Look At What’s New In Semiconductors
Stocks are lower on light volume
as many New York traders are taking the week off.
Consumer spending bounced back in July — up
0.8% — after a revised 0.2% drop in June. Tyson
(
TSN |
Quote |
Chart |
News |
PowerRating) lowered 2004 guidance, citing
higher costs and weaker chicken demand. The company said it made the wrong bet
on the direction of grain prices. Last week, competitor Sanderson Farms
(
SAFM |
Quote |
Chart |
News |
PowerRating)
warned.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) will manufacture a chip
with more than a half billion transistors. The company will use its 65-nanometer
technology, which leaves AMD’s 90-nanometer technology a generation behind.
Crude oil is lower, at 41.60, down 1.58.
| Dow | -23.96 | 10171.19 |
| S&P 500 | -4.28 | 1103.49 |
| Nasdaq | -18.07 | 1844.02 |
Strong today are: Airlines
(
XAL.X |
Quote |
Chart |
News |
PowerRating)
+1.93%, Utilities
(
UTY.X |
Quote |
Chart |
News |
PowerRating) +0.31%.
Weak are: Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) -2.64%, Internet
(
GIN.X |
Quote |
Chart |
News |
PowerRating) -1.88%, Brokers
(
XBD.X |
Quote |
Chart |
News |
PowerRating) -1.54%.
10-year Notes are +070 at 113 005
The dollar
is -0.11 at 89.66
Gold is +3.20 at 406.40
Crude Oil is -1.58 at
41.60.
Volume is 392 million on
the NYSE and 508 million on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 1273 | Up Vol 101 |
| Declining | 1807 | Down Vol 260 |
| Ratio | 1.41 | 2.57 |
| Nasdaq |
||
| Advancing | 942 | Up Vol 94 |
| Declining | 1905 | Down Vol 383 |
| Ratio | 2.02 | 4.07 |
Stocks in the News
Accredo Health
(
ACDO |
Quote |
Chart |
News |
PowerRating) slashed its 2004
forecast.
Wal Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) may buy UK retailer
Matalan for $1.8 billion.
An FDA committee put off a vote on Eyetech’s
(
EYET |
Quote |
Chart |
News |
PowerRating) Macugen. The FDA did make some positive comments, however. The stock
was halted most of the day Friday.
QLT [
(
QLTI |
Quote |
Chart |
News |
PowerRating), a competitor of Eyetech, is
down.
In Barron’s this weekend: American Science &
Engineering
(
ASE |
Quote |
Chart |
News |
PowerRating), which was thought to de well in an anti-terror
envoronment; Drexler Technology
(
DRXR |
Quote |
Chart |
News |
PowerRating), OSI Systems
(
OSIS |
Quote |
Chart |
News |
PowerRating)
(x-ray screening), and Vical
(
VICL |
Quote |
Chart |
News |
PowerRating) (anthrax vaccine), Dentsply
(
XRAY |
Quote |
Chart |
News |
PowerRating) (baby boomers need more dental care), Lojack
(
LOJN |
Quote |
Chart |
News |
PowerRating) (unit sales
+16% in 2004).
Brice Wightman