Here’s Who Benefits Under The New Budget
Stocks are mixed, taking a breather after
Friday’s big gains. Last week, the Dow rose 2.8%, the Nasdaq gained 2.05% and
the SPX, +2.7%.
Wellpoint
(
WLP |
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PowerRating)
profit fell 12%, but still beat expectations.
Humana
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HUM |
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PowerRating)
beat by 0.02 and raised forecast for 2005.
Hasbro
(
HAS |
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PowerRating) missed by 0.05.
Beazer Homes
(
BZH |
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PowerRating) 3:1 stock split.
Included in the 2005 budget is a $419.3 billion increase in defense spending.
Companies likely to benefit are: Boeing
(
BA |
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PowerRating), General Dynamics
(
GD |
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PowerRating), United Defense Industries
(
UDI |
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PowerRating) and Alliant TechSystems
(
ATK |
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PowerRating).
Earnings season is beginning to wind down; however, tomorrow after the close,
look for Cisco to report. Estimates are 0.22.
Strong sectors are: Drugs
(
$DRG.X |
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PowerRating)
+0.51%Â Chemicals Â
(
$CEX.X |
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PowerRating) +0.39%Â Healthcare
(
$HCX.X |
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PowerRating) +0.31%.
Weak sectors are:Â Gold
(
$HUI.X |
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PowerRating)
-2.34%Â Oil Services
(
OSX.X |
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PowerRating)
-1.38%Â Â Disk Drives
(
$DDX.X |
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PowerRating) -1.00%Â
| Dow | -0.20 | 10,716.07 |
| S&P 500 | -1.46 | 1201.56 |
| Nasdaq | -4.98 | 2081.78 |
The dollar is +0.47 at
84.86
Crude Oil is -0.83 at
45.65
Gold is -1.30 to 412.80
804 million on the Nasdaq.
Market breadth is mixed.
| NYSE | Issues | |
| Advancing | 1771 | Up Vol 287 |
| Declining | 1374 | Down Vol 257 |
| 1.28 | 1.11 | |
| Nasdaq |
||
| Advancing | 1469 | Up Vol 368 |
| Declining | 1483 | Down Vol 412 |
| 1.00 | 1.11 |
Stocks in the News
Louisiana Pacific
(
LPX |
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PowerRating) missed by 0.13.
ImClone
(
IMCL |
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PowerRating) will be in focus after Carl Icahn disclosed a 6%
stake in the company.
Kerr-McGee
(
KMG |
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PowerRating) was the subject of a positive article in
Barron’s.
RealNetworks
(
RNWK |
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PowerRating) was also the subject of a positive article in
Barron’s. The company may be an acquisition target.
Brice Wightman