Major Averages In Narrow Ranges
Following an initial move to the downside,
the major averages have basically spent the morning in trading ranges.
The disk drive sector has crept steadily lower throughout
the morning and is now down about 1.2%, effectively reversing all of Wednesday’s
gains. The computer hardware and semiconductor spaces have also continued to
drift lower, with each now down about 1%.
Besides the tobacco sector, which is receiving a boost from Altria
(
MO |
Quote |
Chart |
News |
PowerRating)
+4.19%, which hit a new 52-week high, there are very few significant gainers on
the session. The gold space ticked lower early in the day, adding to Wednesday’s
slide, but reversed course in the mid-morning and is now posting a modest
advance.
Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) -2.25% announced plans to sell $4
Bln of shares to fund acquisitions and extra spending. Google’s share price has
tripled since flotation last year.
Synopsys
(
SNPS |
Quote |
Chart |
News |
PowerRating) +11.13% reported third quarter EPS
of $0.10 after the close on Wednesday, which beat the consensus estimate of
$0.08. Revenues declined to $251.5 million, from the $281.7 million reported
last year. The company expects to report fourth quarter EPS of $0.07 to $0.11
and full year 2005 EPS of $0.36 to $0.40. The consensus estimates are for EPS of
$0.10 and $0.36 respectively.
Network Appliance
(
NTAP |
Quote |
Chart |
News |
PowerRating) +2.77% reported first
quarter EPS of $0.16, which beat the consensus estimate of $0.15. Revenues
increased to $448.4 million, from the $358.4 million reported last year. The
company expects to report third quarter EPS of $0.18 to $0.19 and full year 2006
EPS of $0.76 to $0.79. The consensus estimates are for EPS of $0.18 and $0.73
respectively.
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Biggest Risers And Fallers
S&P 500:
Altria
(
MO |
Quote |
Chart |
News |
PowerRating) +4.19%, Medtronic
(
MDT |
Quote |
Chart |
News |
PowerRating)
+2.96% and Network Appliance
(
NTAP |
Quote |
Chart |
News |
PowerRating) +2.77%.
Limited Brands
(
LTD |
Quote |
Chart |
News |
PowerRating) – 4.63%, Delta Airlines
(
DAL |
Quote |
Chart |
News |
PowerRating) -3.77% and King Pharmaceuticals
(
KG |
Quote |
Chart |
News |
PowerRating) -3.44%.
Nasdaq 100:
Synopsys
(
SNPS |
Quote |
Chart |
News |
PowerRating) +11.13%, Network Appliance
(
NTAP |
Quote |
Chart |
News |
PowerRating) +2.77%
and Human Genome Sciences
(
HGSI |
Quote |
Chart |
News |
PowerRating) +2.56%.
Bea Systems
(
BEAS |
Quote |
Chart |
News |
PowerRating) -5.47%, JDS Uniphase
(
JDSU |
Quote |
Chart |
News |
PowerRating) -3.79% and
Apple Computer
(
AAPL |
Quote |
Chart |
News |
PowerRating) – 2.39%.
Strongest Sectors
Pharmaceuticals
(
DRG |
Quote |
Chart |
News |
PowerRating) +0.32%, Health Care
(
HCX |
Quote |
Chart |
News |
PowerRating) +0.25% and
Airlines
(
XAL |
Quote |
Chart |
News |
PowerRating) +0.24%
Weakest Sectors
Disk Drives
(
DDX |
Quote |
Chart |
News |
PowerRating) -1.27%, Oil Index
(
XOI |
Quote |
Chart |
News |
PowerRating)
-0.88 and Semiconductors
(
SOX |
Quote |
Chart |
News |
PowerRating) – 0.69%.
Â
| Dow | +12.66 | 10,563.37 |
| Nasdaq | -6.78 | 2138.37 |
| S&P 500 | -0.76 | 1219.48 |
| NYSE | Nasdaq | |
| Volume | 880,830,000 | 716,494,000 |
| Up Volume | 255 (31%) | 435 (32%) |
| Down Volume | 533 (67%) | 472 (64%) |
| Advances | 1075 | 1037 |
| Declines | 2040 | 1770 |
Ashton Dorkins
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