Look For These Tech Names To Report Next Week
Stocks got off to a rocky start this first week of
the New Year. All the major indices fell for the week; in fact, it
was the worst New Year’s week performance since 1991.We came into the with an
overbought situation and the market sold off on Monday after some large
positions were unwound and then again on Tuesday on Fed minutes and inflation
worries.
Nonfarm payrolls for December rose 157,000, slightly less than expected.
November data was revised up to 137K from 112K. Unemployment was 5.4%, in line.
In 2004, unemployment fell from 5.7% to 5/4% with 2.2 million jobs added. Of
note, 76,000 manufacturing jobs were added last year, the first gain since 1997.
2004 was also the best year for job creation since 1999.
The dollar made a six-week high against the euro.
Boeing
(
BA |
Quote |
Chart |
News |
PowerRating) sees a rise on sales in 2005 on increasing demand. The
company built 272 planes in 2004, and plan to make 320 in 2005.
Taser
(
TASDR |
Quote |
Chart |
News |
PowerRating) has received an informal inquiry from the SEC on
safety statements and a recent sale. The stock fell 18%. Competition
is looming for Taser: rivals Stinger Systems
(
STIY |
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PowerRating) and Law
Enforcement Associates
(
LENF |
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PowerRating) are planning to introduce stun guns.
Looking forward to next week, on Tuesday, Intel reports; estimates are
0.31. On Wednesday, it’s Apple, with a 0.48 estimate, thanks to iPod, and
then on Thursday look for Sun Microsystems with a 0.01 estimate.
Strong sectors were: Semis
(
SOX.X |
Quote |
Chart |
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PowerRating) +1.34%, Internet
(
GIN.X |
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PowerRating)
+1.14%, Gold
(
XAU.X |
Quote |
Chart |
News |
PowerRating) +0.40%
Weak sectors were: Â Oil Services
(
OSX.X |
Quote |
Chart |
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PowerRating) -1.72%, Banks
(
BIX.X |
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News |
PowerRating)
-0.62%.
Â
| Dow | -18.92 | 10,603.96 |
| S&P 500 | -1.70 | 1186.19 |
| Nasdaq | -1.39 | 2,088.61 |
The dollar was +0.46 at
83.65
Crude Oil was -0.41 at
45.43
Gold was -4.40 to 418
2.18 billion on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing | 1396 | Up Vol 535 |
| Declining | 1913 | Down Vol 923 |
| 1.02 | 1.02 | |
| Nasdaq |
||
| Advancing | 1189 | Up Vol 1105 |
| Declining | 1888 | Down Vol 1055 |
| 1.21 | 1.85 |
Stocks in the News
UTStarcom (UTSI)
guided much lower.
Gamestop
(
GME |
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PowerRating) lowered its Q4 forecast.
Wellpoint
(
WLP |
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PowerRating) guided lower.
Doubleclick
(
DCLK |
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PowerRating) raised its Q4 outlook.
Formfactor
(
FORM |
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Chart |
News |
PowerRating) lowered its Q4 outlook.
Brice Wightman