Lots Of Earnings This Week–Look At This Report After The Close
Stocks were higher
Monday–making it three in a row–on lower oil and positive comments on a Dow
component. Prudential upgraded Proctor &
Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) to overweight from neutral. Market breadth was strong; also,
the new high list is expanding. The Dow has rallied 335 points since Thursday’s
low. The $SOX at 7-month highs. Oil was lower after Hurricane Dennis did not do
the damage some had predicted.
Dreamworks
(
DWA |
Quote |
Chart |
News |
PowerRating) warned of a Q2 loss and said it would withdraw
its proposed $500 million offering.
Sprint
(
FON |
Quote |
Chart |
News |
PowerRating) is buying US Unwired
(
UNWR |
Quote |
Chart |
News |
PowerRating) for $1.3 billion plus debt.
It’s earnings season! Later in the week,
look for General Electric
(
GE |
Quote |
Chart |
News |
PowerRating). After the close, Genentech reportedÂ
Q2 earnings of 0.30 vs a 0.26 forecast; revenues were in-line. Herceptin sales
rose 23%. Tarceva sales were $10 million higher than analysts expected. DNA is
up nearly $40 in the past 4 months.
Thirty-three of the S&P 500 companies report this week, among them, HDI, YUM,
AAPL, LUV and TRB.
Strong sectors were:Â Â Gold
(
$HUI.X |
Quote |
Chart |
News |
PowerRating) +2.56%Â Â Internet
(
$GIN.X |
Quote |
Chart |
News |
PowerRating) +2.36% Â Â Â
Disk Drives
(
DDX.X |
Quote |
Chart |
News |
PowerRating) +2.04%Â Â Â Â Â Â
Â
    Â
| Dow | +69.66 | 10,51 |
| Nasdaq | +22.55 | 2135.43 |
| S&P 500 | +7.58 | 1219.44 |
The dollar was -0.79 at
89.50
Crude Oil was -0.71 at
58.92
Gold was +1.40 at 425.60
1.76 billion on the Nasdaq.
Market breadth was positive.
| NYSE | Issues | |
| Advancing | 2342 | Up Vol 1273 |
| Declining | 956 | Down Vol 347 |
| 2.44 | 3.66 | |
| Nasdaq |
||
| Advancing | 2088 | Up Vol 1361 |
| Declining | 964 | Down Vol 292 |
| 2.16 | 4.66 |
Stocks in the News
Komag
(
KOMG |
Quote |
Chart |
News |
PowerRating) raised Q2 revenue guidance.
Mylan
(
MYL |
Quote |
Chart |
News |
PowerRating) said it sees Q1 above estimates.
Pilgrim’s Pride
(
PPC |
Quote |
Chart |
News |
PowerRating) raised its Q3 profit outlook.
Prudential cut its price target on Dell
(
DELL |
Quote |
Chart |
News |
PowerRating) to
$52 from $55.
CSFB upgraded Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) to outperform from market
perform.
Brooks Automation
(
BRKS |
Quote |
Chart |
News |
PowerRating) is acquiring
Helix
(
HELX |
Quote |
Chart |
News |
PowerRating) for $450 million.
Brice Wightman