NFLX : This Stock Is Like A Bad Movie Today
Stocks are mixed this
triple witching Friday, after weak consumer confidence data.
September PPI rose +0.1%; Core PPI gained +0.3%.
Retail sales for September rose +1.5%, double expectations; ex-auto, +0.6%.
Auto sales recorded the
fastest increase since October 2001.
The preliminary University of Michigan sentiment
figures came in at 87.5, down from 94.2, the lowest figure in 18 months.
Marsh & McLennan
(
MMC |
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PowerRating) is trading lower after Eliot Spitzer targeted
the company in a fraud suit.
Wachovia
(
WB |
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PowerRating) beat by 0.02; Q3 profits rose 14%.
Sprint
(
FON |
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PowerRating) said Q3 will top forecasts and that it will cut 700
jobs.
Alan Greenspan commented on oil prices
today, saying “So far this year, the rise in the value of imported oil –
essentially a tax on U.S. residents – has amounted to about three quarters of
one percent of GDP.”
NetFlix
(
NFLX |
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PowerRating) is reducing prices in
an effort to maintain market share amid new competition from Amazon and
Blockbuster. Seven brokers downgraded the stock today. NFLX is down 38% today.
| Dow | -76.17 | 9970.55 |
| S&P 500 | +8.82 | 1112.13 |
| Nasdaq | +17.87 | 1920.97 |
Strong sectors are: Gold
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +2.62%, Brokers
(
XBD.X |
Quote |
Chart |
News |
PowerRating) +1.72%, Banks
(
BKX.X |
Quote |
Chart |
News |
PowerRating) +1.55%, Natural Gas
(
XNG.X |
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Chart |
News |
PowerRating)
+1.22%. Â
Weak sectors are:Â Insurance
(
IUX.X |
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Chart |
News |
PowerRating)
-2.89%, Disk Drives
(
DDX.X |
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Chart |
News |
PowerRating), -1.51%.
10-year notes are: -155
at 113 015
The dollar
is -0.37 at 87.18
Gold is +0.40 at 418.40
Crude Oil is -0.41 at 53.65
1.16 billion on the Nasdaq.
Market breadth is negative.
| NYSE | Issues | |
| Advancing | 2344 | Up Vol 722 |
| Declining | 869 | Down Vol 377 |
| Ratio | 2.69 | 1.91 |
| Nasdaq |
||
| Advancing | 1860 | Up Vol 679 |
| Declining | 1097 | Down Vol 422 |
| Ratio | 2.69 | 1.60 |
Stocks in the News
Cree
(
CREE |
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Chart |
News |
PowerRating) beat handily.
Charles Schwab
(
SCH |
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Chart |
News |
PowerRating) met expectations; trading volume was down 29% in
September.
Schwab Soundview started coverage of Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) with a $180 price
target.
Juniper
(
NJPR |
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Chart |
News |
PowerRating) beat by 0.02; the company guided lower for the first
half of 2005.
Delta
(
DAL |
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Chart |
News |
PowerRating) sees a worse than expected Q3 loss.
Sun Microsystems
(
SUNW |
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Chart |
News |
PowerRating)
was raised to peer perform from underperform at Bear Stearns, after the company
reported a narrower loss.
La Jolla Pharmaceutical
(
LJPC |
Quote |
Chart |
News |
PowerRating) is lower after the FDA asked for
additional trials of its lupus drug.
Brice Wightman