $6.8 billion sales. Intel’s earnings com on the heels of a broad
downgrade of the chip sector yesterday by Merrill Lynch.
| Dow | +2.63 | 10241.16 |
| S&P 500 | -0.46 | 1113.87 |
| Nasdaq | -2.01 | 1934.91 |
Strong today are: Healthcare
(
HMO.X |
Quote |
Chart |
News |
PowerRating)Â +2.05%, Hardware
(
HWI.X |
Quote |
Chart |
News |
PowerRating) +1.53%, Retail
(
RLX.X |
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Chart |
News |
PowerRating),
+0.82%, Healthcare Provider
(
RXH.X |
Quote |
Chart |
News |
PowerRating) +0.64%.
Weak today are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -3.06%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +2.03%, Gold and
Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) -1.98%.
Economic news release include a
narrower trade balance at -$46 billion.
10-year Notes are -125
at 110 100
The dollar
is +0.60 at 88.25
Gold is -6.70 at 403.00
Crude Oil is -0.43 at
38.77
Volume is 529 million on
the NYSE, and 677 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1494 | Up Vol 251 |
| Declining | 1596 | Down Vol 268 |
| Ratio | 1.07 | 1.07 |
| Nasdaq |
||
| Advancing | 1436 | Up Vol 271 |
| Declining | 1421 | Down Vol 367 |
| Ratio | 1.01 | 1.35 |
Top Dow stocks are:
Pfizer
(
PFE |
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Chart |
News |
PowerRating),
+1.58%, IBM
(
IBM |
Quote |
Chart |
News |
PowerRating), +1.15%, WalMart
(
WMT |
Quote |
Chart |
News |
PowerRating), +0.94%, Hewlett
Packard
(
HPQ |
Quote |
Chart |
News |
PowerRating) +0.90%Â
Stocks in the news:
IBM
(
IBM |
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Chart |
News |
PowerRating) was upgraded by Morgan
Stanley with a price target of $100.
Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) declared a stock
split and upped its dividend by 40%.
Delta Airlines
(
DAL |
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Chart |
News |
PowerRating)
announced a $1.65 billion charge related to deferred income taxes and pilot
pension plans and said they do not know when they will reach profitability.
Lucent
(
LU |
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Chart |
News |
PowerRating) won a $5 billion contract
from Verizon Wireless
(
VZ |
Quote |
Chart |
News |
PowerRating) to expand their high-speed data network.
Brice Wightman
bricew@tradingmarkets.com