Inflation worries sink stocks
Stocks fell Tuesday on lowered
guidance and inflation concerns.Â
Lexmark
(
LXK |
Quote |
Chart |
News |
PowerRating) lowered guidance for Q#
and now sees EPS of 0.40 -0.50 vs. the $1.02 consensus. LXK fell 17.44 to close
at 13.50.
Clorox
(
CLX |
Quote |
Chart |
News |
PowerRating) guided lower for Q2 and now sees 0.41 -0.47 vs the 0.55 consensus.
(full
story)
Sun Micro
(
SUNW |
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Chart |
News |
PowerRating)
said it entered into a multi-year strategic agreement with Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) promoting Java and the Google Toolbar.
Speeches by two Fed officials–St. Louis’ William Poole and Dallas’
Robert Fischer–focused investor’s attention on inflation.
US chain store sales rose 0.6%. Factory
orders rose 2.5% vs the 2.0% consensus.
Strong Sectors were:Â Â Â Â Airlines Â
(
XALI |
Quote |
Chart |
News |
PowerRating)
+2.90%Â Â Â Â Â Â Disk Drives
(
HWI |
Quote |
Chart |
News |
PowerRating) +0.66%Â Â Â Â Drugs
(
DRG |
Quote |
Chart |
News |
PowerRating) +0.65%
Weak sectors were:Â Â Â Â
Computer Hardware Â
(
HWI |
Quote |
Chart |
News |
PowerRating) -3.72%Â Â Â Â Â
Natural Gas
(
XNG |
Quote |
Chart |
News |
PowerRating) -3.49%Â Â Â Â Â
Oil
(
OIX |
Quote |
Chart |
News |
PowerRating) -3.48%Â Â Â Â Â Â Â Â
|
|
-94.37 | 10,441.11 |
| -16.07 | 2139.36 | |
| -12.23 | 1214.47 |
Stocks in the news:
ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating)
said the Libyan government awarded it a contract to explore for oil offshore.
Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) was downgraded to
underweight at J.P. Morgan.
Mylan Labs
(
MYL |
Quote |
Chart |
News |
PowerRating) said it received FDA
approval for Amlodipine Besylate tablets. (full
story)
Proctor & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) was downgraded to
hold at Citigroup.
CMGI Inc.
(
CMGI |
Quote |
Chart |
News |
PowerRating) reported a breakeven
Q4 vs. a 0.02 loss a year ago.
Brice Wightman
Â