Is The Semiconductor Recovery Topping Out?
Stocks are higher on
expiration Friday
as crude hit a record $49.40 on Iraqi violence and increased demand from China
and India. General Motors
(
GM |
Quote |
Chart |
News |
PowerRating) said that some car
dealerships are cutting back orders on 2005 vehicles. On its second day of
trading, Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) is trading up 2.19 at 102.53.
The semiconductor book-to-bill ratio was 1.05, down from 1.07 in
June and 1.10 in May, and might suggest that the industry’s recovery may be
reaching a peak.
| Dow | +20.05 | 10061.52 |
| S&P 500 | +2.87 | 1094.11 |
| Nasdaq | +6.945 | 1826.83 |
Strong today are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) +3.10%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +1.95%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) +1.31%.
Weak are: Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) -0.09%, Computer Technology
(
XCI.X |
Quote |
Chart |
News |
PowerRating)
-0.20%.
10-year Notes are -040 at 112 245
The dollar
is +0.25 at 88.04
Gold is +5.50 at 413.11
Crude Oil is +0.16 at
47.80
Volume is 531 million on
the NYSE and 624 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1994 | Up Vol 341 |
| Declining | 1068 | Down Vol 139 |
| Ratio | 1.86 | 2.45 |
| Nasdaq |
||
| Advancing | 1757 | Up Vol 385 |
| Declining | 1052 | Down Vol 195 |
| Ratio | 1.67 | 1.97 |
Stocks in the News
Cyberonics
(
CYBX |
Quote |
Chart |
News |
PowerRating) is higher after Advanced Neuromodulations
Systems
(
ANSI |
Quote |
Chart |
News |
PowerRating) bought an equity stake in the company and opened
discussions about combining the companies.
Fannie Mae’s
(
FNM |
Quote |
Chart |
News |
PowerRating) accounting practices
are being investigated; the company received a subpeona by its regulator.
Ceradyne
(
CRDN |
Quote |
Chart |
News |
PowerRating) is higher after it won a
$461 Army contract.
Autodesk
(
ADSK |
Quote |
Chart |
News |
PowerRating) reported higher
quarterly profit and guided higher.  Â
Blockbuster
(
BBI |
Quote |
Chart |
News |
PowerRating) declared a special $5
ash dividend, payable September 3 to holders of record August 27.
Marvel Technology
(
MRVL |
Quote |
Chart |
News |
PowerRating) forecast lower revenue growth for Q3.
Brice Wightman