Nice Trade On GOOG
Stocks are higher
on quadruple witch Friday
on an upbeat outlook from Ford
(
F |
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Chart |
News |
PowerRating)
and a Texas Instruments
(
TXN |
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PowerRating) stock buyback.
The semiconductor book to bill ratio came in at
1.00 in August from 1.04. The SOX up 9% in the last week and a half
touching 50 MAÂ down 31% from highs in January. RBC downgraded the sector
to neutral on valuation.
The University of Michigan sentiment index edged
lower at 95.8; the consensus was 96.5.
Nice perk. Search firm Heidrick & Struggles and
some top execs sold 1.2 million shares of Google
(
GOOG |
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PowerRating) recently.
The firm received rights to buy GOOG shares at 0.30 as part of a recruiting job
done for Google in 2001. The profit? $128.8 million.
The indices are basically flat for the week, but
sectors making new highs are oils, services, transports and utilities.
| Dow | +37.91 | 10226.73 |
| S&P 500 | +4.05 | 1124.42 |
| Nasdaq | +10.46 | 1906.98 |
Strong today are: Oil
(
XOI.X |
Quote |
Chart |
News |
PowerRating)
+1.47%, Biotech
(
BTK.X |
Quote |
Chart |
News |
PowerRating) +1.37%, Semis
(
SOX.X |
Quote |
Chart |
News |
PowerRating) +1.07%.
Weak are: Healthcare
(
HMO.X |
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Chart |
News |
PowerRating)
-0.89%, Brokers
(
XBD.X |
Quote |
Chart |
News |
PowerRating) -0.89%.
10-year Notes are -070 at 112 270
The dollar
is +0.16 at 88.95
Gold is +1.20 at 405.20
Crude Oil is +1.03 at 44.95
Volume is 726 million on
the NYSE and 913 million on the Nasdaq.
Market breadth is positive.
| NYSE | Issues | |
| Advancing | 1703 | Up Vol 422 |
| Declining | 1425 | Down Vol 252 |
| Ratio | 1.19 | 1.67 |
| Nasdaq |
||
| Advancing | 1391 | Up Vol 542 |
| Declining | 1414 | Down Vol 321 |
| Ratio | 1.01 | 1.68 |
Stocks in the News
Ford
(
F |
Quote |
Chart |
News |
PowerRating) raised its Q3 and 2004 estimates, and will cut 1500 jobs at
its Jaguar plant in Britain. The company now sees 1.90 – 2.10.
Texas Instruments
(
TXN |
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Chart |
News |
PowerRating) will buy back $1 billion in stock and
boosted its quarterly dividend to 0.10.
3COM
(
COMS |
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Chart |
News |
PowerRating) had a slightly narrower loss and guided higher for
the current quarter.
Circuit City
(
CC |
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Chart |
News |
PowerRating) reported 0.06, beating estimates.
Knight Ridder
(
KRI |
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Chart |
News |
PowerRating) guided lower, citing lower ad revenue at the Miami
Herald due to the hurricanes.
Cisco
(
CSCO |
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Chart |
News |
PowerRating) was downgraded at Lehman.
Anheuser Busch
(
BUD |
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Chart |
News |
PowerRating) was downgraded to hold at Deutsche Bank.
Qualcomm
(
QCOM |
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Chart |
News |
PowerRating) is raising guidance for Q4 and said it may change
the way it accounts for royalties, which may adversely affect revenues.
Carnival
(
CCL |
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Chart |
News |
PowerRating) beat by 0.03.
Brice Wightman