One-Day Wonder?

Stocks are lower and consolidating after yesterday’s
large gains.
Higher oil is also holding the market down.

Google
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GOOG |
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reported 1.12, beating by 0.20. In the same period
last year the company earned 0.24. Google has beaten estimates since it went
public last year.

Amgen
(
AMGN |
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missed by a penny at 0.67. Revenue was $2.7 billion.
The company increased its full-year guidance. 2002

Eastman Kodak
(
EK |
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missed by a wide margin.

Maytag
(
MYG |
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Q1 profit fell 80%. The company cited higher fuel an
raw materials costs and also guided lower.

International Paper
(
IP |
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beat expectations by 0.02.

Strong sectors are:   Oil Services
(
$OSX.X |
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+1.41%  
Oil
(
$OIX.X |
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+1.23%    Natural Gas
(
$XNG.X |
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+0.96%

Weak sectors are: Airlines
(
$XAL.X |
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-3.91%   Computer
Hardware

(
$HWI.X$ |
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-2.28%   Retail
(
$RLX.X |
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-1.54%

Dow  -44.71 10,173.89
Nasdaq -22.03 1940.38
S&P 500 -4.75 1155.20

The dollar is -0.21 at
83.49

Crude Oil is +1.00 at
55.20

Gold is +2.50 at 434.50

ce=”Arial” size=”2″ face=”Arial”>Volume is 806 million on the NYSE and
773 million on the Nasdaq.

Market breadth is negative.

NYSE Issues
Advancing 1209 Up Vol 280
Declining 1862 Down Vol 435
1.54 1.55
Nasdaq
Advancing 838 Up Vol 190
Declining 1999 Down Vol 526
2.38 2.76

Stocks in the News

Callaway Golf’s
(
ELY |
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profit was cut in half; the company missed
by 0.03.

Costco
(
COST |
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lowered guidance citing weaker gasoline sales.

Brice Wightman