It’s A Record!
Stocks are
lower Wednesday, with oil prices making a 21-year high at $43.05.
Russian bailiffs ordered YUKOS to halt sales of property–including oil, adding
pressure to a tight global oil supply. Yukos provides about 2% of the world oil
supply. Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating) reported earnings of $777 million on higher
television revenue and the Harry Potter movie. Revenue rose 10% to $10.9 billion
and raised profit outlook to rise in the low double digits range.
Sina
(
SINA |
Quote |
Chart |
News |
PowerRating) is lower despite beating earnings forecasts by 2
cents and warned on Q3 revenue. Earnings more than doubled to $18 million with
revenue up 89% $49.2 million. Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) reported earnings of $607 million
with a one-time gain accounting for 25 cents of the earnings. Revenue rose 3% to
$13.1 billion with its defense business accounting for 55% of the revenue. To
date, there have been 200 orders of its highly anticipated 7E7 jet.
| Dow | -81.11 | 10004.03 |
| S&P 500 | -11.57 | 1083.62 |
| Nasdaq | -33.33 | 1835.72 |
Strong today are: Oil
Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +1.67%, Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +1.60%,
 Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +0.68%, Energy
(
DXE.X |
Quote |
Chart |
News |
PowerRating)
+0.60%.
Weak today are: Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) -3.60%, Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating) -2.90%.
Economic news releases today
include durable orders that rose a mere 0.7%.
10-year Notes are -5 at
109 205
The dollar
is +0.17 at 90.15
Gold is +0.50 at 387.50
Crude Oil is +0.94 at
42.78
Volume is 674 million on
the NYSE, and 796 million on the Nasdaq.
Market breadth is negative
| NYSE | Issues | |
| Advancing | 979 | Up Vol 185 |
| Declining | 2116 | Down Vol 424 |
| Ratio | 2.16 | 2.30 |
| Nasdaq |
||
| Advancing | 712 | Up Vol 119 |
| Declining | 2187 | Down Vol 643 |
| Ratio | 3.07 | 5.40 |
Top Dow stocks are:
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) +1.60%,
Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) +0.62%Â Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating), +0.58% Coca Cola
(
KO |
Quote |
Chart |
News |
PowerRating), +0.41%
Stocks in the news:
ConocoPhillips
(
COP |
Quote |
Chart |
News |
PowerRating) reported earnings that almost doubled to $2.08 billion on record oil
and gasoline prices. Revenue was up 25% at $31.9 billion.
Garmin
(
GRMN |
Quote |
Chart |
News |
PowerRating) beat earnings by 6
cents and boosted FY04 outlook.
US Steel
(
X |
Quote |
Chart |
News |
PowerRating) surged after reporting earnings of $211
million on strong steel demand and prices. Revenue rose to $3.47 billion and
declared a 5 cent dividend to its common share holders as of record on August
18th.
Louisiana-Pacific
(
LPX |
Quote |
Chart |
News |
PowerRating) was
higher after reporting earnings of $192 million as a rebound in new home
construction helped boost its revenue to $745.3 million.
Brice Wightman
Â