Is This The New Online Trend?

Stocks are lower on higher oil and several blue
ship downgrades. Alcoa
(
AA |
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was downgraded by Goldman Sachs. Pfizer
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PFE |
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was cut to ‘neutral’ at Merrill Lynch. In the retail sector,
Circuit City

(
CC |
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said same store sales fell 4.3%; expectations were
+2.6%.

Not all the news was bad.
Kimberly Clark (KMB)
guided in-line, saying it would buy back $1 billion in shares, and increased its
dividend by 2.5%.

Neilsen/NetRatings said online spending rose 19%
last month from a year ago, and 62% higher than the 2002 holiday season.

Strong sectors are: Computer Technology
(
XCI.X |
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+0.38%, Utilities
(
UTY.X |
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+1.49%

Weak sectors are: Airlines
(
XAL.X |
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-1.87%, Healthcare Providers
(
HMO.X |
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-0.81%, Gold
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XAU.X |
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-1.21%.

Dow -47.97 10544.24
S&P 500 -3.86 1187.31
Nasdaq -3.98 2143.98

The dollar is +0.24 at
81.22

Gold is -1.30 to 453.30

Crude Oil is +0.66 at 43.20

ce=”Arial” size=”2″ face=”Arial”>Volume is 594 million on the NYSE and
1.01 billion on the Nasdaq.

Market breadth is negative.

NYSE Issues
Advancing 1118 Up Vol 159
Declining 1995 Down Vol 376
Ratio 1.78 2.36
Nasdaq
Advancing 1493 Up Vol 554
Declining 1607 Down Vol 397
Ratio 1.07 1.39

Stocks in the News.

Monsanto
(
MON |
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may benefit from less resistance to its genetically
altered seeds, says Barron’s.

Celgene
(
CELG |
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reported positive data for several studies.

Apple
(
AAPL |
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was raised at JP Morgan.

Corgentech
(
CGTK |
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is lower after an experimental product failed a
late stage trial. Bristol Myers
(
BMY |
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is also involved in this trial.

Callaway Golf
(
ELY |
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was mentioned positively in Barron’s.

Unocal
(
UCL |
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said its board authorized a $465 million buyback.

Barron’s said Cato Corp.
(
CATO |
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may be undervalued.

Barron’s had some positive comments on American Real Estate
(
ACP |
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.

Getty Images
(
GYI |
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was the subject of some positive comments on
Wall Street Week.

Today in History

1768 First Encyclopedia Brittanica published

1865 13th Amendment ratified, abolishing slavery

Brice Wightman