Looking Ahead In Anticipation
Report card time for companies weighed
heavily on the markets throughout Monday’s session. Anticipation is looming as almost 1500 companies are due out with their earnings.
The Dow Jones Industrials remained
depressed all through the trading session and closed lower by 0.6%. The Nasdaq
Composite shed 2.6% as markets waned in the height of earnings season.
Stocks which edged higher today:
SCI Systems
(
SCI |
Quote |
Chart |
News |
PowerRating) after Sanmina
(
SANM |
Quote |
Chart |
News |
PowerRating) announced it would be
acquiring the company for almost $4.45 billion. SCI closed higher by 5.0%.
Caremax RX
(
CMX |
Quote |
Chart |
News |
PowerRating) gained 4.9%.
Metro One Communications
(
MTON |
Quote |
Chart |
News |
PowerRating)
rose 10.3% after the company raised its earnings forecast to between
29 to 31 cents a share, ahead of analysts’ expectations of 25 cents, based on a
poll taken from Thomson Financial/First Call.
Professional services firm PEC
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating) moved higher 8.1% after the company announced it was
awarded two contracts to provide support for the Drug Enforcement
Administrations (DEA) intranet.
Cardinal Health
(
CAH |
Quote |
Chart |
News |
PowerRating) tacked on
4.3% for the session.
Sectors showing strength Monday
included the Insurance Index
(
$IUX.X |
Quote |
Chart |
News |
PowerRating), which gained fractionally 0.5% and
the Airline Sector
(
$XAL.X |
Quote |
Chart |
News |
PowerRating), which did
almost the same by moving higher 0.8%. Also
eking out a gain in the session
was the Retail Index
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) which rose 0.4%.
Myriad Genetics
(
MYGN |
Quote |
Chart |
News |
PowerRating) lost
14.8%,
as the Biotechnology Sector
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) continued to shed points. The
index closed lower by 6.6%.
Oil services company Hydril
(
HYDL |
Quote |
Chart |
News |
PowerRating)
moved lower in the session 24.0%.
Therma Wave
(
TWAV |
Quote |
Chart |
News |
PowerRating) sold off in
trading, after the company warned on its Q2 numbers. Therma Wave closed 32.0%
lower.
Apria Healthcare Group
(
AHG |
Quote |
Chart |
News |
PowerRating) was
halted in trading for a portion of the day after the company commented on a
number of allegations that Apria’s Medicare billings to the government had insufficient
documentation. AHG shed 15.5% in the session
Bank of New York
(
BK |
Quote |
Chart |
News |
PowerRating) shares moved
lower 12.9%
Sectors lagging in addition to the
Biotechnology Index, were the Oil Services Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) which sank 7.3%
and the Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) lost
6.0%
Thanks to Duke
Heberlein for
taking on this piece while I was on vacation.